₦airaland Forum

coolcharm:
Very dumb question. We all know that asset sales and and privatisation goes through rounds of bidding. We saw this in the early 2000s with the telecommunications industry.

The North is jittery that NNPC, the goose that lays their golden egg is about to be set free.

They have sat on the Niger Delta fossil using NNPC as a cover to milk the entire country for over 50 years.

In Law, there is a saying that you cannot be a judge in your own case. Government should be a regulator and allow the private sector to do business...

Ask yourself this question, since the FG has been running NNPC, why has it been difficult to get just one refinery working?

Nah, they prefer to export crude oil and import refined products... For their gains.

Only corrupt individuals benefiting from corruption in the oil sector will kick against the sales of that liability called NNPC

Besides Dangote and Tinubu won't like the idea

Afamed:
I have over 15 years in business management. You can not dish out a program or promise or policies. Without dishing out, how and when do you want to implement those policies.
Atiku policies can only appeal to the thieves and his cronies. That was the main reasons the Prof ask those important business questions. Tell us how does Atiku want to sell the NNPC and who does he want to sell NNPC to. Is it going to be the same similar direction, Nitel was sold ?

You are right bro.

Atiku and Dubious character are like 5&6.

To know the face of a Super Duper, type Atiku to 419, the image will appear android device only.

He should sell it to whosoever he wants to sell it to buh let his administration b better than Buhari's

ehhmah:


... but the presidential candidates need to debate.


Buhari will be like

Special delivery. . .

If you have interest n money to buy. Come forward

May God bless me enough to be able to buy up these assets. Nigeria knows absolutely nothing on management of assets. All they know is how to make these assets as a conduit to loot and loot

seunmsg:
There is already a plan to unbundle NNPC through the petroleum industry governance bill. What Atiku is proposing is not unbundling but an outright sale of NNPC as presently structured under six months of his presidency. And guess why Bismarck Rilwane asked Atiku who he intend to sell the corporation to? Because NNPC can only be sold in six months if a buyer is already on ground. Simply put, Atiku has a waiting buyer who we all know is a front. Atiku will sell NNPC to himself under six months of his presidency. Every Nigerian will remain a slave to him forever if we allow him get away with his roguish plan.

Your head dey very correct

Afamed:
Privatisation is the way to go but not when it's done by Atiku and PDP. They have the history of short changing Nigerians. The NEPA that was privatised by GEJ. What's the result today? The Nitel that was sold by Atiku, what's the result today. Atiku and PDP have the history of rubbing Nigerians.

Atiku and PDP privatised National Oil. Atiku and PDP privatised NAHCO. Every Nigerian willing to invest back then are smiling today, so what is your problem?

ZombiePUNISHER:
Rubbish... You said the same thing on NITEL
Look at the telecomms sector today..
Here you are typing poo on a platform made possible by PDP foresight ...

Privatisation is the way to go...
It will go through series of biddings by prospective buyers ... It will be a transparent process...

The time for real change is now...
Not some mofo who doubles as President and a petroleum minister with nothing to show... Just constant borrowing...

Nigerians, who told you it was the privatization of NITEL that brought about the existence of private telecom companies?

greyham:
What is the point selling a corporation as sensitive as the NNPC? Why can't Nigerians make it work as a government owned institution for their country?

Give Nigeria Government Apple and Amazon, it will run down in a year.

odiks:
Bismarck Rewane, the chief executive of Financial Derivative, says Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP), must tell Nigerians, who he is planning to sell the Nigerian National Petroleum Corporation (NNPC) to.

The Atiku policy document, released on Monday, highlights that the presidential candidate is seeking partial privatisation of the NNPC, regarded as Nigeria’s cash cow.

Reacting to the specific idea of privatising the NNPC, Rewane said the idea is a noble one, but Atiku must tell Nigerians who he plans to sell to, else he may plunge the country into chronic capitalism.

“I agree that he (Atiku) should privatise, but selling to who?” Rewane said in his response to a question by Channels TV business editor, Boason Omofaye.

“You must not just say you are going to sell, you must tell us how, and to who?

“If you are going to have a voucher system like they have in India, where everybody in the public will have a voucher, then you can sell it.

“It becomes rather than government owned, it becomes Nigerian privately-owned, and part of it you want to internationalise like what Saudi Arabia is doing.

“But you see, it is a noble idea, but it stops short of the specifics, tell us who and who, and how you are going to ensure that it is not sold to your own cronies.

“One of the big risks of privatisation is the Russian model, where you have chronic capitalism. If you have businessmen, who are in government like Donald Trump, you want to make sure that both the government and the people are protected from conflicts of interest.”

ON THE NEXT LEVEL

Rewane said he likes the fact that the Buhari administration wants to take Nigeria to the next level, and that policy documents are out more than 100 days before elections.

The Associate of the Institute of Bankers, England and Wales, also said he likes what the president is saying about his plans, but the presidential candidates need to debate.

He said the biggest problem he sees in the next level document is that it has not come out to say ‘we would sell those refineries’, remove subsidies, so we have a free market economy.

He added that there is nothing wrong with having a billionaire or a poor man in the office of the president, that what Nigeria needs is a leader with a vision, leaders who can deal with structural rigidity.

He said neither the Atiku nor the Muhammadu Buhari programme speaks on how to increase Nigeria’s labour productivity, considering the population growth.

The financial analyst, with over 40 years experience, said Buhari, Atiku have shown us “the what” they will do, but not “the how” they would do it.

He said both teams must deal with labour productivity, inflation, current recessionary gap, unemployment, and Nigeria’s excruciating debt service burden.


https://www.thecable.ng/rewane-atiku-must-tell-us-who-hes-planning-to-sell-nnpc-to

And you expect him to say it.....when he is still campaigning......sometimes I just wonder how some people reason

Afamed:
Address the issues at hand and stop your usual bla bla bla. Typical of Atikulooting zombie, when you confront them with facts and figures, they result to insult. Simple question, Who does Atiku want to sell the NNPC to?

You are the one been foolish,if Atiku were to name a particular entity won't your likes still accuse him of not been transparent?,all over the world such sales are conducted by public auction you should rather be requesting for a clean auction process but the truth is you people are only hidding your opposition to privatisation under the guise of asking this nonsense question because you have been feeding fat on the inefficiency of NNPC,Atiku is brilliantly trying to avoid the faith of nitel as a result of GSM which NNPC is likely to suffer if critical steps are not taken before dangote refinery comes into action,I challenge you buhari n all your likes to square up with Atiku in a debate n let's see the outcome,I just hope your dullard will not chicken out as already Amaechy claims they will have to review the situation n advice him to participate or not.

Campusity:
If you truly had over 15 years in business management you would have known that the BPE laws requires that the sale of a national asset be advertised and the highest bidder wins. It's silly of you and Rewane to ask Atiku to tell you who he would sell it to like we are in one kingdom without Due Process. Do you think Nigerians are not wiser.

Part sale of national oil companies is not new. Petrobras of Brazil was partly sold to the public, BP of UK was partly sold. Saudi Arabia with all its money wants to sell part of Aramco its equivalent of NNPC. The advantages of sale of NNPC is that it will cease to be the piggy bank of the government in power, decision taking will be faster and it will be more transparent and hence can grow remit more revenue and create more jobs. A bigger NNPC can dominate the west African and African market. The sales process just needs us, Nigerians, to be vigilant and demand the highest standard of transparency in the sale.

Due process and BPE in Nigeria?? This man are you normal??.

maryjames9:
Give Nigeria Government Apple and Amazon, it will run down in a year.

A day.

Immediately the deal is announced, shares will drop to zero.

Magalan:
He would list it in the stock exchange with 50% decision making policy by FG

E be like say nah you help Atiku draft the policy document on NNPC privatization. Atiku list what on the SE? Never. It's not in his nature. He won't share the sale of NNPC with anyone but himself alone. He is greedy, wasteful(flew everyone to Dubai for a meeting), adeptly corrupt and an expert national thief. He is ready to buy up everything with money. Now he tells us he is an orphan (No traceable ancestry). Unfortunately PMB and his fulani team are dumb and clueless. You got an economy on the verge of recession and what did you do? Started gallivanting around the world, delayed cabinet formation and by implication budget implementation. Agreed there was a mess already on ground but he made it messier. You cannot project your business outcomes properly anymore. Within his present cabinet, there is no known economic experts proferring advanced solutions and techniques to solve the economic quagmire. The problem on ground will take at least 10yrs to resolve. No government no matter how smart can do it even in 8yrs. The previous government looting was just too much. Should any looting no matter how little continue then expect further deeper recession and hardships. People like Atiku and Saraki with track records of looting, corruption and stealing should never be given the slightest chance near the nation's coffer. Corruption is worse than war and worse than any epidemic. Corruption should never be encouraged in any developing society except you want to collapse as a country. Moghalu said, "it's time Nigerians start voting intellectually". Atiku and Saraki can never be part of any National solution. They are just a gang of thieves.

Afamed:
Privatisation is the way to go but not when it's done by Atiku and PDP. They have the history of short changing Nigerians. The NEPA that was privatised by GEJ. What's the result today? The Nitel that was sold by Atiku, what's the result today. Atiku and PDP have the history of rubbing Nigerians.

And your bubu has the history of wrecking Nigeria into recession. zombie

baliyubla:
The strange looking Bismarck knows Privatization is the only way to go in the present day Nigeria, but he just wants to stir up emotions of Zombies by asking silly questions.

The Nigerian state have shown itself to be incapable of managing its assets, so why not privitize the likes of NNPC, The National Theatre, Abuja National Stadium and so much more.

Privatise national assets by selling them to cronies who can't run them?

That was exactly what happen in the case of the electricity utility NEPA it was dismantled and sold to political cronies who thought they would just start taking in money without investing in infrastructure!

One possibility is that mentioned by Rewane.

Use a ticketing system and allow Nigerians buy shares. They can be identified by bvn. International investors should be brought in as managers and given a reasonable stake. Government could maintain a minority position.

Egypt recently concluded a canal expansion project that cost $5 billion and all the money was raised at home.

People have pointed out the privatization of petrobras and the sending privatization of Saudi Aramco as models. I also agree that if we fail to do something quick, NNPC may be rendered obsolete like NITEL. Dangotes entire motive for building a refinery is to capitalize on NNPC inefficiency.

Liquidation is alright in principle, but the question is how do we trust PDP to not loot the funds ? How can we be sure that NNPC will not be transferred to private hands and become a bigger problem like phcn currently is ? And what becomes of Niger Delta interests ?

Atiku has opened a fierce debate

coolcharm:
Very dumb question. We all know that asset sales and and privatisation goes through rounds of bidding. We saw this in the early 2000s with the telecommunications industry....

Like atuku did between 1999 and 2007 , right? How exposed were you at this period?

coolcharm:
Very dumb question. We all know that asset sales and and privatisation goes through rounds of bidding. We saw this in the early 2000s with the telecommunications industry....

Like atuku did between 1999 and 2007 , right? How exposed were you at this period?

What a dumb question. Atiku never said he will sell NNPC, rather he opted for partial privatization of the corporation which is a way forward. Some people are just enemies of this country like Rewane. @GNWA

Have listened to this man as an expert I must say he's good at what he is doing.

Magalan:
-Nitel was outrightly sold.... and you could list over 20 telecoms coys created after its sales.

-Nigerian airways was a conduit pipe for corruption.. are you aware one of the chief lootee of Nigeria Airways is serving an appointment in this admin?

So you are saying it was the sale of Nitel that led to the creation of all other Telecom companies, and it was the sale of Nigerian Airways that birthed other commercial airlines.
Common, is that what you teach your younger ones?

Obsession with oil that many holding political positions have is a reason why we won’t go anywhere. Leave oil alone. Many other sectors will thrive if privatized i.e steel, other extractives. Who will buy NNPC? NNPC is a government body that is sustained by royalties and profits from JVs. How many FPSOs does NNPC solely have? Can you compare NNPC to Saudi Aramco or ADNOC? This policy is trash to me. Make NNPC competitive before privatization.

Magalan:
-Nitel was outrightly sold.... and you could list over 20 telecoms coys created after its sales.

-Nigerian airways was a conduit pipe for corruption.. are you aware one of the chief lootee of Nigeria Airways is serving an appointment in this admin?

the time for telecommunication had come when Nitel was sold. It was the dawn of mobile communication. The sale was not the reason you had likes of MTN come into Nigeria, it was the time for telecommunication to move from landlines to mobile phones. Was Nitel running any mobile communication technology before its sale?

NNPC's privatization is long overdue notwithstanding people's concerns about what this will entail in practice under a corrupt man like Atiku.

To me, the concerns embody a somewhat false choice - that a sale of NNPC will enable the corrupt take over NNPC. It's false because NNPC is already a cash cow for the corrupt. If a president Atiku wants to embezzle from NNPC, he could more easily do so leaving it as it is. Privatization doesn't significantly change the status quo in terms of corruption.

It could enable the government generate a one-off cash influx from the sale which will enable us pay down debt as well as ushering in a more efficient and competitive private-sector led petroleum industry.

Whoelse? To Atiku of course.

coolcharm:
Very dumb question. We all know that asset sales and and privatisation goes through rounds of bidding. We saw this in the early 2000s with the telecommunications industry.

The North is jittery that NNPC, the goose that lays their golden egg is about to be set free.

They have sat on the Niger Delta fossil using NNPC as a cover to milk the entire country for over 50 years.

In Law, there is a saying that you cannot be a judge in your own case. Government should be a regulator and allow the private sector to do business...

Ask yourself this question, since the FG has been running NNPC, why has it been difficult to get just one refinery working?

Nah, they prefer to export crude oil and import refined products... For their gains.

Only corrupt individuals benefiting from corruption in the oil sector will kick against the sales of that liability called NNPC

So Bismarck is from the north? That is why he is jittery, abi?
In your mind it is Atiku from the south-south that will set NNPC free from the dominance of the north?
There is nothing articulate about the brain and reasoning of all of you people atikulating upanddown the social media spaces.

Open ur mouth, make i give u small sense...

I have never seen a corporation like NNPC across the world. They incorporated an entity that is controlled by government of the nation.

This has eroded it's corporate governance and created conflict of interest in the corporation's policy and decision making process.

Have you ever seen NNPC audited financial statement; it is supposed to be a public document at least, published on daily newspapers but I have never seen it. NNPC's transactions are often corrupted, secret and in the interest of selected few but the general public.

NNPC is the cash cow and slush fund provider of the federal government and some cronies involved in crude oil exchange for petroleum products deals etc

It is sick and counter productive to continue to run NNPC the way it is established by the act and managed by the government. It has so much room for pervertion and corruption. It is too big and cumbersome to run as an entity.

Unbundle it into several independent largely-privatised companies or corporations that must be PLC (listed on NSE) to allow general public own it's equity.

However, if I am Atiku, I will not let the cat out of the bag on NNPC till I get into office as the President of the Federal Republic of Nigeria. He just repeated the mistake of MKO Abiola on his statements about his intention to compel the compensation of Africa for slave trade.

d spirit of workers who died during Atiku's tenure as Chairman of Privatization council when our national assets were sold off to cronies in deals that reeked of infamy without settling workers' benefits will continue to haunt & make Atiku to expose his corrupt intentions for this country. Atiku's tenure stripped Nigeria of priceless assets forever & left many dead careers & lives in its wake.
d spirit of workers who died & d families of workers who lost their jobs & lives in Atiku's privatization scam will ensure that Atiku weeps in 2019.
BTW, where ar d proceeds frm previous privatization?