Atiku Vows To Sell 90% Of NNPC If Elected President

As the 2019 general elections draw nearer, the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, has vowed to sell the Nigerian National Petroleum Corporation (NNPC) if elected president.

Punch reports that Atiku vowed to sell the NNPC and retain just 10 percent of the company for the federal government.

Legit.ng gathers that the PDP presidential candidate said the NNPC was supposed to have become more profitable by now.

On whether he would sell NNPC and keep 10 percent shares for the government, the former vice president said: “Yes, I would want to go ahead. There is no doubt about that. The government should have a very minor shareholding. Nigeria is in dire need of funds to develop its infrastructure and other sectors of the economy.”

According to him, Nigeria ought to have been producing far more than two million barrels of oil per day. 

Atiku added: “Without a stable regulatory framework, the oil and gas companies will find it difficult to invest more in Nigeria.

“At the time, we pushed for the passage of the new law. We expected that Nigeria would be able to export up to four million barrels per day, but here we are, still at less than two million barrels per day.”

Meanwhile, Legit.ng previously reported that Nigeria’s former vice president and the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, said he was willing to let Nigeria’s oil-producing states have 100 percent control of crude oil revenues from their domains.

He, however, added that he is reluctant to immediately implement such policies at this stage of Nigeria’s development.

The PDP presidential candidate told The Africa Report in an interview published Wednesday, November 14, that federating units once had considerable control of their resources, unlike the current federal laws that only allow 13% derivation for states in the Niger-Delta, where Nigeria’s crude oil is extracted.

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Source: Legit.ng