Former President Olusegun Obasanjo on Monday expressed regret for not privatising the Nigerian National Petroleum Corporation (NNPC) while in office.
Obasanjo, who spoke in Lagos, advised the Federal Government to allow the organised private sector play a critical role in repositioning the nation’s moribund assets and infrastructure.
According to Obasanjo, past experience in Nigeria has shown that the private sector when given the opportunity can contribute meaningfully to the growth and development of the nation on a sustainable basis.
He said that he regretted not privatising the NNPC, noting that the organised private sector had repositioned the nation’s telecommunications industry by creating jobs and paying money to the government on a sustainable basis.
He said: “NNPC is supposed to be doing well like Nigeria Liquefied Natural Gas (NLNG). The involvement of the private sector will ensure growth.”
At the opening of a two-day Maritime Stakeholders’ Conference, Obasanjo said the role of the private sector in reviving strategic national assets could not be overemphasised.
Obasanjo likened the NNPC to the NLNG.
“The NLNG is making money for the government because of the involvement of the private sector,” he said.
Source: Nigeria Online News