JP Morgan, a global investment bank, has revealed Africa’s biggest economy is upping its game in a bid to unlock $17 billion from asset sales, a move aimed at relieving pressure on the country’s struggling FX liquidity.
“The authorities are in the initial stages of identifying assets for sale, which may provide some medium-term relief,” JP Morgan said in its latest report about Nigeria.
It added, “For example, the President’s policy advisory council has recommended the government sell down its stake in the most joint-venture oil and gas assets, a proposal that is estimated to bring in up to US$17bn.”
Source: Africa News Agency