Reps advises FG not to sell NLNG

The proposed sale of Nigerian Liquefied Natural Gas (NLNG) will hurt the nation’s economy, according to the House of Representatives.

Following  a motion by Randolph Brown (PDP, Rivers), who expressed fears that there had been proposals to the Federal Government to sell the multi-billion dollar NLNG to raise funds to reflate the economy, the lawmakers therefore advised the Federal Government to suspend the exercise.

“This proposal was a as a result of the recommendation sometime in 2016 after a ministerial retreat for an ambitious fiscal stimulus plan involving the generation and injection of massive foreign capital.

“The massive foreign capital estimated at between $10 and $15 billion (about N 4.72 trillion) into the economy to help the recession recovery process,” Brown said.

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