FORMER President, Chief Olusegun
Obasanjo has thrown his weight behind call for
the sale of national assets to raise money by the
Federal Government, but, cautioned the
government against selling them to cabals.
Obasanjo also said he foresaw the current
economic recession two years ago and warned of
its consequences.
The former President said this, yesterday, at the
opening session of a two-day National Council of
Finance and Economic Development conference
held at the Green Legacy Resort, Olusegun
Obasanjo Presidential Library, Abeokuta.
The conference was held in conjunction with
Federal Ministry of Finance with the conference
theme: Enhancing Revenue Generation and
Obtaining best value for money in expenditure.
The former president, who identified port
authorities and Nigeria National Petroleum
Corporation, as part of assets that Nigeria could
partly sell to generate fund, said: “I think the
problem is in the coinage selling of asset as if we
want to throw away our inheritance.
His words: “Look, the Nigeria National Petroleum
Corporation, NNPC, was run as personal things,
even the Central Bank was also run that way.
They write notes to the Central Bank to release so
much. We cannot have a country run that way.
We started NNPC about the same time Norway
started and look at where we are.
I said it this morning, two institutions that were
not tampered badly or not tampered at all in the
last six years, was NLNG, the second one was
pension fund which is going to about N6 trillion
which has captured only seven million people out
of over 20 million wage earners, if we can even
double that, you imagine what that can be.”
Continuing, the former president said: “I see no
reason why 48 percent of NNPC cannot be
privatised. Don’t give it out to cabals, friends,
relations, kiths and kins, let it go public so that
even my driver can buy 10 per cent of NNPC and
there should be limit to the share any individual
or any cooperate organisation can buy, there is
nothing wrong in that. The NNPC will then be run
as NLNG was run.”
While calling on the Federal government to be
transparent in the sale of the assets, he said “The
only fear the people would entertain is the
magomago, if there is no ‘magomago’ in it and it
is transparent, yes. And when the money comes,
the way it will be spent, yes, and when you have
money and you want to buy again, yes.
I don’t see anything there, government should
not feel shy, lets come out and say ‘this is what
we are doing and this is why we are doing it’ and
let people see and if anybody wants to ask
questions, let them ask question, that is the way I
see it and if any person is not happy about what I
said, I have no apologies.”
On the way out, he said the major problem with
Nigeria is that “we are spending more than we
are earning and we have not been able to save for
the rainy day.”
He suggested a three-fold solution; which
includes: borrowing, spending less and earning
more to solve the nation’s economic challenges.

mykoscar007:
Baba....you've been very loud lately...


hmmmmm......my question is


who you Epp?

mamabomboy:
Whatever you and Saraki are planning, will fail and God will punish the both of you.

Kingsley1000:
any asset that is not working should be sold with immediate effect...the proceeds will be used to fund other projects

sarrki:


So baba now is the president?

You didn't even mentioned Ekwerenmadu that is the

Deputy senate president