{"id":11523,"date":"2016-09-17T20:09:05","date_gmt":"2016-09-17T20:09:05","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=11523"},"modified":"2016-09-17T20:09:05","modified_gmt":"2016-09-17T20:09:05","slug":"dangote-advises-fg-to-sell-off-nlng-others-to-get-nigeria-out-of-recession","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=11523","title":{"rendered":"Dangote advises FG to sell off NLNG, others to get Nigeria out of recession"},"content":{"rendered":"<p><code><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/code><\/p>\n<p>Nigeria and African richest business mogul, Aliko Dangote has urged the federal government to sell off the Nigerian Liquified Natural Gas company, NLNG as well as other dormant but huge capital-generating sectors and invest the proceeds back into the economy to bring Nigeria out of its current recession before the end of fourt quarter.<\/p>\n<p>In an interview with CNBC Africa, the billionaire said: \u201cThe only way for us to get out of this recession is to make sure we move into action quickly; action by diversifying the economy quickly.<\/p>\n<p><code><iframe loading=\"lazy\" src=\"https:\/\/www.alternativeadvert.com\/show.php?z=30&amp;pl=10604&amp;ad_type=59&amp;rl=180\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/code><\/p>\n<p>\u201cIf I had challenges in my company, I would not hesitate to sell assets, to remain afloat, to get to the better times, because it doesn\u2019t make any sense for me to keep any assets and then suffocate the whole organisation.<\/p>\n<p>\u201cWhat we need to do now in my own thinking\u2026 we have a lot of assets to sell. We can sell part of the joint venture; part of the shares. You know government normally owns 60 percent.<\/p>\n<p>\u201cWe can sell in an open tender be it Chinese. We can change the term and make it an operating one, just like what we have in NLNG. We also have another asset I think we don\u2019t really need. \u201cThe African finance corporation; it can fetch them $800million easily. My own suggestion before was that they should even sell 100 percent of NLNG. I don\u2019t think government should be in any business of investing in sectors of LNG.<\/p>\n<p>\u201cA company like that, with earnings of $1.5 billion on the average, they should get anywhere between $12 billion and $15 billion.\u201d Dangote suggested investing the proceeds back into the economy to boost development.<\/p>\n<p>\u201cYou will not believe that the crisis that we have today, if we have $15 billion, adding it to our $25 billion, that is $40 billion reserves. That will give confidence, confidence will come back, then government will back it up with proper economic policy, where people can see the roadmap.<\/p>\n<p>\u201cLatest by fourth quarter we will be out of recession. It should be a partnership between government and private sector. We have all the answers, Nigeria falling into recession does not really scare me, if we take action. The businessman said if the government boosts reserves as suggested, the naira may fall to 250 to the dollar and help the economy.<\/p>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<p>\u201cOnce we can sell assets, and put $15 billion together, you\u2019d be very shocked at how much the dollar will actually drop, you can easily see 250. What is happening today is mere speculation.<\/p>\n<p>\u201cTo currency, everybody will speculate, banks will speculate, companies will speculate, individuals will speculate, because if you have money you want to send in from abroad you will keep sending in trickles.<\/p>\n<p>\u201cIf you know that CBN has $40 billion in reserves today, if you have $100,000, you might even sell it forward because you know that this rate is going to crash and you must quickly sell it.\u201d Source: vanguardngr.com<a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/09\/NLNG-620x330.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-11524\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/09\/NLNG-620x330-300x225.png\" alt=\"nlng-620x330\" width=\"300\" height=\"225\" srcset=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/09\/NLNG-620x330-300x225.png 300w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/09\/NLNG-620x330.png 400w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><a href=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/08\/Alayo-2-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-11240\" src=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/08\/Alayo-2-1-300x250.jpg\" alt=\"Alayo 2\" width=\"300\" height=\"250\" srcset=\"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/08\/Alayo-2-1-300x250.jpg 300w, http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/08\/Alayo-2-1.jpg 559w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p><code><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<!-- www.deltanewsroom.com --><br \/>\n<ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-2163942495525027\" data-ad-slot=\"1411897411\" data-ad-format=\"auto\"><\/ins><br \/>\n<script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/code><\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.alternativeadvert.com\/show.php?z=30&amp;pl=10604&amp;ad_type=59&amp;rl=180\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria and African richest business mogul, Aliko Dangote has urged the federal government to sell off the Nigerian Liquified Natural Gas company, NLNG as well as other dormant but huge capital-generating sectors and invest the proceeds back into the economy to bring Nigeria out of its current recession before the end of fourt quarter. In [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":11524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1],"tags":[273,87,1000],"class_list":["post-11523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-aliko-dangote","tag-chinese","tag-nlng"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2016\/09\/NLNG-620x330.png","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-2ZR","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/11523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11523"}],"version-history":[{"count":1,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/11523\/revisions"}],"predecessor-version":[{"id":11525,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/11523\/revisions\/11525"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/11524"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11523"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}