ABUJA: Nigeria’s possible sale of some of its oil and gas assets to raise money and boost the contracting economy in Africa’s most populous country could reduce the government’s influence over its biggest industry.
President Muhammadu Buhari’s economic advisers are working on a plan “to generate immediate large injection of funds into the economy through asset sales, advance payment for licence rounds, infrastructure concessioning,” to help deal with the slump in oil revenue, Budget Minister Udoma Udo Udoma said in a Sept 24 statement. The ministry of Petroleum Resources is examining what oil assets could be sold, Udoma’s spokesman, James Akpandem, said last week.
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