He said it includes sales of National Assets. According to him, the government has lost about half of its expected revenue for the year. As a result, the government must generate revenue to fund the budget. Really? Are things now so bad?
We know the country's economy is in bad shape. We are even in a recession. But the question is - After selling these assets, how will the 2017 budget be funded? We should bear in mind that the even if the proceeds from the assets sales are used for investment, the government may not make revenue from those investments immediately. What other option will be left for government next year and beyond. Or will we be run without a budget? By that time, there may not be assets to sell. Maybe perhaps the government will not sell all this year. Then it will save some assets to be sold next year. Then the cycle continues. How much will even be made from selling our assets? One wonders whether it will be enough to fund the budget as the government requires.
However, if asset sales will reflate the economy as Udo Udoma said, and we will not need to sell more assets to fund next year's budget and there is no other option to fund the 2016 budget, let them go ahead.
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