The Federal Government has informed the House of Representatives of plans to sell the Tafawa Balewa Square (TBS), National Arts Theatre, and some power plants, The Nation reports.
The national assets are reportedly part of several others the Federal Government plans to privatize to generate revenue to finance the country’s budgets for the years 2018, 2019 and 2020.
Ben Akabueze, Director General of Budget Office, informing the House of Representatives Joint Committees on 2018-2020 Medium Term Expenditure Framework (MTEF)/Fiscal Strategy Paper (FSP), added that non-core assets from the mines and steel sector like houses and estates, as well as national parks, will be included in the sale. He said:
We are generating too little revenue, hence we are borrowing. If we generate enough, borrowing ratio will drop.