• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      CBN says cryptocurrency ban in interest of Nigerians

      11 hrs

      Companies-in-Action

      Zenith Bank in strong operational performance as profit rises 10.4% to N230.56bn in FY20

      11 hrs

      Companies

      United Capital posts strong numbers as earnings rise 50% to N12.87bn in 2020

      February 23, 2021

      Finance

      CIBN revives mentorship initiative for bank workers

      February 20, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Insurance Business

      Enterprise risk management surges amid pandemic, RIMS reports

      9 hrs

      WORLD BUSINESS & ECONOMY

      Hyundai to recall 82,000 electric cars over battery malfunction

      10 hrs

      Frontpage

      Global health insurance premiums fall amid pandemic, says new report

      February 24, 2021

      Frontpage

      Insurance M&A record highest growth in Africa, Middle East in 2020

      February 23, 2021

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Oil and Gas

      OPL 310: LEKOIL engages Optimum Petroleum over CRSA agreement

      3 hrs

      Frontpage

      Nigeria still losing 200,000bpd crude daily as NNPC enlists army’s intervention

      10 hrs

      Frontpage

      Nigeria to sell 170MW electricity capacity to Togo from Calabar plant

      February 24, 2021

      Oil and Gas

      NCDMB extends ‘transitional’ equity to Waltersmith’s expanded refinery

      February 19, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      Coronation MB analysts project sharp rates rise after Nigeria recession exit

      9 hrs

      Analyst Insight

      How NITDA can further foster data protection compliance in Nigeria

      February 22, 2021

      Analyst Insight

      Do we need more start-ups in insurance?

      February 16, 2021

      Analyst Insight

      Naira, PMI’s and Inflation in focus

      February 16, 2021

Frontpage National: Governance, Policy & Politics

Nigeria to generate N493.4bn from asset sales across the country

February 19, 2021166 views0 comments

By Zainab Iwayemi

 

Following federal government’s plan to monetize the country’s asset, the Bureau of Public Enterprises (BPE) has estimated total revenue of N493.4 billion from the sale or concession of some of its assets in order to raise funds to finance the 2021 budget.

Nigeria to generate N493.4bn from asset sales across the countryThe assets and the projected amount expected to be generated from the sale or concession, which was contained in a document put together by the Bureau of Public Enterprises, show the classification of the properties under categories ranging from energy assets to industries and communication department, and development institutions and natural resources.

Read Also:

  • Nigeria commits to boost egg, meat production  
  • Nigeria records 6% drop in vessel traffic
  • How NITDA can further foster data protection compliance in Nigeria
  • Nigeria posts world’s best GDP growth ahead US, China, Japan
  • Nigeria’s CcHub declares success in 3 premier investments made through…

The BPE document submitted to the National Assembly shows that the government would earn the highest sum from the energy department at N484.48 billion, while earnings from industries and communication department, development institutions and natural resources were projected at N9.239 billion and N51.1 million respectively. Also, a total cost of N626.2 million was estimated for the departments covering infrastructure and public-private partnerships.

In addition, the BPE estimated an earning of N212.458 million for the post-transaction management department. However, while the country’s four refineries were grouped under energy department and classified as core investor sale, the amount to be earned from the facilities was not stated in the document.

The Transmission Company of Nigeria (TCN) was grouped under the energy department and would be under concession; although no amount was stated as the expected earnings from the TCN, the Lagos International Trade Fair Complex, Tafawa Balewa Square, River Basin Development Authorities, were grouped as assets for partial commercialization and concession. Also, the Abuja Environmental Protection Board, Abuja, the ICC, Nigerian Film Corporation, among others would be commercialized or given to concessionaires.

Zainab Ahmed, minister of finance, budget and national planning, had in January 2020, told lawmakers that the federal government, in a bid to fund this year’s budget would sell selected properties. She added that the Federal Government would also engage in domestic and foreign borrowings to fund the budget.

Part of the assets up for sale or concession includes, the country’s refineries, the International Conference Centre in Abuja, Yola Electricity Distribution Company, Zungeru Hydro Power, Tafawa Belewa Square, among other infrastructure and public private partnership and post transaction management department.

 

 

Share on Facebook Tweet Email
PreviousBears sustain dominance as sell-offs in MTN, Zenith, GTBank drive ASI into red
NextNCDMB extends ‘transitional’ equity to Waltersmith’s expanded refinery

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Nigeria records 6% drop in vessel traffic
  • Share illiquidity forcing Ellah Lakes’ majority owners to sell down 25%
  • Nigerian stock-fish dealers want access to foreign exchange
  • OPL 310: LEKOIL engages Optimum Petroleum over CRSA agreement
  • Coronation MB analysts project sharp rates rise after Nigeria recession exit

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

Global Islamic finance assets to reach $3.69trn in 2024 after 14% growth in 2019

Frontpage December 9, 2020

1
2

Access Bank makes strategic investments in southern African markets, expands African footprints  

Banking September 30, 2020

3

Nigeria’s new tax policy on ‘vatting’ microfinance banks’ services seen promoting financial exclusion

Frontpage August 22, 2017

4

NNPC awards crude-for-fuel swap contracts

Frontpage July 16, 2019

5

N50bn CBN loans to SMEs, others end 2024

Frontpage April 24, 2020

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.