Buhari Set To Sell Prized National Assets To UAE Businessman. (See Mind-boggling Details)
EXCLUSIVE: Buhari planning to sell NLNG, stake in JVCs to Arab businessmen from UAE At his wits end over how to raise money and
keep the Nigerian economy from collapsing completely, President Muhammadu Buhari is about concluding plans to sell off prized national assets to investors form the Middle East.
Nigerian Times learnt from a highly placed source in the Presidency that the government has been in talks with businessmen form Dubai and Qatar over the sale of its entire 49 percent stake in the Nigeria Liquified Natural Gas Limited.
The deal, this paper learnt, is being brokered by an influential governor from the northern part of the country. Discussions have been on for some time now but our source said the deal would have been wrapped up by now but for the insistence by the businessmen that the Nigerian government provide cast-iron guarantee that their investment would be safe given the restiveness in the Niger Delta region where the assets are based.
“The bombing of oil facilities by the Avengers is a sticking point. The investors do not want to spend billions acquiring the company only to have it go up in flames. They are asking the president to provide assurance that facilities belonging to the company will continue to be protected by government after they have sealed the deal,” our source said.
President Buhari is said to have given them his word that their investments would be well secured by security agencies, informing them that his government is also exploring a peaceful resolution of the Niger Delta problem.
Aside the NLNG, this paper learnt, President Buhari is also considering divesting 10 per of its stake in the Joint Venture Companies as a way of raising money.
The NLNG was incorporated as a limited liability company on May 17, 1989 to harness Nigeria’s vast natural gas resources and
keep the Nigerian economy from collapsing completely, President Muhammadu Buhari is about concluding plans to sell off prized national assets to investors form the Middle East.
Nigerian Times learnt from a highly placed source in the Presidency that the government has been in talks with businessmen form Dubai and Qatar over the sale of its entire 49 percent stake in the Nigeria Liquified Natural Gas Limited.
The deal, this paper learnt, is being brokered by an influential governor from the northern part of the country. Discussions have been on for some time now but our source said the deal would have been wrapped up by now but for the insistence by the businessmen that the Nigerian government provide cast-iron guarantee that their investment would be safe given the restiveness in the Niger Delta region where the assets are based.
“The bombing of oil facilities by the Avengers is a sticking point. The investors do not want to spend billions acquiring the company only to have it go up in flames. They are asking the president to provide assurance that facilities belonging to the company will continue to be protected by government after they have sealed the deal,” our source said.
President Buhari is said to have given them his word that their investments would be well secured by security agencies, informing them that his government is also exploring a peaceful resolution of the Niger Delta problem.
Aside the NLNG, this paper learnt, President Buhari is also considering divesting 10 per of its stake in the Joint Venture Companies as a way of raising money.
The NLNG was incorporated as a limited liability company on May 17, 1989 to harness Nigeria’s vast natural gas resources and
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