Stakeholders want capital market involved in sale of assets

Stakeholders have appealed to the federal government of Nigeria utilise the capital market in continuation of the privatisation programme.
They want the federal government to carry out the exercise through the capital market as plans to offer more assets for sale.
The exercise, they argued, would witness high level of transparency and success, if government tapped into the resources available within the capital market space.
They maintained that it would have a multiplier effect on the economy, because government will get a fair value; and the buyers have access to funds to run the companies, while investors reap good returns on their investments.
The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, had told delegation at the end of the International Monetary Fund/World Bank Group meetings in Bali, Indonesia, that the Nigeria was ready to offer more of its assets for sale soon. 
He said the ongoing privatisation programme aimed at raising more money to implement the country’s 2018 deficit-based budget.
Already, the exercise have kicked off with the recent offloading of the Nigerian Security Printing and Minting Company Limited Plc, with the CBN, which already had majority stake, emerging the preferred buyer, given the company’s security status.
“I am aware, as a member of the National Council on Privatisation that more (assets) are coming, and I believe in due course that the Bureau of Public Enterprise (BPE), will make these available for us.  
I am aware of the situation of the Ajaokuta Steel Company of Nigeria. It is also on the cart, first for a total review of the process of privatisation and payment, so that our aluminium sector can eventually come alive,” he said.
But market operators and investors have insisted that the capital market remains the most transparent and efficient channel to divest from these assets.
Specifically, the Managing Director, Highcap Securities Limited, Imafidon Adonri, in a chat with The Guardian said there is a need to privatise all public enterprises in Nigeria, because many government officials are corrupt and cannot manage any commercial enterprise profitably.
Source: Guardian
http://guardian.ng/business-services/why-government-must-use-capital-market-for-privatisation/