Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC - Politics (2)

Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC (35436 Views)

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Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by HHANDM: 2:24pm On Sep 23, 2016

Some individuals are seriously scheming to make a 'kill' out of this recession quagmire at the detriment of Nigerians.

I hope the gov't/people won't be left holding the short end of the stick after selling some of these assets.

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Alexchuka(m): 2:24pm On Sep 23, 2016

They have finished us oooo

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by IYANGBALI: 2:24pm On Sep 23, 2016

My own be sey make him sell biafra to ipob if dem go buy am

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Montaque(m): 2:24pm On Sep 23, 2016

A part of me says government has no business doing business; however I am mindful to remind myself that the sale of NEPA didn't serve us any useful purpose as a country.

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by ephi123(f): 2:31pm On Sep 23, 2016

BeeBeeOoh:
The chairman of the Dangote group, Alhaji Aliko Dangote is one of the voices in support of the selling of some of the national assets to tackle the recession, especially Nigerian Liquefied Natural Gas (NLNG).

He said: “The only way for us to get out of this recession is to make sure we move into action quickly; by diversifying the economy quickly.

“If I had challenges in my company, I would not hesitate to sell assets to remain afloat, to get to the better times. It doesn’t make any sense for me to keep any assets and then suffocate the whole organisation.

Dangote is only looking out for his own interests. GREEDY man. All the wealth he has is still not enough. Money does not satisfy truly.

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by MayhorE(m): 2:31pm On Sep 23, 2016

when wont him sell himself at last, i just pray that God should come to our aid and deliver us from this green snakes under green grass

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by wink2015(m): 2:34pm On Sep 23, 2016

So selling of our national asset is now the new song in town. So that the likes of Dangote, Saraki, Tinubu, Igbenedion, Ibori, Uduaghan etc will come and buy it with the people's money.

It is only politicians and their cronies who have our commonwealth in their strong room that can afford to buy those asset.

Note: Any selling of our national assets that excludes the true owner of that resources will be doom to failure.

At a time Nigeria is talking about true federalism and authonomy for the regions the like of Saraki is talking about selling of our national assets.

If Buhari is foolish to fall into this gabbage bin. Goodluck to him.

The north want to sell what they did not contribute to. The money they use to acquire those national assets come from oil from the Niger delta region.

So the federal government must first of all settle with the good people of the Niger delta before thinking of selling their assets.

I see trouble brewing in the corner. Buhari should becareful!

1 Like

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by smart024(m): 2:35pm On Sep 23, 2016

The NATIONAL ASSEMBLY is rather a TOXIC ASSET that should be sold...

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Reference(m): 2:37pm On Sep 23, 2016

They should all be sold off completely to allow the government focus on governance. Governmemt has no business in business. Its meddlesomeness is keeping the right players out. Since Obasanjo nationalised the oil sector. What has been our benefit as a nation beyond a legacy of corruption involving government officials for decades. How can we bring the competition to grow and prosper the sector. Which player will want to compete in a game the referee has partisan interests in. How can government grow its taxation 'muscles and brains' when taxes are not its primary source of income like any developed country and economy does. How can we ever free ourselves from the shackles of rent seeking when we earn from what we don't work for.

In my personal opinion they are serious liabilities not assets. The only way to get this economy diversified is to build a solid corporate base that will build a flourishing middle class that will exploit the creative potentials of Nigerians to the maximum. You can imagine the sheer number of Nigerian multi-varied engineering professionals that have become an integral part of the power sector since the government let it go. You can imagine the depth of understanding of the challenges of the power sector compared with the ignorant silence from that industry in the hey days of government control.

People speak as if government loses control of the country when it privatises. Does it not retain sovereign power to reverse these if they go wrong. Does it preclude it from reinvesting in the future if it falls for the allure of 'cheap black money'. It can build all sorts of caveats into the process, it can make it transparent like glass, it can demand any price it deems fit, it can protect itself anyway it likes but the principle is of great necessity if we are to change the narrative aboit our economy and get out of the quagmire we find ourselves. It is not just about raising money, but raising potentials and chaging mindsets. We behave like a monk who has dedicated himself to a fat and hides a bun under his tunic. There is no benefit whatsoever.

2 Likes

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Rajosh(m): 2:38pm On Sep 23, 2016

Dangote wants to buy the assets that's why he is in support. he will just monopolize everything. Dangote just buy Nigeria

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nobody: 2:44pm On Sep 23, 2016

People suggesting selling of our assets at this time are probably all agents of our white neo-imperialists enemies:

Saraki - secret ally of Thief Obasanjo

Dangote - ally of Thief Obasanjo

Sanusi - a man who presided as CBN Governor at time of greatest looting and did little to stop or check it.

1 Like

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by smart024(m): 2:47pm On Sep 23, 2016

Reference:
They should all be sold off completely to allow the government focus on governance. Governmemt has no business in business. Its meddlesomeness is keeping the right players out. Since Obasanjo nationalised the oil sector. What has been our benefit as a nation beyond a legacy of corruption involving government officials for decades. How can we bring the competition to grow and prosper the sector. Which player will want to compete in a game the referee has partisan interests in. How can government grow its taxation 'muscles and brains' when taxes are not its primary source of income like any developed country and economy does. How can we ever free ourselves from the shackles of rent seeking when we earn from what we don't work for.

In my personal opinion they are serious liabilities not assets. The only way to get this economy diversified is to build a solid corporate base that will build a flourishing middle class that will exploit the creative potentials of Nigerians to the maximum. You can imagine the sheer number of Nigerian multi-varied engineering professionals that have become an integral part of the power sector since the government let it go. You can imagine the depth of understanding of the challenges of the power sector compared with the ignorant silence from that industry in the hey days of government control.

People speak as if government loses control of the country when it privatises. Does it not retain sovereign power to reverse these if they go wrong. Does it preclude it from reinvesting in the future if it falls for the allure of 'cheap black money'. It can build all sorts of caveats into the process, it can make it transparent like glass, it can demand any price it deems fit, it can protect itself anyway it likes but the principle is of great necessity if we are to change the narrative aboit our economy and get out of the quagmire we find ourselves. It is not just about raising money, but raising potentials and chaging mindsets. We behave like a monk who has dedicated himself to a fat and hides a bun under his tunic. There is no benefit whatsoever.

And you expect the government to run only on taxes...?

1 Like

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by obua: 2:47pm On Sep 23, 2016

GenBuhari:
I suspect Dangote is enemy of Nigeria. All the assets handed to him virtually for free by a known enemy of Nigeria and puppet of the white man, Thief Obasanjo, suggests Dangote is likely a front for the white man to strip Nigeria and indeed Africa, of assets and wealth.

What has Dangote done with all the wealth handed to him to benefit Nigeria?

Instead he is allegedly investing in other countries (could this be a way of repatriating profits to his white masters?)

Name 1 asset handed over to him. The Oshogbo steel and Benue cement were bidded for

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Orikinla(m): 2:49pm On Sep 23, 2016

Alhaji Aliko DANGOTE is targeting the Nigeria LNG Limited and refineries.
As usual, he wants his own mega refinery not to have any competition. grin

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by thunder74(m): 2:51pm On Sep 23, 2016*

If GEJ or PDP had sold NLNG, PMB will not see money to give out as bailout to the States when he assumed power.
I smell an agenda. Check the regions of all the people supporting the sale and people that are against the sale. You will understand my deep understanding.

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by deenee: 2:56pm On Sep 23, 2016

NLNG can stay but the moribund refineries and corruption ridden NNPC has to go.

The refineries have never worked at full capacity since inception. Besides the technology used for refining crude is out dated when compared to the latest up to date technology that is obtainable now. The national refineries were constructed in the late 70s and there hasn't been any major overhaul only turn around maintenance and even the TAM is just an avenue to embezzle public funds. I am told that the Dangote refinery can produce about 12-15 by products from refined crude all of which are useful for plastic making industries, fertilizer plants etc. This cannot be done with the old state refineries.

Dangote's refinery will surely be a game changer in the O and G sector.

The level of rot in the NNPC is one of the major reasons why there is so much decadence in that sector. I need not say much about NNPC because even my five year old niece knows that NNPC is the conduit pipe for most of the corruption and fraud cases in Nigeria.

I will even propose a 10 percent divestment from NLNG to reduce our stake to 39percent( even with this we will still have the largest shareholding) with an option to buy back from the strategic investor in say 10-15 years.

In addition to this let's concession the roads airports, railways because we really need to shore up our foreign reserves if any investor will take us seriously.

On a lighter note I will suggest that we also put some states up for sale because quite frankly a lot of these states are dead weight and not adding any value at all.

God bless Nigeria!

1 Like

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nobody: 2:59pm On Sep 23, 2016

Cutehector:

If Buhari sells the NLNG to Dangote then Nigeria is in big soup

Dangote wey dey busy dey build his refinery.

Where will he get $15bn more than his Networth ?

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Reference(m): 3:00pm On Sep 23, 2016

Montaque:
A part of me says government has no business doing business; however I am mindful to remind myself that the sale of NEPA didn't serve us any useful purpose as a country.

The privatisation of the power sector has more than served its purpose. The problems bedevelling it are as clear as crystal compared to say 5 years ago. There is complete transparency and accountability across the board. And as they often say a problem understood is half solved. The only factor outstanding in my opinion is to bridge the mammoth funding gap. This will take some time to navigate but is not helped by the government and its attitude towards the energy sector and its general handling of the economy. If power in the short term is to be solved then the government will have to rethink its participation in the gas sector as well. It is only government that can be so daft to flood the power pool with assets requiring constant gas supply without a plan for gas supply. These are the kinds of thinkers and methodmen the citizens want to continue in the business of providing social infrastructure. Can it happen to a private man, no.

Will Shell buy a gas turbine and instal it with no idea of where and how to get gas and how to transmit the power to consumers. Will you, yes you build a factory with no idea of how to get raw materials to make stuff and no means of getting the stuff to market simply because your wife had a brainwave of an idea. Even Dangote, the lightning rod for the asset debacle is building a refinery and by extension a power station near where the raw materials are and where the market is. What is a gas power plant doing in Kogi state. Does Kogi state have gas. Why isn't Dangote building his refinery in Kano, his home state. This is why government the world over is worst placed in taking business decisions and should not be taking them and should relinquish any means by which it is taking them right now.

2 Likes

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nobody: 3:01pm On Sep 23, 2016

Were the bidding process fair and transparent? Of course not - nothing done by thief Obasanjo is ever fair or transparent

obua:
Name 1 asset handed over to him. The Oshogbo steel and Benue cement were bidded for

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nobody: 3:01pm On Sep 23, 2016

dunkem21:
Just sell everything sellable

Yes oooo. Motion supported. As if Nigeria is not already sold by the FEW and for the FEW grin

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Reference(m): 3:07pm On Sep 23, 2016

smart024:
And you expect the government to run only on taxes...?

Yes. The government should right size itself on taxes. It will clear their heads and make public office less attractive to bandits. They don't care for you because they don't need your input. You don't pay them so you mean nothing to them. And the sad part of it is that you are proud of it and vehemently defend this sad anamoly. True prosperity starts with responsibility. Life Issues 101. I will declare Buhari the best President in the history of Nigeria if this is the only thing he can do. A total reform of the DNA of this country.

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Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by HAH: 3:08pm On Sep 23, 2016

ogb5:
If you are in financial difficulties, you don't sell assets that are viable and helping you to stay afloat. LNG and NNPC are the cash cows today.

Dangote is simply looking for a way to have his paws on our wealth.

Are the refineries viable ? If this refinaries are not sold believe me they will die the way Nitel died when GSM came especially with rich men venturing into crude oil refining.

The refineries that cannot even sustain themselves, they will work for 3 months in a years doing 10% of it capacity then stop for turn around maintenance for 9 months using billions of naira, only to repeat the same circle next year, mind you while this turnaround maintenance are done the staff are paid regular heavy salaries, the question now is if this is your business is it wise to sustain?

2 Likes

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Masculity(m): 3:11pm On Sep 23, 2016

Jokerman:
Chai!!! ... u better change ur name to Allahlovesyou...
So you want FG to sell Nnpc, lng etc... Hope u are not confused sir....

Is there any problem doing that? I mean economically.

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by debbyzzy(m): 3:13pm On Sep 23, 2016

Truth is government has no business running these businesses. They can never optimize it to run efficiently like private hands would do. Nepotism, corruption etc would continue to be the order of the day, especially in a country like Nigeria.

2 Likes

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Oche4short: 3:18pm On Sep 23, 2016

Those calling for the sales are interested in those assets. Oga pm by, no mind you them. Just reshuffle your minister and go for experienced and more knowledgeable and exposed nigeria and recession will be a thing of the past. Thank you

BeeBeeOoh:
https://www.naij.com/979465-recession-3-national-assets-buhari-must-not-sell-or-nigeria-will-perish.html

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by yakbauer: 3:20pm On Sep 23, 2016

NNPC and NLNG I don't support, but refineries I fully support, coz the refineries have been running on negative since only God knows when.
It's a pity a lot of ppl on this forum will b biased but in my opinion the refineries will b a liability immediately Dangote's refinery becomes fully operational, it's capacity will be 650,000bpd while the combined capacity of all the govt owned refineries at optimum production is 450,000bpd. I said optimum, which has not been since the 90s.
And Buhari thought he would be able to do that, which was even one of his campaign highlights "to fix the refineries" but obviously it's not achievable coz the corruption at civil service level cannot be eradicated instantly
The refineries are obsolete, their parts will have to be fabricated coz most cannot be found in the mkt. Trust Nigerians, give that contract to NNPC and watch ppl become billionaires overnight.
Just in case most of us do not know the refineries do not generate enough to even pay staff, they have to get support from NPDC, this is just to pay staff oh.
Those scared of their jobs shouldn't be, they'll all be reassigned to other SBUs , most of the casual staff have already been relieved. But if the refineries are sold with an efficient regulator supervising their activities, there will b more jobs, mostly casual though, the refineries will b run better, since it'll b strictly for profit, the more they sell the more tax the govt gets, and cost of renovation is totally in the hands of the buyers.
On the other hand NLNG has been working quite well, profits and logistics on point, although not perfect, but I can confidently say it's the best model we've had,(i stand to be corrected) because the govt is not in total control.
NNPC however shouldn't be sold because of their stakes in other SBUs, the govt needs a single unit that commercially deals in JV contracts, oil and gas exploration etc.
But like I usually say, this is just my take on this Sha.

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Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by 1stdammy: 3:20pm On Sep 23, 2016

Izonpikin:
definitely the house won't let him...this is why democracy is good...

He can't carry out that act on his own...

The house indeed.......SMH

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Oche4short: 3:22pm On Sep 23, 2016

Those calling for the sales are interested in those assets. Oga pm by, no mind them. Just reshuffle your ministers and go for experienced and more knowledgeable and exposed nigeria and recession will be a thing of the past. Thank you

BeeBeeOoh:
https://www.naij.com/979465-recession-3-national-assets-buhari-must-not-sell-or-nigeria-will-perish.html

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Izonpikin: 3:24pm On Sep 23, 2016

1stdammy:
The house indeed.......SMH

they wont..militants go worry worry that decision..abi the FG forget say stake holders full the country??... undecided

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by yakbauer: 3:25pm On Sep 23, 2016

Thank you for an unbiased/objective view, unfortunately most ppl lack that here

Reference:
The privatisation of the power sector has more than served its purpose. The problems bedevelling it are as clear as crystal compared to say 5 years ago. There is complete transparency and accountability across the board. And as they often say a problem understood is half solved. The only factor outstanding in my opinion is to bridge the mammoth funding gap. This will take some time to navigate but is not helped by the government and its attitude towards the energy sector and its general handling of the economy. If power in the short term is to be solved then the government will have to rethink its participation in the gas sector as well. It is only government that can be so daft to flood the power pool with assets requiring constant gas supply without a plan for gas supply. These are the kinds of thinkers and methodmen the citizens want to continue in the business of providing social infrastructure. Can it happen to a private man, no.

Will Shell buy a gas turbine and instal it with no idea of where and how to get gas and how to transmit the power to consumers. Will you, yes you build a factory with no idea of how to get raw materials to make stuff and no means of getting the stuff to market simply because your wife had a brainwave of an idea. Even Dangote, the lightning rod for the asset debacle is building a refinery and by extension a power station near where the raw materials are and where the market is. What is a gas power plant doing in Kogi state. Does Kogi state have gas. Why isn't Dangote building his refinery in Kano, his home state. This is why government the world over is worst placed in taking business decisions and should not be taking them and should relinquish any means by which it is taking them right now.

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Reference(m): 3:27pm On Sep 23, 2016

debbyzzy:
Truth is government has no business running these businesses. They can never optimize it to run efficiently like private hands would do. Nepotism, corruption etc would continue to be the order of the day, especially in a country like Nigeria.

That is not even the really bad part. The bad part is after 50 years of being a top ten oil and gas producer all we have to show for the billions of barrels out of the ground is 4 decaying refineries and half a gas plant. If not that the petrochemicals and fertilizers were tossed a while ago they will be rusted hulks by now. People scream, 'but is it not government mismanagement' then they bend over and take it up the rear yet again, defending the same folks violating them over and over and over and over, regime to regime to regime. What is wrong with Nigerians....haba.

1 Like

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