Wednesday, April 14African Business News
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Tag: Agusto & Co

Report Backs FG’s Moves to Sell Moribund Assets

Report Backs FG’s Moves to Sell Moribund Assets

Economy
A new report by the pan-African credit rating agency, Agusto & Co, has backed the decision of the federal government to sell assets to fund critical infrastructure. Apart from its plan to engage in borrowings to fund the 2021 budget, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had said during a presentation on the 2021 budget that the federal government would also sell some non-oil assets to serve as an additional source of finance for the year’s budget. In its report, titled: “2021: The Year of the Vaccine,” which THISDAY obtained yesterday, Agusto & Co advised the federal government to undertake “bolder actions on asset reforms by reducing its exposures to moribund state-owned enterprises such as the refineries.” It noted that funds earn...