The Chief Executive Officer of Financial Derivatives, Bismarck Rewane, 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.
Concise News reports that the Atiku policy document, released on Monday, highlights that the PDP presidential candidate is seeking partial privatisation of the NNPC, regarded as Nigeria’s cash cow.
Reacting to the specific idea of privatising the NNPC, the financial analyst, 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.
His words: “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,” he added.