TBS to be sold by FG, National Arts Theatre to Finance Budget

The Federal Government has informed the House
of Representatives of plans to sell the Tafawa
Balewa Square (TBS), National Arts Theatre, and
some power plants, The Nation reports.

The national assets are reportedly part of several
others the Federal Government plans to privatize
to generate revenue to finance the country’s
budgets for the years 2018, 2019 and 2020.

Ben Akabueze , Director General of Budget Office,
informing the House of Representatives Joint
Committees on 2018-2020 Medium Term
Expenditure Framework (MTEF)/Fiscal Strategy
Paper (FSP), added that non-core assets from the
mines and steel sector like houses and estates,
as well as national parks, will be included in the
sale.

He said:
We are generating too little revenue,
hence we are borrowing. If we
generate enough, borrowing ratio
will drop.