Why FG must not sell national assets – Falana

Lagos lawyer, Femi Falana (SAN), has urged government and Nigerians to oppose the sale of the country’s assets, particularly in the oil and gas sector of the economy.

Business mogul, Aliko Dangote, had suggested that the Nigeria Liquefied Natural Gas Limited (NLNG) be sold as a way out of the present economic recession.

The Minister of Finance, Kemi Adeosun, was also quoted as saying the money realised from the sale of the company would be used to fund the 2016 Budget.

But in a statement issued in Lagos on Tuesday, Falana said the NLNG is a lucrative subsidiary of the Nigerian National Petroleum Corporation (NNPC) which has earned the government good revenue over the years.

He said,” If all assets are sold, how would the government fund the budgets of 2017-2019?”

The lawyer quoted the 2016 facts and figures of the NLNG to justify why the gas company should not be sold.

“Total revenue from 1999 to 2015 was $90.3billion, while the figure for the last five years was $48.54billion

“Capital Investment from 1999 to 2015 was $15.6billion, while the figure for the last five years was $1.3billion,” he stated.