FG to sell Govt assets to raise N505 billion to fund 2021 budget shortfall

FG to sell Govt assets to raise N505 billion to fund 2021 budget shortfall

The Federal Government says in addition to borrowing locally and internationally, some government-owned properties will be sold to fund the 2021 budget shortfall of N5.2 trillion.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, who made this known in Abuja, also revealed the federal government will sell some non-oil assets to serve as additional source of finance for the year’s budget.

Recall that President Muhammadu Buhari had on December 31, 2020, signed the N13.58 trillion budget for the 2021 fiscal year – about N505 billion higher than the budget proposed in October, 2020.