A former military administrator of Kaduna State, Col. Abubakar Umar (retd.), on Monday asked the Federal Government to investigate the role played by President Olusegun Obasanjo in the privatisation programme. Umar said the investigation should be concluded in Obasanjo’s lifetime.

Umar who ruled Kaduna State between 1985 and 1988, in a statement in Kaduna, wondered why all the major initiatives embarked upon by the Obasanjo administration from 1999 to 2007 “have been such spectacular failures.”

He said, “Indeed not a few Nigerians are keen to know why all the major initiatives embarked upon during the eight years Chief Obasanjo ruled the country – privatisation, power sector reforms, alienation of Federal Government Properties, 2003 general elections, 2007 general elections, etc. – have been such spectacular failures.

“The Federal Government owes it to posterity to order for an investigation into these disasters immediately and not to wait a day longer. To wait until Chief Obasanjo might have died (as all of us will, some day) would expose it to charges of wickedness. When that happens, it would have no coherent defence.”

An ad hoc committee of the Senate is currently investigating the Federal Government’s privatisation programme from 1999 till date. Members of the committee at the weekend said they might invite Obasanjo to come and defend himself against allegations of interference in the programme levied against him by former heads of the Bureau of Public Enterprises.

A former Director-General of the BPE, Dr. Julius Bala, had alleged that the former president interfered in the sale of the Delta Steel Company by rejecting the bid won by BUA International, and promoting the bid of the Global Infrastructure Company.

One of the major discoveries of the investigation was that the Aluminum Smelter Company of Nigeria, which was constructed with $3.2b, was sold in 2005 to Rusal for a paltry $250m. However, Bala, explained that the Presidency acted on the advice of the National Security Adviser.

The panel was also told that the concession of the Ajaokuta Steel to Global Steel was completely handled and negotiated by the Ministry of Steel Development, under the direction of the former President. A top official, who confirmed the development, then told the committee that it was a violation of the Privatisation Act. Also, Obasanjo’s name came up during the session on the sale of NICON Insurance to Global Fleet.

Another former DG of the BPE, Nasir El-Rufai, also said that government interference was a major problem for the privatisation exercise. He alleged that Obasanjo “practically blocked the sale of Nigeria Airways.” He also mentioned that the former President and former Vice- President Atiku Abubakar, made efforts to influence the privatisation process.
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