Nigeria to Sell Ajaokuta, Others for 2018 Budget

The Federal Government is ready to offer more of its assets for sale soon, under the ongoing privatisation programme aimed at raising more money to implement the country’s 2018 deficit-based budget.Just recently, the Nigerian Security Printing and Minting Company Limited Plc was offloaded, with the Central Bank of Nigeria (CBN), which already has a majority stake, emerging the preferred buyer, given the company’s security status.

CBN Governor, Godwin Emefiele, who made the disclosure while briefing the Nigerian delegation at the end of the International Monetary Fund/World Bank Group meetings in Bali, Indonesia, yesterday affirmed that more assets are in the offing.

“I am aware, as a member of the National Council on Privatisation, that more are coming and I believe in due course that the Bureau of Public Enterprise (BPE) will make this available for us. I am aware of the situation of Ajaokuta Steel Company of Nigeria. It is also on the cart, first for a total review of the process of privatisation and payment, so that our aluminum sector can eventually come alive,” he said.