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Expert warns Nigerian govt against under-valuing national assets

Boniface Okezie, a financial expert, has warned against under-valuing some national assets, including the National Theatre and Tafawa Balewa Square before selling them.

The Federal Government has proposed selling off some key national assets to finance the 2018 budget.

Okezie, who is also the President of the Progressive Shareholders Association of Nigeria, gave the warning in an interview with the News Agency of Nigeria (NAN) in Lagos on Monday.

“Having openness in the process will lead to the right investors to acquire the assets with the technical and financial power to manage the monument.

“The importance of sincerity in selling the assets cannot be over-emphasised because the citizenry are feeling that they are being short-changed by the authorities.’’

Okezie lamented that government’s assets worth billions of dollars were under-valued and sold to political cronies without due process.

“Refraining from the mistakes of the past where most government’s assets were sold to political friends without following due process will not be part of us anymore, if government could get this one right.’’

The financial expert argued that entrenching transparency in the sale of the assets was necessary to engender resuscitation of the economy.

“The capital expenditure which covers the infrastructure aspect of the budget will be met and the expected growth in the economy will be achieved.

“If the proposed policies are executed to the logical conclusion the budget will meet the yearning of the masses and the economic will experience a boom,’’ he said.

Among the assets to be sold are the National Integrated Power Plant plants, National Parks and the Niger Delta Power Holding Company.

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