‘Effective Auctioneering Can Bring Economic Devt To Nigeria’

The senator representing Oyo South in the National Assembly, Sharafadeen Abiodun Alli, has called on
the federal government to leverage on the gains accruable from effective, transparent auctioneering to enhance economic development and eradicate corruption in the sale and disposition of its
surpluses.

Alli who is also a distinguished fellow of the Certified Institute of Auctioneers, Nigeria, (CIAN), in his
keynote address at the 12th Annual Conference of CIAN in Abuja, said auctions provides the government
with transparent and efficient means of disposing of its surplus assets including land, vehicles and equipment.

Represented by his special assistant, Koyejo Oyetunde, the Senator also said the theme of the conference, “Auctioneering as a tool for economic recovery” is timely and taking relevance particularly as we navigate the complexities of economic challenges in Nigeria and beyond.

He reiterated, auctioneering is not merely the act of buying and selling, explaining that it is the dynamics
that it carries that can drive efficiency, transparency and revenue generation that should be the focus of the government.

“Auctions provide the government with transparent and efficient means of disposing of surplus assets
including land, vehicles and equipment. Proceeds from such sales can be used for developmental
projects, foster growth and bring infrastructural development”.

“For business persons, auctions serve as platforms to acquire needed assets at competitive prices. It
stimulates market activities and contributes to job creation, enterprise stimulation and wealth circulation. It Helps in debt recovery and financial availability as well as promotes transparency in transactions and
reduces corruption while also fostering trust among stakeholders”, he said.