Journalism of Courage

Finance ministry gets president’s nod to sell recovered assets in 6 months

The Nigerian finance ministry led by Zainab Ahmed has got President Muhammadu Buhari’s approval to sell all recovered and liability-free assets within six months.

The minister of budget and national planning, Udoma Udo Udoma, told the house of representatives joint committee on finance, a propriation, planning and economic development, that the sales of assets will help the Nigerian goverment increase its revenue this year.

“The Ministry of Finance, working with all the relevant authorities, has been authorized to take action to liquidate all recovered, unencumbered assets within six months,” he said.

“The Department of Petroleum Resources has been directed to, within three months, complete the collection of past-due oil license and royalty charges, including those due from Nigerian Petroleum Development Company (NPDC) (a subsidiary of NNPC), which it had agreed to pay since 2017,” the minister told the lawmakers, on Tuesday.

According to the minister, the president has also directed that the National Trade Window be deployed by the Nigeria Customs Services to help its border revenue jump to 90 percent from 64 percent without giving a timeline.

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