Home NEWS Reps orders stop to multi billion dollars NLNG sales deal

Reps orders stop to multi billion dollars NLNG sales deal

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The House of Representatives has urged the Federal Government to suspend the proposed sale of the Nigerian Liquefied Natural Gas Limited (NLNG) company.

The resolution is sequel to a motion raised by Randolph Brown (PDP, Rivers) entitled: ‘Urgent Need to Stop the Sale of the Nigerian Liquefied Natural Gas Limited (NLNG).’

In his motion, Brown disclosed that the purpose of the proposed sale of the state-owned gas company is to reflate and resuscitate the economy.

However, he urged the government to access other cheaper and longer-term financing options, in line with the wishes of the Nigerian Labour Congress (NLC), the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) and other organizations that frown upon the sale.

He noted that the NLNG is one of the most successful ventures that Nigeria has embarked upon recently.

Brown revealed that if the sale were allowed to go through, only a few wealthy Nigerians would benefit from the transaction at the expense of the larger crowd of Nigerian workers.

“It is not in any conventional economic reality for any nation to resort to selling off its assets during challenging times, as this exhibits leadership laxity and policy myopia,” he said.

The House, therefore, mandated its Committee on Gas Resources to ensure compliance.

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