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The House of Representatives on Wednesday urged President Muhammadu Buhari to halt the proposed sale of Nigeria Liquified Natural Gas (NLNG).
The resolution was passed sequel to the adoption of a motion sponsored by Brown Randolph (PDP-Rivers) who expressed concern that the planned sale of the asset for an ambitious fiscal stimulus plan involving the generation and injection of massive foreign capital is not a step in the right direction.
Randolph noted that the sale of NLNG will affect Nigerian workers and the country at large.
“The House notes of a proposal by the Federal Government to sell the multi-billion dollar Nigerian Liquefied Natural Gas Limited (NLNG) to raise funds to reflate the Nigerian economy.
“The House further notes that the proposal was as a result of the recommendation of a Ministerial Retreat in 2016 for an ambitious fiscal stimulus plan involving the generation and injection of massive foreign capital, estimated at between $10 and $15 billion (about N 4.72 trillion) into the economy to help the recession recovery process.
“The House is aware that the Minister of Budget and National Planning, Udoma Udo Udoma, stated that one of the ways to fund the plan would be through the sale of some national assets and the proceeds reinvested in the economy to raise the needed capital for infrastructural development.
“The House is also aware that the NLNG is one of the most successful ventures that Nigeria has embarked upon when it’s started from train one through to the sixth train and now the seventh train in the offing,” the River state lawmaker noted.
The lawmaker who argued that no nation resorts to selling of assets during challenging times, observed tnat Revenue Mobilization Allocation and Fiscal Commission (RMAFC) as well as Nigeria Labour Congress (NLC) had frowned at he move and warned the federal government against the sale of national assets especially the NLNG.
While urging Federal Government to explore other options of getting coming out of recession, the House mandated its Committee in Gas Resources to ensure compliance.
KEHINDE AKINTOLA, Abuja
