First release a N9.1 trillion budget and then sell companies to fund the budget   

25 September 2018 : Nigeria is planning to Nigeria will proffer 10 state-owned companies for sale to selected investors and the public in the fourth quarter to raise N 289 billion ($797 million) in order to fund the 2018 budget. These companies are quite diversified from an industry stand point and range from aviation to insurance.


Amongst these, two of them, Nicon Insurance Ltd. and Skyway Aviation Handling Co. through an IPO either this month or early next month.


After signing a record N 9.1 trillion budget into law, with a teenier fiscal deficit with relative to last year, which the government expects to fund from sources other than revenue from oil, which is its main export. Consequently, the privatization agency had promised to raise N 306 billion to assist in financing the planned spending. The agency garnered N 17.3 billion after selling their 21% share in the state owned mint to the Central bank and is also considering to revoke previous deals where buyers haven’t kept to their agreements.


Reporting for EasyKobo on Tuesday , 25 September 2018 in Lagos, Nigeria

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