{"id":64938,"date":"2019-02-21T05:21:56","date_gmt":"2019-02-21T04:21:56","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=64938"},"modified":"2019-02-21T05:21:56","modified_gmt":"2019-02-21T04:21:56","slug":"atiku-nnpc-has-failed-insists-on-privatization","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/atiku-nnpc-has-failed-insists-on-privatization\/","title":{"rendered":"Atiku NNPC Has Failed, Insists On privatization"},"content":{"rendered":"
\n
<\/div>\n<\/div>\n
\n
Atiku Abubakar, the presidential candidate of the Peoples Democratic Party<\/div>\n
\n
on Wednesday in Kaduna reiterated his plan to privatise the Nigerian
\nNational Petroleum Corporation (NNPC), if elected president on February
\n23.<\/p>\n

Mr Abubakar spoke at a town hall meeting with ward, local government and
\nstate party leaders in the state at the Kaduna Trade Fair Complex.<\/p>\n

He said that the NNPC had failed to serve the purpose for which it was
\nestablished in 1977.<\/p>\n

According to him, selling-off the corporation and all the three refineries
\nis the best option for the country, likening it to the sale of Nigerian
\nTelecommunication Limited (NITEL).<\/p>\n

Mr Abubakar said Nigeria is among the biggest producers of crude, but
\nlamented that the country still imports refined products for local
\nconsumption at exorbitant prices to the detriment of the common man.<\/p>\n

He said if elected president, he would deregulate the NNPC and sell it to
\nNigerians. the way Mr Obasanjo sold NITEL.<\/p>\n

However, he did not mention that the sale of NITEL was disastrously done
\nby the administration, of which he was a part and chairman of the Bureau
\nof Public Enterprises, which handled the sale.<\/p>\n

Under Mr Obasanjo, NITEL went through several botched sales and management
\nturnaround contracts. First, 51 per cent of the shares were sold to a
\ngroup of investors under the trading name of Investors International
\nLondon limited.<\/p>\n

The sale was cancelled after the investors failed to pay. Then in 2003,
\nthe government approved a management turnaround contract with a firm
\ncalled Pentascope. The contract was cancelled in 2005 after it became
\nclear Pentascope did not have the adequate resources to run NITEL. In
\n2005, the government again offered NITEL to Orascom. This failed again,
\nleading the government to sell it to a subsidiary of Transcorp in 2007.
\nThe sale was revoked in 2009. In 2014, the firm was sold to NATCOM, a
\ngroup of investors led by Tunde Ayeni. Mr Ayeni since then has been
\nrunning it as NTEL.<\/p>\n

Mr Abubakar, also former vice president, urged the people of Kaduna State
\nto massively vote for the PDP, promising to allocate 40 per cent
\nappointments to the youth to address the rising unemployment and
\nrestiveness.<\/p>\n

He said that his government if elected, would make education a priority by
\nproviding scholarships to all deserving youth and women in the country.<\/p>\n

Mr Abubakar also promised to allocate 30 per cent of appointments to
\nwomen, adding that, he would provide adequate funds through the Small and
\nMedium Enterprise Agency to empower women and the youth.<\/p>\n

He said that his leadership would address what he described as alarming
\ninsecurity, with killings of innocent Nigerians across all the
\ngeopolitical regions.<\/p>\n

Mr Abubakar appealed to the electorate to vote the PDP into political
\noffices in the state for the betterment of the people.<\/p>\n

He said he would allocate more resources to the states and local
\ngovernment areas for faster development across the country.<\/p>\n

The National Chairman of the PDP, Uche Secondus, and Speaker of the House
\nof Representatives, Yakubu Dogara, urged the Kaduna State party leaders to
\nwork tirelessly to ensure the success of the party at the Feb 23 and March
\n9 general elections.<\/p>\n

The governorship candidate of the party, Isah Ashiru, said the party would
\nbring development at all levels to the state if voted into power.<\/p>\n

Mr Ashiru said his administration would reduce poverty to the minimum and
\ncreate employment opportunities for the youth and women as well as persons
\nwith disabilities.<\/p>\n

Mr Ashiru appealed to the people come out en masse and vote for the party
\nand ensure their votes count.<\/p>\n

He urged the youth to avoid violence during and after the polls.<\/p>\n

The chairman of the party in the state, Felix Hyat, spoke in the same vein.<\/p>\n

The News Agency of Nigeria (NAN) reports that another former vice
\npresident, Namadi Sambo; former national chairman of the party, Ahmed
\nMakarfi; former governors Ramalan Yero of Kaduna and Ibrahim Shema of
\nKatsina were among top party leaders that attended the event.
\n(NAN)<\/p>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

Atiku Abubakar, the presidential candidate of the Peoples Democratic Party on Wednesday in Kaduna reiterated his plan to privatise the Nigerian National Petroleum Corporation (NNPC), if elected president on February…<\/p>\n","protected":false},"author":1,"featured_media":4002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-64938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nAtiku NNPC Has Failed, Insists On privatization - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/atiku-nnpc-has-failed-insists-on-privatization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atiku NNPC Has Failed, Insists On privatization - 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