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Is proposed sale of national assets solution to economic recovery?

Nigerian News Update » Nigerian Newspapers
Vanguard Newspaper
I do not support the sale of national assets, except they are privatised and sold on the floor of the Nigerian Stock Exchange, NSE.  Who are the people that are going to buy these enterprises if they are sold? It is the same people who are putting them for sale that will eventually buy them through proxies and cronies. Another question is, at what price are they going to buy them?

Is it going to be an open or close bid? Why it is that government cannot revive these enterprises. Those money that has been recovered from looters can be use to revive these entities; why can’t government channel the money to these enterprises?

Selling these enterprises is just like milking the entire citizens. If these enterprises are sold, what will be left for the next generation?

What legacy will the government leave for the prospective governments? In fact, I am against the sale of national assets; the transparency required for the sale of such enterprises as done in developed nations is lacking.

Mr. Godwin Anono, Chairman, Standard Shareholders of Nigeria & Pastor Mrs. Ngozi Erem, an independent shareholder
The sale of national assets will go to few wealthy individuals as you will see one person with connection submitting several bids. Government can use the recovered looted funds to revive these enterprises rather than selling them out rightly.

Mr. Boniface Okezie, Chairman, Progressive Shareholders Assocition of Nigeria, PSAN

Government in Nigeria is not a good manager of business. Instead of selling these national assets out rightly it should be privatised and sold on the floor of the Nigerian Stock Exchange , NSE to all Nigerians, while certain percentage can be sold to technocrats either foreign or local investors.

If government should sell these enterprises out rightly, then it will fall into the hands of the few rich people and cronies of government officials. If you look at the past ones that was sold it was not given to technocrats but to wealthy people in the society.

All these assets sold to private individuals has gone down the drain. Let these be sold on the floor of the NSE in a transparent manner; it is not acceptable if these assets are sold to the few individuals.

Let the enterprise be privatised , while government holds some portion of ownership, some portion goes to technical partners and the rest portion goes to the general public. Later on the government can divest its own ownership when the enterprise reaches certain level of growth.

Mrs Kalu Christie Odiba, an independent shareholder and retired headmistress

As a Nigerian shareholder I do not support the sale of national assets. This is because the process of selling these enterprises would not be transparent like taking them to the Stock Exchange. Again the previous assets sold by government did not bear any good fruits.   Besides, the national assets are one of the things that keep us together as a nation. What have they done with the previous ones sold? Look at Nigerian Airways that was sold, where it is today?

In the first place, record had shown that national assets are sold to people who do not have the expertise but to money-bags. In some cases, it was sold to the agents of government officials and cronies.

I am suggesting that government should rather revive those assets, using the recovered looted money to put them in order. In this way, employment would be created and the struggle for poverty reduction would be achieved. The more government sell these assets, the more the rich would be getting richer, while the poor getting poorer.

Pastor Mrs. Ngozi Erem, an independent shareholder

I do not subscribe to the sale of national assets; this is because the individuals that will buy them do not pay the appropriate value.   Even with the past ones sold, the people who bought them were not able to manage them.

The problem with government enterprise is that of adequate control.

I once worked with Nigeria Railway Corporation, and today the entity is nothing to write home about because it lacked adequate control and management. If government sells these assets do you think it will be properly managed?

So, it is my opinion that government should look for professionals to manage these assets rather than selling them to few rich people at the expense of the entire citizens.

National asset is a pride for the nation, so government should try its best to revive those assets as this will help to provide employment for the teeming youths. Government can revive those assets with the recovered money from the corrupt politicians so that all Nigerians and the nation would benefit in the long run.
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