₦airaland Forum

Brendaniel:
Same thing Tinubu and his supporters used to demonize PDP, OBJ and Atiku

It is clear these people were never after a working country but only after ethnic supremacy

OBJ na igbo abi? Because I don't understand what you mean by ethnic superiority

Silasworld:
Please they should do that quickly.
The current Nigerian government are terrible business managers

..they should do nothing..& lesve the privitazation of those entities for a government with certificates..


..you expect someone with a fake certificate to be trusted with selling..?..pls tilumbu shoild nöt touch those Corporations..until he is shown the way out..

When PDP wanted to do this same thing, APC and some ronu Yorubas shouted to high heavens but here they are planning to do same thing

casualobserver:
OBJ sold off these companies to people without capacity and majority of those companies never worked and people got laid off.

It’s not the idea that is bad, it’s the corrupt way it was done. If refineries and other govt parastatals are sold off to cronies again then it’s more of the same. If it is sold to professionals with technical and financial capacity then it will work.

Yes to those who do not have capacity like Dangote who from there have gone ahead to build one of the biggest Refinery in the world. Like Femi Otedola one of the winners for the government Refinery.
I think you guys eyes have cleared now, we said it then that Yaradua made a huge mistake cancelling out those sales then but you people were hailing him

This is very unfortunate. So Nigerian government cannot manage her assets. This privatization is going to be for themselves, friends and family members. They have stolen enough money for them to be able to acquire every national asset. There is God in heaven. The same God who delivered the children of Israel out of bondage from the land of Egypt will surely deliver Nigerians.

Helinues where are u and apc foot soldiers oya defend this.. 😁😁

stop complaining. when Yar'adua reverse OBJ decision to sell the refineries, una dey clap then. you call OBJ all sorts of names.

today, you dey wish Yar'adua should not have done that. make dem sell some of the assets.
i suspect Sapagote go buy the refineries to remove competition

Etlmbuk:
This is very unfortunate. So Nigerian government cannot manage her assets. This privatization is going to be for themselves, friends and family members. They have stolen enough money for them to be able to acquire every national asset. There is God in heaven. The same God who delivered the children of Israel out of bondage from the land of Egypt will surely deliver Nigerians.

dre11:
FG mulls privatisation of Ajaokuta Steel, refineries, airports, 89 other enterprises




https://thesun.ng/fg-mulls-privatisation-of-ajaokuta-steel-refineries-airports-89-other-enterprises/?amp

This is the way to go. The only ask is that its done speedily and professionalyy. The reality is that the private secor has far more access to Capital than the Federal Government. When we privatised telecoms, the money invested by MTN alone in buying that license and setting up in the first 5 years, could not have been invested by the Federal Government in 20 years.

Funny enough, when Nigerians go to Dubai and say "see what Dubai government has done with oil money", they stupidly believe that all the skyscrapers they see are built by the government. Some are, but I can bet you like 50% are built by private companies to be leased as office space to hundreds of other foreign companies that are looking to establish an office in Dubai because there is business to be done there and money to be made. That is how development comes to a country! Not by expecting the government will build everything with oil money.

if you are open for business, private capital will build office buldings
if you are open for tourism, private capital will build hotels, clubs, bars, waterparks and other fun places.
if you are open for business and tourism, private capital will see the need to invest in your airports and ports

From these private capital, infrastructure develops and jobs are created.

Even EMAAR that is majority owned by the government, and built Burj Khalifa and many other buldings in Dubai, its not only government money that was used. If they want to build a portfolio of 10buildings worth $2bln, then will issue a bond to raise that money. And investor from around the world will invest because they beilieve in the economy and vision and because the economics of the project is sound.

But Nigerian visitors will go to Dubai and say Dubai government built ALL of Dubai with oil money.

We need to privatize ALL government assets and let private capital flow!!!

There is no need for FG to use scarce resources on:

1. The 4 international airports
2. Key highways in the country that can be profitably tolled
3. Ports
4. Power plants/Electricity generating companies
5. Office buildings in Abuja ( let private companies build and govt will do long term lease- helps to manage govt cashflow better)

Lifestone:
Yes to those who do not have capacity like Dangote who from there have gone ahead to build one of the biggest Refinery in the world. Like Femi Otedola one of the winners for the government Refinery.
I think you guys eyes have cleared now, we said it then that Yaradua made a huge mistake cancelling out those sales then but you people were hailing him

Dangote was only 1. An exception to the rule does not nullify the rule. Over 400 govt companies were sold under Obasanjo. Even the BPE the agency that sold them later said only 10 are doing well. Most of them are moribund today after the purchasers stripped the assets and laid off workers.

Let me give you a list and you can tell me which ones are functioning and profitable, still employing Nigerians and which ones are moribund. Let me challenge you to list a privatized govt company that is working and for every one I will give you a list of 10.

Here are just a few of the 400

Iwopin paper mill
Nigeria airways.
Nitel
Iwopin paper mill
/federal-superphosphate-fertilizer-company-limited
/nigerian-newsprint-manufacturing-co-ltd/
Ajaokuta steel
Jos steel

Abuja Distribution Company;
Benin Distribution Company;
Eko Distribution Company;
Enugu Distribution Company;
Ibadan Distribution Company;
Yola Distribution Company (reversed due force majeure)
Ikeja Distribution Company;
Jos Distribution Company;
Kano Distribution Company;
Port Harcourt Distribution Company; and
Kaduna Distribution Company

Nigerian mining company
Nigerian coal corporation

Etlmbuk:
There is God in heaven. The same God who delivered the children of Israel out of bondage from the land of Egypt will surely deliver Nigerians.

^^^

9jawazobia:
Helinues where are u and apc foot soldiers oya defend this.. 😁😁

Stop trolling us daily on this forum. You can express yourself without seeking our validation

it is a shame that NNPC can not operate the refineries.

casualobserver:
Dangote was only 1. An exception to the rule does not nullify the rule. Over 400 govt companies were sold under Obasanjo. Even the BPE the agency that sold them later said only 10 are doing well. Most of them are moribund today after the purchasers stripped the assets and laid off workers.

Let me give you a list and you can tell me which ones are functioning and profitable, still employing Nigerians and which ones are moribund. Let me challenge you to list a privatized govt company that is working and for every one I will give you a list of 10.

Here are just a few of the 400

Iwopin paper mill
Nigeria airways.
Nitel
Iwopin paper mill
/federal-superphosphate-fertilizer-company-limited
/nigerian-newsprint-manufacturing-co-ltd/
Ajaokuta steel
Jos steel

Abuja Distribution Company;
Benin Distribution Company;
Eko Distribution Company;
Enugu Distribution Company;
Ibadan Distribution Company;
Yola Distribution Company (reversed due force majeure)
Ikeja Distribution Company;
Jos Distribution Company;
Kano Distribution Company;
Port Harcourt Distribution Company; and
Kaduna Distribution Company

Nigerian mining company
Nigerian coal corporation

casualobserver:
Dangote was only 1. An exception to the rule does not nullify the rule. Over 400 govt companies were sold under Obasanjo. Even the BPE the agency that sold them later said only 10 are doing well. Most of them are moribund today after the purchasers stripped the assets and laid off workers.

Let me give you a list and you can tell me which ones are functioning


https:

That doesn't make privatisation bad. In most cases those companies had already failed to the extent that it could never recover.

Transcorp Hilton was sold by government and doing well.
MTN, Airtel and Glo came to take the spot of NITEl/Ntel and they are doing well
GTB, Zenith and co came to life during the privatisation of banking and they are doing very well. The govt banks like ABC, National etc have been subsumed by the private ones.
Schools reverted to their missionary owners are doing well.
Was Okomu oil palm not govt owned at one point? Now they are blowing on the stock market
Multiple govt cement plants have been sold to private sector and are doing well.
Geregu power plant was sold to Otedola, Afam to Elumelu and another to Davido father and they are doing well.
Indorama was formerly Eleme petrochemical and is doing wonderfully well

frog12:
it is a shame that NNPC can not operate the refineries.

Nigerians are too crooked to manage state owned enterprises.. at the same time these companies are a source of jobs for the people. A lot of the unemployment we face came as a result of the sale of these companies to people without financial or profession/technical capacity who ran them down. Just imagine the number of staff retrenched by Nigerian Airways alone..

COMPAQ:
That doesn't make privatisation bad. In most cases those companies had already failed to the extent that it could never recover.

Transcorp Hilton was sold by government and doing well.
MTN, Airtel and Glo came to take the spot of NITEl/Ntel and they are doing well
GTB, Zenith and co came to life during the privatisation of banking and they are doing very well. The govt banks like ABC, National etc have been subsumed by the private ones.
Schools reverted to their missionary owners are doing well.
Was Okomu oil palm not govt owned at one point? Now they are blowing on the stock market
Multiple govt cement plants have been sold to private sector and are doing well.

Why do we have a problem of reading and not understanding what we read? Please show where I said it was bad! I said Obasanjo sold to people without capacity and this govt must not make the same errors.

helinues:
Stop trolling us daily on this forum. You can express yourself without seeking our validation

You call this trolling this is call to service as usual now, okay please defend this strategy at least you normally have answers to a lot of government failures..If you are angry no vex Ma binu

9jawazobia:
You call this trolling this is call to service as usual now, okay please defend this strategy at least you normally have answers to a lot of government failures..If you are angry no vex Ma binu

What do you need my validation for about your opinion

Just explain

Holyfic:
Redistribution of wealth but not for the poor, mass privatisation una never see anything

Thing is you guys can never be ever satisfied. You are programmed or programmed yourself already to be bitter. Peace will never locate many of una

casualobserver:
Why do we have a problem of reading and not understanding what we read? Please show where I said it was bad! I said Obasanjo sold to people without capacity and this govt must not make the same errors.

Well your comment I quoted made it seem like Dangote is the only success in privatization. I have not read any provious post you may have made on the subject.

COMPAQ:
Well your comment I quoted made it seem like Dangote is the only success in privatization. I have not read any provious post you may have made on the subject. it actually doesnt say anything Obasanjo selling to people without capacity. maybe you d=said that in a prior post.

That’s why when you jump on a users post especially one where he quoted someone, follow the trail of the conversation before responding.

BTW, Dangote wasn’t technically a succes because his purchase was reversed, though it is safe to assume it would have been.

casualobserver:
That’s why when you jump on a users post especially one where he quoted someone, follow the trail of the conversation before responding.

BTW, Dangote wasn’t technically a succes because his purchase was reversed, though it is safe to assume it would have been.

Yes, I agree with you on following the trail. You make a valid point.

However, some of the firms you listed have more fundamental structural issues as to why they are not doing well.

The DISCOS can NEVER do well with the structure they operate in.
1. Tarrif regulated and not cost reflective
2. Massive electricity theft by citizens
3. Massive Debts owed by govt agencies

No matter the capital they bring, if you make losses constantly, the capital will be whittled down to zero!


Also Nigeria Airways was never privatized. It just died. I think same applied to Nigeria Mining and Coal corporation. They were not privatised, but died a natural death when we got hooked on easy oil money. What you are saying is more a case against government running business, not so much against privatization.

Good morning fg

Emnyte:
OBJ na igbo abi? Because I don't understand what you mean by ethnic superiority

The same people fought OBJ for Tinubu and some still hate him because he didn't play the ethnic card like Tinubu is playing for them, some even call him Igbo because of that, even one of their kings called him Igbo, the either prefer Tinubu or hate OBJ more than Tinubu even though OBJ did far more for Nigeria than Tinubu...

What are you then going to call all these?

This is long overdue, it is the way to go.

casualobserver:
Dangote was only 1. An exception to the rule does not nullify the rule. Over 400 govt companies were sold under Obasanjo. Even the BPE the agency that sold them later said only 10 are doing well. Most of them are moribund today after the purchasers stripped the assets and laid off workers.

Let me give you a list and you can tell me which ones are functioning and profitable, still employing Nigerians and which ones are moribund. Let me challenge you to list a privatized govt company that is working and for every one I will give you a list of 10.

Here are just a few of the 400

Iwopin paper mill
Nigeria airways.
Nitel
Iwopin paper mill
/federal-superphosphate-fertilizer-company-limited
/nigerian-newsprint-manufacturing-co-ltd/
Ajaokuta steel
Jos steel

Abuja Distribution Company;
Benin Distribution Company;
Eko Distribution Company;
Enugu Distribution Company;
Ibadan Distribution Company;
Yola Distribution Company (reversed due force majeure)
Ikeja Distribution Company;
Jos Distribution Company;
Kano Distribution Company;
Port Harcourt Distribution Company; and
Kaduna Distribution Company

Nigerian mining company
Nigerian coal corporation

But why did Yaradua cancelled out those you now agreed could have done well?

Tinibu and APC should apologize to Atiku and Obi. Obasanjo is baba of this country, Tinibu should call him to help him out. As for now APC lacks ideas.

Brendaniel:
The same people fought OBJ for Tinubu and some still hate him because he didn't play the ethnic card like Tinubu is playing for them, some even call him Igbo because of that, even one of their kings called him Igbo, the either prefer Tinubu or hate OBJ more than Tinubu even though OBJ did far more for Nigeria than Tinubu...

What are you then going to call all these?

"OBJ did more than Tinubu" you are comparing someone that ruled with military and came back to rule another 8 years with someone that barely spent 2 years in office haba now

Emnyte:
"OBJ did more than Tinubu" you are comparing someone that ruled with military and came back to rule another 8 years with someone that barely spent 2 years in office haba now

leave his military rule, go back and see what he met as president in 1999 and what he left as president in 1999 in terms of debt, foreign reserve GDP, ECA and purchasing power of Nigerians in general, yes his government was not perfect but You don't need Tinubu to spend 4 years or 8 years to know if he is in the right direction or not, same way some of you waited 8 years for Buhari claiming he needed more time till he destroyed the country more, while people like us were telling you guys that Buhari was destroying the country like we are telling you people about Tinubu, but of course like Buhari own it is falling on deaf earswith the same statement "give him more time"

do you people ever learn?

read this article, maybe it will help you..

https://www.nairaland.com/7802865/only-tinubu-supporters-saw-nigeria

Imo Airport or any other Airports built by the good people of the Eastern part if Nigeria by themselves through self help, should NEVER be pravitised by this immoral people in power! They are going to use a Convoluted privatisation narrative to unleash an ethnically charged privatisation bazaar that will end up handing these very important infastructures to their ethnic henchmen..

This was exactly the same way they privatised the whokl NEPA set up in the east, including power infastructures across hundreds of villages built and donated to NEPA by the people themselves. They will then use one Emeka Offor as a proxy, while they sit at Kaduna and Ibadan to earn revenues that should have gone to the federal government.

Nothing spectacular has come out of all these suspicious privatisation processes, except the ballooning pockets of the highly corrupt ruling class and their ruthless counterparts running the economy. If they are desperate to privatise, they should privatise "their airports" and not an airport like that at Owerri that was built from scratch by the people of Imo State or that at Anambra and Ebonyi, that were all built by the state governments.

COMPAQ:
Yes, I agree with you on following the trail. You make a valid point.

However, some of the firms you listed have more fundamental structural issues as to why they are not doing well.

The DISCOS can NEVER do well with the structure they operate in.
1. Tarrif regulated and not cost reflective
2. Massive electricity theft by citizens
3. Massive Debts owed by govt agencies

No matter the capital they bring, if you make losses constantly, the capital will be whittled down to zero!


Also Nigeria Airways was never privatized. It just died. I think same applied to Nigeria Mining and Coal corporation. They were not privatised, but died a natural death when we got hooked on easy oil money. What you are saying is more a case against government running business, not so much against privatization.

You are right on the discos in terms of operating environment but the purchasers lacked capacity anyway. You are also right on Nigeria airways but it’s facilities was sold to cronies at giveaway prices. Nigeria airways had a lot of valuable assets and yet their pensioners and severed staff were still owed till recently.

Nigerian mining and coal corporations were sold according to information on the BPP site. They are listed as completed transactions.

Edit: Nigerian mining corporation had 23 subsidiaries and the subsidiaries were sold piecemeal. At at 2017 18 had been sold and a news paper report lists the remains 5 as finally sold. The BPE website lists the Nigerian mining corporation and coal as completed transactions.

Apc govt of propaganda and lies, I taught they said the refinery is working , criminal gangs of lagos