The Federal government of Nigeria is currently considering selling or to concession some key assets within the country to fund budget deficit.
The proposed 2023 budget deficit stands at N10.7trn, therefore the Ministry of Finance, Budget and National Planning has started compiling a list of key assets to be sold or concessioned.
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Chief of the list is the Tafawa Balewa Square in Lagos that sits on a 14.5-hectares of land in Lagos Island. The government also has plans to sell or concession all the hydro power plants across the country, including Oyan, Lower Usuma, Katsina-Ala and Giri plants.
The National Integrated Power Projects in Olorunsogo, Calabar II, Benin (located at Ihorbor), Omotosho II and Geregu II plants is also on the list.
More than 25 of such projects will be turned into active assets that will be generating money in some ways to the Federal Government.
Some of them will be offered to investors for equity while others will be totally sold to reduce waste.
The government is also eyeing revenue from Calabar and Kano free zones as well as Abuja Water Board, Aluminium Smelter Company of Nigeria, National Film Corporation, National Theatre and Lagos International Trade Fair.
The government is also planning to relinquish the ownership of some of the basin authorities and hand them over to the private sector to manage.