To finance its 2021 national budget, the Nigerian government is planning to sell a number of properties.
36 properties have been classified by the government into five departments.
The Department of Industries and Communication has 8 projects, the Department of Development Institutions and Natural Resources has six projects, the Department of Energy has nine projects and the Department of Development Institutions and Natural Resources has six projects.
Projects are expected to be awarded or sold between January 2021 and November 2022.
A number of properties, including the Abuja Environmental Protection Board (AEPB), the Abuja International Conference Centre (ICC), some unnamed refineries, the Transmission Company of Nigeria (TCN), the Abuja Water Board, the Nigerian Film Corporation, among others, have already been listed for sale or concession.
In terms of core investor sales, these transfers will vary, while some will be in the form of share sales. Some will be subject to concessions, while others will be fully or partially marketed.
Nigeria’s Bureau of Public Enterprise said the investor can be individuals, firms, Nigerians, or foreign nationals.
The 2021 budget of Nigeria has an approved statutory transfer of $1.3 billion as approved for debt services, and $8.65 billion.
Through its finance minister, Zainab Ahmed, the West African country said Nigeria intends to borrow 14.69 billion dollars from both domestic and foreign resources.
She said the World Bank, the Islamic Development Bank, and countries such as Brazil are going to lend Nigeria the money.
