HOW ATIKU MADE NIGERIA THE POVERTY CAPITAL OF THE WORLD

By Uche.


A. NigerDock is the largest ship fabrication yard in West Africa sub region. When it was sold, its Ex-MD Engr. Nkpubre Okon, openly stated how "Mr Job Creator" ignored the Transport Ministry then to Open bid for NigerDock.
The VP's camp preferred bidder, 'Global Energy' that agreed to increase NigerDock's workforce from 4,800 to 6,000 as part of privatization agreement dismissed 2,200 immediately it took ownership. Jagal Group that took over after Global Energy lost out on power play also sacked 1,400.
B. Nigeria Port Authority reform was purely contrived to grab landed properties. 10,000 workers were sacked & 133 bids opened for NPA properties consisting of 68 properties in Apapa, 28 houses in Ikoyi. The highest reserves bid was for a property in Ikoyi fixed at N390.4 Million.
C. NIGERIA RAILWAY
Did @atiku forget how 7000 railway workers were sacked in 2005 without compensation to reduce its workforce to 6,300? Another 1,260 were fired in 2006. When ATIKU and his Headmaster were leaving in 2007, they left ~N5 Billion in unpaid Railway pension arrears.
D. FEDERAL SECRETARIAT IKOYI
In 2006, Babalakin's Resort Ltd acquired this 15 storeys prime asset overgrown with weeds from @atiku and OBJ through a Development Lease Agreement (DLA) for N7.2Billion. A Court has asked Buhari to pay N54 Billion to Babalakin for their blunder. https:///cD7bTBBD6f.
The DLA, dated October 10, 2006, granted Resort Ltd a 99-years lease to redevelop the Federal Secretariat complex, that OBJ & ATIKU had abandoned for 7 years into 480 luxury apartments. This was at the eve of their departure from government. The transaction was one for the road.
The DLA hit the rocks when Lagos State Govt in the interest of the public indicated willingness in acquiring the Federal Secretariat complex. LASG insisted it should be accorded right of first refusal since LASG is the Issuing Authority of the C of O, coupled with other reasons.
Finally, lets compare OBJ & @atiku's first 3yrs in power to the first 3yrs of PMB that hasn't retrenched one civil servant, but has bailed out states on salaries. Lets not forget Atiku was in charge of the economy and OBJ gave him free hand until Galaxy Backbone scandal happened.
In 2002, first 3yrs of the ENDORSEE and the ENDORSER, manufacturing accounts for 6% of GDP. Nigeria's GDP fell by half for d first time in 20yrs. This was d year all textile factories in Nigeria closed down and unemployment was 28% within d formal sector alone; I repeat, alone!!
In 2002, UN estimated that 70% of Nigerians live below poverty line compared to 48.5% in 1998 under a military rule. Life expectancy fell from 54yrs to 51yrs. Two-fifth of every child below age 5 were malnourished and only 50% of d 128Million Nigerians have access to clean water.
copied:-
FACTUAL REPORT ON HOW ATIKU SUPERVISED THE SALES OF OVER 145 FG INVESTMENTS AS A VICE PRESIDENT !!!
Please I do not have any partisan political agenda, rather factual report on ATIKU as a Presidential aspirant in Nigeria.
Please any or all ATIKU supporters or his campaign structure are free to deny these submission with facts not sentiments.
“As Head of National Council on Privatization (NCP), from 1999, @atiku dug Nigeria's economic grave for today's extreme poverty and unemployment.
There were over 600 federal assets when @atiku's NCP started selling.
Atiku should tell us who bought what and what was left for the country when he left power.
Nafcon
Eleme Petrochemical
Daily Times
Ughelli Power
Egbin Power
NICON Insurance
ALSCON
Transcorp Hilton Hotel
NICON Luxury Hotel
Sunti Sugar Ltd
NetCom House
Bacita Sugar Ltd
MM2
In 2007, Onigbolo Cement operating at 500,000 tonnes per annum was sold to Dangote at N1.7Bn ߘ
To those selling Atiku, let me remind you of @NGRSenate public hearing of August, 2011 which succinctly captures how @atiku through retinue of cohorts, fronts, shell companies, ring fenced over 70% of FG's assets through a brazen daylight robbery privatization that he supervised.
This is nothing sensational. Its real life facts and all the Senators are alive today.
The 2011 privatization Senate committee was made up of Senator Ahmed Lawan ¢ Chairman, Senators Babafemi Ojudu, Philip Aduda, Mohammed Ndume, Ifeanyi Okowa, Hope Uzodinma and Mohammadu Magoro.
Lets look at Aluminium Smelting Company, ALSCON, that Atiku privatized.
ALSCON which Nigeria built with $3.2 billion, was sold to a Russian firm, Russal, for $130million. As of the time of sale, ALSCON had received $120million for the dredging of Imo River, but was never done.
When the Senate Seating of August, 2011 asked the Russian company the whereabouts of the $120million dredging money, the company's Deputy Managing Director, Vitaly Kuzrestov, said that the money has been used for Environment Impact Assessment." EIA kii you there. ߘ
FG's Five percent share in Eleme Petrochemical worth USD27 million was never presented to at the National Council on Privatization before t'was sold to Indorama.
Indorama recovered this amount selling Polyethylene and Urea to the entire west Africa sub-region in just 14 months.
The Atikulate Business Theory: Sell to yourself Government assets that leaves millions in penury, to set up personal businesses that provides for a few. @Atiku didn't employ the few hundreds he employed because he likes them, he needs them to work to preserve what he took from Government.
Fam, the business acumen of Atiku you are bandying about is smelly.
A man who supervised sales of over 145 federal investments as a vice president, without a thought for today wants to be president.
He didnt revitalize them.
He didnt resuscitate them.
He sold them to whomever.
May Nigeria ٰ߇Ӱ߇ succeed̢


https://area.com.ng/index.php/forum/thread/185/how-atiku-made-nigeria-the-poverty-capital-of-the-world/

Buhari is 100 percent responsible for making Nigeria the poverty capital of the world

u meant to write Buhari i think?...because he solely is the cause of our problem....i've never seen anyone so indifferent to the plight of his people

OP your mumu never do? This na old story. Come up with another one.

OP why is your own MUMU so stubborn..? I never see

Buhari's number one failure was his not firing government workers. As the price of oil fell, government had few choices, either protect public sector workers or private sector workers. Buhari choose to protect the civil servants. For an entrepreneur to employ a person, he/she must have a need for the worker and the worker must provide a benefit to the business. The government on the other hand can employ as many people as it can afford to provided money is available to pay the workers. This makes it easier for the government to employ workers than the private sector. Yet, for politic reasons, most governments fail to fire workers when they cannot pay them.

The government would rather borrow money which leads to higher interests rates, devalue the naira by printing more naira or sale government properties to raise funds to pay workers. All these actions end up destroying the private sector and would all eventually lead to mass poverty.

What I am trying to say is that the op is making Atiku's point. If you look at the economy during Obasanjo's tenure, more private companies and businesses were opening and many more Nigerians were getting employed as their government was carrying out the privatisation. Most of the government owned businesses were running at huge losses and were a drain on national resources.

Nigerians indeed need to desist from the empty promises Atiku is trying to fill the air with as it is clearly obvious that he has nothing to offer Nigerians

You knew all these yet the Mr integrity was busy drinking expensive wine in his private jet back then in 2015

Try harder, this one is not working

SarkinYarki:
Buhari is 100 percent responsible for making Nigeria the poverty capital of the world

Right....was this when he ruled as Military head for one year....or when he took over as Democrat four years ago....because bad things don't just happen overnight....they happen white force and momentum......if you want to open the books a good place to start us with OBJ and our friend who is on the road but never seems to cum....

trillville:
Buhari's number one failure was his not firing government workers. As the price of oil fell, government had few choices, either protect public sector workers or private sector workers. Buhari choose to protect the civil servants. For an entrepreneur to employ a person, he/she must have a need for the worker and the worker must provide a benefit to the business. The government on the other hand can employ as many people as it can afford to provided money is available to pay the workers. This makes it easier for the government to employ workers than the private sector. Yet, for politic reasons, most governments fail to fire workers when they cannot pay them.

The government would rather borrow money which leads to higher interests rates, devalue the naira by printing more naira or sale government properties to raise funds to pay workers. All these actions end up destroying the private sector and would all eventually lead to mass poverty.

What I am trying to say is that the op is making Atiku's point. If you look at the economy during Obasanjo's tenure, more private companies and businesses were opening and many more Nigerians were getting employed as their government was carrying out the privatisation. Most of the government owned businesses were running at huge losses and were a drain on national resources.

There are some things that should not be privatised.....and with atiku saying he wanted to privatize Nnpc I couldn't agree with him....

Bad Reportage. Atiku invested Nigeria's Money on Education and Universities not on Cows, Herdsmen Bandits and free VISAS.

orisa37:
Bad Reportage. Atiku invested Nigeria's Money on Education and Universities not on Cows, Herdsmen Bandits and free VISAS.

Lie,which university and which education? When we had the longest university strike in Nigeria between 2002-2007 until year adua broke a deal with ASSU. WITH SOME LASTING FROM 9MONTHS-11MONTHS within period under review. Go n do ur research well before posting.
Pls don't forget to check our universities ranking on webometric and other worldwide universities ranking and also in Africa.

Nigeria isnt truly the Poverty Capital of the world, we merely devalued our currency, hence 2 dollars a day that ordinary was 300 is now 700

That we had Atiku and Buhari as presidential candidates was the saddest thing about the elections.

2 very uninspiring candidates, to say the least