17/06/2022
ATIKU ABUBAKAR!
In 1999 Atiku Abubakar was nominated by the then president, Chief Olusegun Obasanjo as chairman, National Council of Privatization. The government had decided to sell various state-owned assets to private companies to raise bonds, and also in exchange for equities in certain international brands. What followed next was the worst privatization sales in human history.
Multi-billion dollar public investments were sold at derisory prices to his and Obasanjo’s cronies. 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 NCP began auctioning sales. To name but a few:
NEPA
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
To those marketing Atiku, let me remind you of the senate public hearing of August, 2011 which succinctly captured how Atiku through a retinue of of cohorts, fronts, shell companies, ring fenced over 70% of Federal government's assets through brazen daylight robbery he supervised in the name of privatization.
In 2007, Onigbolo Cement operating at 500,000 tonnes per annum was sold to Dangote at N1.7BnIn 2007, Onigbolo Cement operating at 500,000 tonnes per annum was sold to Dangote at N1.7Bn
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.
ALSCON had been given $120million for the dredging of the Imo River, but this was never carried out. Russal and Atiku disappeared with the money.
The igbos are complaining about the dredging of the River Niger, but only few remember that the ALSCON deal was supposed to dredge the Imo river, which is easier and more economically viable than the Niger river because it flows
