www.agendang.com/index.php/multimedia/photos/item/151-obasanjo-destroyed-nigeria-power-sector-atiku-abubakar

That is why when there was an investigation by the
National Assembly; nobody invited me because my
name was never there. Contracts were awarded
and paid 100 per cent upfront; people disappeared with the money, and even stole, yet no power. I stand by this: We must have short- term, medium-term and long- term power solutions.

I recently called for the reversal of the privatisation of the Power Holding Company of Nigeria. How does one begin to privatise distribution? Distribution of what? There is no power. First of all, one should start with generation. When one starts with generation, then transmission follows. After there is enough power, then one knows that one has the capacity to
transmit and then one can now distribute. But they
started with distribution, distribution of water or
what?

I mean, one can’t do that. Now we have privatised
distribution, where is the power to distribute? No
power! And they borrowed money from the banks
to go and set up these companies. They said the
Federal Government gave billions to encourage the
privatisation; now they are not recouping the
money. They have huge loans. There will be
interest and there is no power to distribute. They
have also increased electricity tariff when there is
no power.

Some people have called for the removal of fuel
subsidy while oil price in the global market has
crashed.

First and foremost, I was in charge of deregulation
and we had started. If we had continued our
programme, we would have finished deregulation
before our government left office. But unfortunately we did not. Thus, as far as I am concerned, I’m in for full and total deregulation in the downstream oil sector. Let the market determine (the economic needs).

Believe me, we are complaining now because there
is subsidy. By the time one deregulates and opens
the market, everybody is free to bring in these
finished products and sell, there will be competition and the prices are even likely to come down. I am for deregulation. There is no doubt about it because at the end of the day, I think that is the best for the country.

On the issue of the prices of petroleum, I don’t
think $50 is too low because when we came in,
how much was it? $20? Yet we were able to
implement our programmes. Therefore, it is all an
issue of planning. Of course, governments, both
military and democratic, over the years have
always been talking of diversifying the economy,
but no government has really focused on the issue
of diversifying the economy so that the reliance on
oil can be reduced substantially.

abduljabbar4:
Atiku is just sad because of his loss at the primaries. He feels like he would have been the president by now

doctokwus:
I may not respect his past,but one has to respect d fact that Atiku made a lot of sense in all what he said.
The privatisation of distribution of power was not only one of d most clueless policies of d GEJ govt,but was also a scam.The generation shd have come first,then after tangible increase d distribution or d govt can even allow private generating firms to also distribute what they generate.
On d oil sector ultimately subsidy has to go,but it would honestly b foolish to do so without getting our refineries working.The risk of removing subsidy without working refineries is that a new set of cabals might emerge in our kind of country with very weak institutions;they decide on a common price and since they control imports can force these common price down our throats. In saner climes,there are stiff penalties for price fixing by a group of companies,but here that may not b enforceable.
So fix d refineries,give licenses to private ones and give Nigerians a time line,that in maybe 2yrs time,govt wudnt subsidize fuel again.Of course by then local production would have increased and true market forces come into play.

doctokwus:
I may not respect his past,but one has to respect d fact that Atiku made a lot of sense in all what he said.
The privatisation of distribution of power was not only one of d most clueless policies of d GEJ govt,but was also a scam.The generation shd have come first,then after tangible increase d distribution, or d govt can even allow private generating firms to also distribute what they generate.
On d oil sector ultimately subsidy has to go,but it would honestly b foolish to do so without getting our refineries working.The risk of removing subsidy without working refineries is that a new set of cabals might emerge in our kind of country with very weak institutions;they decide on a common price and since they control imports can force this common price down our throats. In saner climes,there are stiff penalties for price fixing by a group of companies,but here that may not b enforceable.
So fix d refineries,give licenses to private ones and give Nigerians a time line,that in maybe 2yrs time,govt wudnt subsidize fuel again.Of course by then local production would have increased and true market forces come into play.

Rxpetite:
He made a lot of sense. But as usual YORUBAS will be quick to crucify the messenger and discard the meessage along with him.
He is a scumbag and a thief. I doubt his intentions are purely for the sake of Nigeria's welfare but he made a lot of sense.

doctokwus:
I may not respect his past,but one has to respect d fact that Atiku made a lot of sense in all what he said.
The privatisation of distribution of power was not only one of d most clueless policies of d GEJ govt,but was also a scam.The generation shd have come first,then after tangible increase d distribution or d govt can even allow private generating firms to also distribute what they generate.
On d oil sector ultimately subsidy has to go,but it would honestly b foolish to do so without getting our refineries working.The risk of removing subsidy without working refineries is that a new set of cabals might emerge in our kind of country with very weak institutions;they decide on a common price and since they control imports can force these common price down our throats. In saner climes,there are stiff penalties for price fixing by a group of companies,but here that may not b enforceable.
So fix d refineries,give licenses to private ones and give Nigerians a time line,that in maybe 2yrs time,govt wudnt subsidize fuel again.Of course by then local production would have increased and true market forces come into play.

ahaz:
what is wrong with you yorubas anything said about ur folks is wrong buy if it's against Jonathan it's correct, yet u hypocrites claim sophistication you claim non bias. Is it not the same atiku u folks have being hailing. Or re all knowing tribe breastfeeding during objs Era to be ignorant of his poor outing in the power sector, shame on u people only idiots take u yorubas serios

Rxpetite:
nnaah what is it?

mike404:
wetin