Governors in Nigeria have agreed to plans by the
economic management team to sell off the
nation’s asset in other to resolve the current
economic crisis.
The governors stated this while briefing reporters
at the end of the National Economic Council
(NEC) meeting presided over by Vice-President
Yemi Osinbajo.
The NEC is an advisory body on the economy,
comprising of all 36 states governors and the
Central Bank governor.
Atiku Bagudu, governor of Kebbi state, said the
management team briefed NEC that it was
working on plans to “generate immediate larger
injection of fund into the economy through: asset
sales, advance payment of license renewals,
infrastructure concessioning, use of recovered
funds to reduce funding gaps”.“Council members in response commended the
economic management team and generally
welcomed the presentation and expressed
support for the plan to steer the nation out of
recession,” he said.
Abiola Ajumobi, governor of Oyo, said the council
was briefed on the land use act of 2013, which
seeks to make provisions to streamline mortgage
transactions and clearly delineate the rights,
duties and obligations of a mortgage.
“Other aspects of the draft are: conditions for
disposal of proceeds of sale and subsequent
mortgages and implied terms of a mortgage;
rights of redemption and remedies and issues on
mortgage by companies; power of assignment by
mortgage and right of transfer and application of
insurance money by the receiver”.
Meanwhile, the council expressed support for the
plans and proposals of Kemi Adeosun, minister of
finance, and Udo Udoma, minister of budget and
national planning.
Governors in Nigeria have agreed to plans by the
economic management team to sell off the
nation’s asset in other to resolve the current
economic crisis.
The governors stated this while briefing reporters
at the end of the National Economic Council
(NEC) meeting presided over by Vice-President
Yemi Osinbajo.
The NEC is an advisory body on the economy,
comprising of all 36 states governors and the
Central Bank governor.
Atiku Bagudu, governor of Kebbi state, said the
management team briefed NEC that it was
working on plans to “generate immediate larger
injection of fund into the economy through: asset
sales, advance payment of license renewals,
infrastructure concessioning, use of recovered
funds to reduce funding gaps”.“Council members in response commended the
economic management team and generally
welcomed the presentation and expressed
support for the plan to steer the nation out of
recession,” he said.
Abiola Ajumobi, governor of Oyo, said the council
was briefed on the land use act of 2013, which
seeks to make provisions to streamline mortgage
transactions and clearly delineate the rights,
duties and obligations of a mortgage.
“Other aspects of the draft are: conditions for
disposal of proceeds of sale and subsequent
mortgages and implied terms of a mortgage;
rights of redemption and remedies and issues on
mortgage by companies; power of assignment by
mortgage and right of transfer and application of
insurance money by the receiver”.
Meanwhile, the council expressed support for the
plans and proposals of Kemi Adeosun, minister of
finance, and Udo Udoma, minister of budget and
national planning.
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