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FG May Sell Public Assets To Fund 2020 Budget

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Indications have emerged that more public assets may be put up for sale by the Federal Government as the Bureau of Public Enterprises reviews the 2020 Privatisation Work Plan.

Checks by our correspondent revealed that work on the review of the privatisation work plan is ongoing.The revised 2020 budget has a deficit of N5.37tn.

Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, had said the Federal Government intended to finance the deficit through domestic and foreign borrowing, as well as proceeds from privatisation of public assets.

Our correspondent learnt that the BPE is reviewing the 2020 Privatisation Work Plan.The review of the work plan was informed by the drop in the projected revenue that will accrue to the Federal Government within the year.
Director General of the BPE, Mr. Alex Okoh, confirmed the ongoing review of the privatisation work plan to our correspondent on Thursday.

Responding to enquiries by our correspondent, Okoh said, “We are currently reviewing the Privatisation Work Plan for 2020 to determine the transactions that are feasible within the fiscal year in view of the disruption caused by the COVID-19 health pandemic.

“We should be ready by the end of next week.”
Although Okoh did not disclose whether the review will require putting more public assets up for sale, the need to source funds for the N5.37tn deficit in the 2020 budget may compel the Federal Government to seek more revenue from additional privatisation transactions.

Before the economic impact of the COVID-19 pandemic instigated the ongoing review of the 2020 Privatisation Work Plan, the BPE had targeted the generation of N266.8bn as revenue from the sale and commercialisation of public assets during the year.

The sum of N3.9bn would be expended on the trans-actions, leaving a net revenue of N266.8bn.The bulk of the projected 2020 transactions are in the energy sector, where the BPE targeted N268.3bn.

The transactions from which the BPE planned to generate the N266.8bn include carry overs from the 2019 approved work plan, such as completion of sales of Yola Electricity Distribution Company and Afam Power Limited and Afam Three Fast Power.The transactions also included the Nigeria Integrated Power Projects.

Other transactions in the initial 2020 work plan include sale of additional shares of Geregu to Amperion Power, Tafawa Balewa Square, Bank of Agriculture, Dowell Schlumberger Nigeria Limited, NMC houses, Nigeria Commodity Exchange and River Basin Development Authorities and Lagos International Trade Fair complex.

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Video: Mojisola Oduola -Kabiyesi

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At last the long awaited video is out . KABIYESI The unquestionable God.

watch and make sure you subscribe to my YouTube channel. May God bless you as you do so.

This will surely serve as my birthday gift from my love ones.
Click on the link below

CLICK TO DOWNLOAD

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Funny tweets, memes and videos from Twitter NG for “Happy 420”

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Today’s date, April 20, stylised as 4/20 is a day worldwide commemorated by stoners or smokers of weed to celebrate marijuana. In short, it is treated as a public holiday for weed/marijuana and termed—Happy 420.

Twitter NG i.e users of Twitter in Nigeria, as it is the yearly custom are trending “Happy 420” as the number one topic in the country. While many really used the medium to share their unwavering love for weed, others have taken it upon themselves to make funny tweets, memes, skits and share several videos in relation to weed smoking and “Happy 420” as an entity.

While some tweeps take jab at those who don’t smoke weed but indulge in the “woke” culture by wishing stoners a “Happy 420”, others in their own way intentionally misinterpret certain scriptural verses for comedic purpose in order to aid and bait their smoking habits, still others take it upon themselves to disperse various memes which for sure will bring a smile upon your face. That’s not all, though, for we have some tweeps who did brainstorm to form some of the best puns concerning weed and stoners jokes ever. Well we can say irrespective of the way they passed their message regarding “Happy 420”, they all ended on a high note. Enjoy!

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FG to extend fuel subsidy for 6 months

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The Nigerian Government may have suspended plans to end its subsidy payments as reports indicate that the FG plans to spend N720 billion for the next 6 months on Premium Motor Spirit (PMS) subsidies.

This was disclosed in an exclusive report by The Guardian on Sunday, citing that President Muhammadu Buhari ordered that the subsidies remain in place for the next 6 months.

“Specifically, President Buhari has asked the Nigeria National Petroleum Corporation (NNPC) to suspend any idea on subsidy removal for five to six months so that a plan that does not harm ordinary Nigerians is evolved if the deregulation must go on,” a Government official said.

What you should know

NNPC GMD, Mele Kyari disclosed last month that the “NNPC may no longer be in a position to carry that burden because we cannot continue to carry it in our books,” after reports of fuel imports under-recovery revealed the FG was spending N120 billion a month on subsidy.
Kyari also hinted that they may soon start selling PMS at market prices saying: “NNPC importing PMS at market price and selling at N162/L. The actual market price should be between N211 and N234/L. Meaning is that consumers are not paying the market price.
“NNPC is currently the sole importer of PMS, and we’re trying to exit the underpriced sale of PMS. Eventual exit is inevitable, when it will happen I cannot say, but engagements are ongoing because the government is cognisant of the implications.”

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