₦airaland Forum

olarent:
In the best interests?2days to end its tenure common please think, it's personal interest

Firstly, I don't respond to foolish replies on social media as it doesn't make sense because it wastes my intellect except to educate other people. Secondly, I read about two or three postings made by the person on the same or previous topics.

As I have said several years ago, about 80% of people on Social Media are not intelligent but fools, very dull and not informed or exposed.

Thirdly, on nairaland, I have said it several times when I was using my personal account (babaolofin) that anytime somebody starts a message with " I am a Yoruba " there is 99% possibilities and assurances that the person is not a Yoruba. That's is one of the foolish things on Social Media. In real life, in 2007 at Abuja, I have seen IBOs with International Passports with Yoruba names applying for UK Visa.

Coming back to Obasanjo completing the privatization processes of NNPC few days to handing over after the National Assembly failed to pass the Third Term Bill and series of fights between OBASANJO and labour led by Adams Oshiomhole and others between OBASANJO and NNPC unions, then if you don't know how long the processes took and why everything has to be completed before he leaves office you are not qualified to make a response to any of my submissions.

Yaradua government have nothing to offer Nigeria. They just want to undo all the Reforms carried out by OBASANJO and loot and squander Nigeria resources which they ended up doing with Jonathan.

SmartyPants:
Falana did not defend or attack anyone. He just gave you facts and context. Use your head and reason like a living being!

Falana is a typical noise market with self-interest. Falana is already in court regarding the Sunrise vs Nigeria Mambila Dam arbitration, and it seems like his clients are presently losing the case following OBJ testimony. Falana was a presenter during the Fuel removal debate that spoke for the retention of Fuel subsidies in 2012.

Atiku was the chairman of the National Council on Privatization, Atiku solved off Ajaokuta, Delta Steel, to the Indians; he sold the ALSCON to the Russians and finally, Atiku sold the paper mills to companies that turned them into import-dependent agencies.

At least we know that Dangote is an astute business that has transformed three industries: Agric: tomatoes, Cement and PMS. Had Atiku been responsible for selling the refineries, they would have ended up where they are today- scrap.

His first term was mainly characterized by his role as Chairman of the National Economic Council and head of the National Council on Privatization, overseeing the sale of hundreds of loss-making and poorly managed public enterprises alongside Nasir El Rufai

https://www.thisdaylive.com/index.php/2024/03/03/breaking-the-stalemate-over-mambilla-power-project/

How Atiku Abubakar started the Privatisation that made most Nigerians JOBLESS. Wicked People!


BOOM!!!

To those who don't know how the current hardship and poverty in Nigeria started, take your time and read this. Then investigate the owners of the companies that robbed the country of her assets, those are the devils you were warned about

Read;
HOW OBASANJO, ATIKU MADE NIGERIANS JOBLESS.

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.

Atiku's 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 that blunder.

The DLA, dated October 10, 2006, granted Babalakin 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.

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 Obasanjo/Atiku, 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 the 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 the 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 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.
To who did Atiku sell the following companies:

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 �

To those selling Atiku, let me remind you of Senate 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 Sitting 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."

FG's Five percent share in Eleme Petrochemical worth USD27 million was never presented at the National Council on Privatization before it 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

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 agrees to his personal terms

THOSE WHO STOLE YOUR 2015--2030 IN 1999--2007 ARE THE SAME THIEVES YOU ARE NOW ROMANCING TO COME BACK!!!

For how long will you allow a few to steal your future and your children's future and be giving you crumbs. Look at 1999--2007 everything we grew up to know were sold to themselves or the scrap sold for cash.

Nigeria Airways and their houses in GRA Ikeja, what happened to them? When we were growing up most of the houses in GRA Ikeja were owned by the Nigeria Airways and all now sold to whom?
Nigeria RE. The biggest re insurance company in Africa who bought it?
NICON Insurance who bought it ?
NITEL was sold for peanuts and killed by them so that their investment in AiRTEL, MTN,GLO etc will yield dividends
NITEL House one of the tallest in Marina was sold cheap to former Speaker Bankole.
What is the Status of National Stadium Surulere? Millions was budgeted for refurbishment by the sports ministry and nothing to show. Compare that stadium to Lagos State owned Thunder Balogun stadium and the difference is clear .
Nigerian National Shipping line? Where are the ships? They disappeared between 1999-2015
NEPA after Obasanjo spent $16 billion, they broke down NEPA to several units and sold it to themselves and NEPA is still not efficient while Atiku's Mikano Generators is powering Nigeria & her businesses!
Obasanjo/Atiku sold Port Harcourt Refinery to their cronies in 2007 and thank God, President Yar’ Adua reversed it .

All of these happened in the 8 disastrous locust years of the obasanjo/Atiku, Recession didn't just happen! They looted us into recession! I cannot stand and watch those who plundered the nation come back in 2023. Stop praising and voting for individuals who took your future away and stop them from coming back to steal your generation away

Nigeria has a population of 200million people we are told.

Our 2018 budget is 9 trillion Naira.

The Assets Management Corporation of Nigeria AMCON, the company that was set up to help the rich buy their debts, told us last month that, 350 Nigerians {out of 200million citizens} are responsible for 80% of AMCON's N5.4 trillion debt portfolio.
May be you did not hear that well!
AMCON said only 350 Nigerians borrowed N5.4trillion from banks, which they could not pay and AMCON came in to buy up those debts in other to save the commercial banks from collapsing.
To put that in perspective;
2018 Capital Budget is N2.4 trillion

2018 Recurrent Budget is N3.4 trillion

Add both capital and recurrent votes and you will get N5.8 trillion.

But 350 Nigerians, out of 200 million of us borrowed that same amount, they refused to pay and government came round to buy the debts over through AMCON.

The corporation also pointed out that, out of the millions of BVN numbers with the banks, only 100 BVNs collect 60% of bank lendings.

And this has left the banks with 13,000 bad loans worth 5.6trillion borrowed by "big men" who are now fighting to remove this administration so that they wont ever pay their debts!
Now, when they go to recover from defaulters like they did with Silverbird for example, the same cheated ignorant commoners are the first to cry fowl.
Some of the companies owing include:
Seaworlf Nig Ltd - 160billion
Arik Air - 300billion
Tanzila Petroleum Ltd 49.2billion
Resort Int'l Ltd - 36.3billion
Home Trust Savings - 25.75billion
Suru worldwide ventures - 24.4billion
Roygate properties- 23.26 billion
Ziglagsis network Ltd - 20.33 billion
Lexcap partners - 18billion
Anyiam Osigwe Ltd - 17.25billion
Silverbird - 11 billion
Wokson International - 5 billion

From the figures above:
Arik alone is owing more than the 2018 Ministry of Transportation budget which is N263 billion.
Seaworlf Nig Ltd, is also owing more than the 2018 Ministry of Defence budget which is N145 billion.

It's not rocket science which is a product of our contrived emotions not our lack of education is exonerating, encouraging and emboldening them to make desperate attempts to come back o power!

Enough of this madness brethren and sisthren!
https://www.nairaland.com/7132730/how-atiku-abubakar-started-privatisation

Dminister:
He only know what you know

Keep quiet

What has been spent on the refinery over the years from the Yaradua period shows that selling it off at that time may have been better.

Villa12:
should we give Emilokan 20 years??

Wait for his 8 years and then you can compare. Don't jump the gun.

sulaak:
Falana is a typical noise market with self-interest. Falana is already in court regarding the Sunrise vs Nigeria Mambila Dam arbitration, and it seems like his clients are presently losing the case following OBJ testimony. Falana was a presenter during the Fuel removal debate that spoke for the retention of Fuel subsidies in 2012.

Atiku was the chairman of the National Council on Privatization, Atiku solved off Ajaokuta, Delta Steel, to the Indians; he sold the ALSCON to the Russians and finally, Atiku sold the paper mills to companies that turned them into import-dependent agencies.

At least we know that Dangote is an astute business that has transformed three industries: Agric: tomatoes, Cement and PMS. Had Atiku been responsible for selling the refineries, they would have ended up where they are today- scrap.





https://www.thisdaylive.com/index.php/2024/03/03/breaking-the-stalemate-over-mambilla-power-project/

I don't see what all you posted has to do with anything. Falana says the process was cancelled because it did not follow the legal due process. Is that true or false? What does Falana's personality or Atiku's corruption have to do with this?

WHAT THE VP CAN DO, MR PRESIDENT, THE BOSS OF THE VP CAN ALWAYS DO MORE AUTHORITATIVELY AND LEGALLY THAN A RECALCITRANT SON OF A BEAST. THE NASS SHOULD PLAY A ROLE IN THIS KIND OF DEALS. THE NASS REPRESENTS THE PEOPLE.

Sannisege:
Obasanjo remains the most corrupt president in Nigeria’s history. All his dirty deals must be exposed and he must enter his grave in disgrace.

obasanjo remains the most growth oriented president Nigeria had followed by yaradua and Goodluck Jonathan.

SmartyPants:
I don't see what all you posted has to do with anything. Falana says the process was cancelled because it did not follow the legal due process. Is that true or false? What does Falana's personality or Atiku's corruption have to do with this?

Atiku was the chairman of the National Council on Privatization. His record was shocking and needed investigation; hence, due process should have been investigating the entire privatisation process under Atiku's tenure. And identifying new means of privatisation.

During the privatization process under Obasanjo, Atiku was the Chairman of the National Council on Privatization (NCP). He allegedly influenced the sales of government enterprises to his friends—he recently callously said he’ll enrich his cronies, again.

Of course, there is nothing wrong in privatization since it increases efficiency and profits, however, Atiku’s selfish interests and bad decisions did not allow for an efficient liberalization process.

Atiku was also implicated in the Halliburton scandal that led to the imprisonment of American congressman, William Jefferson.

sulaak:
Atiku was the chairman of the National Council on Privatization. His record was shocking and needed investigation; hence, due process should have been investigating the entire privatisation process under Atiku's tenure. And identifying new means of privatisation.

And the new method was to break the law and unilaterally hijack a process laid down by law?? lol.

olaiya2007:
Yaradua would have transformed this country if not for death

Did he transform Katsina in 8 years? It's the same way people said Tinubu transformed Lagos, so he will transform Nigeria. But did he transform any of the SW States he controlled for over 20 years through his proxies?

Vision101:
Wait for his 8 years and then you can compare. Don't jump the gun.

he has just 4 years

SmartyPants:
And the new method was to break the law and unilaterally hijack a process laid down by law?? lol.

The law has already been broken at an industrial scale. Your argument to defend due process that doesn't exist is unfortunate.

Falana should be querying OBJ on why he didn't sack and investigate Atiku's shenanigans.

Dminister:
They killed yar adua because they saw he was transforming the country.

Although various people were arrested and tried for involvement in the murder of former attorney -general of Nigeria, Bola Ige, all were acquitted. As of November 2010 the killers had not been found. He was buried in his home town in Esa-Oke, Osun State.

2+2

Thiefobi1:
Good things don't come easy.

Boy that is far from reality., they thought its video game ... This is real life

Bobodee09:
How many times did you see northerners criticise buhari online
How many times have you see igbo criticizing there governors online.

See am in support of them doing that for reasons best known.

If there criticism is constructive then it will makes sense but most times is born out of hate and bias.

Even the good policies this people still attack him....that makes no sense.

Tell am ooo, only thing he sees is negativity

Villa12:
Good

I never praised yaradua and i never said there might not be other better president that'd surpass obj but we haven't had that president yet x

I'm only trying to correct the Hatred Fearyourcreator and the likes had for Obj because he didn't support Tinubu.

Wetin you sabi , small boy

Villa12:
Your hatred for OBJ will not make Tinubu achieve what he has achieved in life.

Hate OBJ for what exactly? Man very corrupt like crazy... Ask people that voted 2003 and 2007 , nobody fit talk... Obasanjo no dey person to dey abuse TINUBU cus he showed the man sege from 1999 to 2007 still baba still run Lagos soft

Fearyourcreator:
Hate OBJ for what exactly? Man very corrupt like crazy... Ask people that voted 2003 and 2007 , nobody fit talk... Obasanjo no dey person to dey abuse TINUBU cus he showed the man sege from 1999 to 2007 still baba still run Lagos soft

Tinubu is the 3rd most corrupt leaders in the world. Latest ranking. Keep defending your tribe man for peanut. Data boy

Fearyourcreator:
Wetin you sabi , small boy

Tinubu is the 3rd most corrupt leader in the world 🌎

Apcshyte:
Keep quiet

Faceless platform where you can insult people bigger than you. Try this with me eye ball to eye ball and I know you won’t dare. Ewure

Villa12:
Tinubu is the 3rd most corrupt leaders in the world. Latest ranking. Keep defending your tribe man for peanut. Data boy

You are too far from reality as usual

Fearyourcreator:
You are too far from reality as usual

Tinubu is a known criminal, a drug baron with dirty teeth. Obj is the most respectful president in Nigeria so far

Villa12:
Nigerians never experienced untold hardship under Obasanjo regime. We only experience it in Tinubu government. Obasanjo policies had a positive impact on the average man on the street unlike your emilokan anti people policies.

I don't know where some of you have this good impression about Chief Olusegun Obasanjo; either you were so young when he was president or you were not versed in his policies. Obasanjo was the first president in the current civilian dispensation who had the opportunity of setting the pace for a better Nigeria. He started well but when over ambition and greed got the better of him, he messed up the whole polity, which we are still suffering the dire consequences till today. He was such an hypocrite that he said he was fighting corruption but was deeply entrenched in it just like the 'chichidodo' in Ayi Kwei Armah's The Beautiful Ones Are Not Yet Born. This was a bird that said it does not eat excrement but eats maggots. Where would it find maggots if not from excrement. Obasanjo was the one who laid the foundation of the corruption in the National Assembly, 'organising do or die election and corrupting INEC. He had the record of superintending over the worst elections in Nigeria in 2003 and 2007. He fraudulently cajoled Nigerians to invest in his Obasanjo library and established the Bell University as a sitting president. How many people can still remember his shareholding in companies, especially the one in which Ndidi Nkeruike was the DG then? What of the several billions of dollars wasted on Turn Around Maintenance of refineries and electricity? Obasanjo failed Nigeria. This is why I usually feel pained whenever he now turned sanctimonious, always seeing bad in all his successors right from Yar'Adua, to Jonathan, to Buhari and now Tinubu. I am not saying these leaders have performed well, but Obasanjo should never be in the position to promote himself as a saint.

Dminister:
Faceless platform where you can insult people bigger than you. Try this with me eye ball to eye ball and I know you won’t dare. Ewure

Who insulted you

YARADUA: The best president we never had

Dminister:
Faceless platform where you can insult people bigger than you. Try this with me eye ball to eye ball and I know you won’t dare. Ewure

Keep quiet isn't insult

Bobodee09:
How many times did you see northerners criticise buhari online
How many times have you see igbo criticizing there governors online.

See am in support of them doing that for reasons best known.

If there criticism is constructive then it will makes sense but most times is born out of hate and bias.

Even the good policies this people still attack him....that makes no sense.

Good talk, Supported!

IronCondemned:
Olatunji Olakanpko Olaniyi, when where you born?

All these Mama thank you that insults Obasanjo.
I still say it that Yorubas lack respect for elders, they only pretend.

How can you insult a man like Obasanjo because of a THING like Tinubu.

We don't insult Goodluck Jonathan in my region, he is golden.

Na wa for una tribe sha.

Where in my writeup did I insult Obasanjo.

It's obvious you are an IPOB idiot...

Bobodee09:
If you are 50 and you can be defending such gross corruption then is a big shame.

Once again which president will sell a national asset 2 days to end of his tenure?? Uncle thunder74

The real problem is the corruption in Nnpc, please read Obasanjo's response to their invitation.


"It’s disrespectful,’ Obasanjo slams NNPC over invitation to inspect refineries
Published 9 hours ago on January 4, 2025 By Obinna Ezugwu

Chief Olusegun Obasanjo, a former President of Nigeria, has berated the Nigerian National Petroleum Corporation (NNPC) Limited over an invitation extended to him to inspect refineries, noting that it is disrespectful.

The state oil company had through its spokesperson, Olufemi Soneye, invited the former president for a tour of the Port Harcourt and Warri refineries.

The corporation’s invitation followed an interview on Channels Television on Thursday, during which Obasanjo recounted failed efforts to privatise oil plants in the country.

The former president expressed frustration over the mismanagement of refineries, noting that despite significant expenditure since 2007, no results had been achieved.

He explained that his successor, Musa Yar’Adua, rejected a $750m offer from the Chairman of the Dangote Group, Aliko Dangote, to manage the Port Harcourt and Kaduna refineries.

According to Obasanjo, the NNPCL was aware of its limitations in managing the nation’s refineries but informed Yar’Adua that the corporation could operate them, leading to the rejection of Dangote’s offer.

“When I was president, I wanted to do something about the three refineries we have: Port Harcourt, Warri, and Kaduna. Aliko got a team together after I asked Shell to come and run it for us. And Shell said they wouldn’t. I said, ‘Please come and take equity’, they said no. I said, ‘Okay, don’t take equity, come and run it’, they said no,” he explained.

“Aliko got a team together and they paid $750m to take part in PPP (Public–Private Partnership) in running the refineries. My successor refunded their money, and I went to my successor; I told him what transpired; he said NNPC said they wanted the refinery and they could run it, and I said, ‘But you know they cannot run it.”

Obasanjo added, “But I was told not too long ago that since that time, more than $2bn had been squandered on the refineries, and they still would not work.”

And this same Obasanjo would open his dirty mouth to criticize other successive administrations, when he has badly damaged the foundation. He is practically the most corrupt Nigerian former leader.