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Nigerian economy: A hole in my budget

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Staring at the prospect of a recession for the first time in almost 30 years, Nigeria’s government is struggling to fund its budget, which it hoped would stimulate an economy that is reeling from the impact of low oil prices.
A funding shortfall has kickstarted a debate about the future of key state assets.
President Muhammadu Buhari has tabled a budget of N6.06 trillion (R260bn) for the 2016 fiscal year. The budget is partially funded by income from oil sales which have suffered since the beginning of the year following the return of attacks on oil facilities in the Niger Delta .
Petroleum minister Emmanuel Ibe Kachikwu says half of government’s expected income has been lost as a result of the disruption to oil production.
To get around the problem (at least in the short term), it has looked for alternative ways to raise funds. And in a surprise announcement, it says it will consider selling government assets such as oil and gas plants, refineries, airports, rail lines and even a stake in the African Finance Corp.
The announcement was met with resistance from the public and some analysts who argue that transferring ownership of public assets to companies amounts to short-changing the country.
Buhari’s government says the strategy will include buy-back options to allow for the repurchase of the assets in future
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