*THE ECONOMIC DANGERS OF SELLING THE NNPC AS PROPOSED BY ALHAJI ATIKU ABUBAKAR*

Nigerians in November of 2018 were greeted with an economic proposal perceived to be innocuous by most quarters of the country, by the former Vice president Atiku Abubakar aka Waziri of Privatization scams.

I did a research on the direction of that economic policy what turned out was a disaster, recall this publication

I’ll sell 90% of NNPC if elected, Atiku vows, https://punchng.com/ill-sell-90-of-nnpc-if-elected-atiku-vows/

In the publication above, Atiku proposed to sell 90% of all the NNPC holdings in his future privatization moves, never mind that 56 government establishments collapsed under his privatization scams of the past. Buhari in his mercy has taken up the responsibility of paying the pensions of Atiku's privatization victims read here;

https://www.proshareng.com/news/Pensions/Pension:-FG-begins-payment-of-N17bn-to-NITEL-workers/6735

Can Nigeria survive under a sold NNPC regimen? tough question!!

why does other oil dependent economies maintain a national oil company? in Africa; Nigeria has NNPC, Angola has Sanagol, Algeria has Sonatrach, Egypt has EGPC, Libya has NOC etc.

In the Middle east; Saudi Arabia owns Saudi Aramco, Qatar owns QP, Bahrain owns BAPCO, iraq owns INOC, Syria owns the Al furat, Iran owns NIOC and so on.

In Europe: Russia has Rosneft, Norway has Satoil etc, you can see clearly that every oil dependent economy in Africa, Asia, Europe, middle east maintain an oil company.
Why is it so? A national oil company is the country's stake in its oil riches which translates to the oil wealth of the people.

What does the NNPC do for the Nigerian economy?
In a layman's term, NNPC pays for anything you use that is not produced in Nigeria, in other words, NNPC is your window to the global market.

Let us use your American imported car for example.
You wish to buy a car from the United States, the Japanese manufacturer in the US insisted you must pay in usd for the transaction, unfortunately your local bank account holds the Naira so how did you get the car eventually?
Your bank debits your naira, then pays the dollar equivalent to the US company. smart huh!!

Have you wondered where your bank or your Aboki got the USD to facilitate that transaction? my research took me to a CBN activity called Retail Dutch Auction System (RDAS) and Wholesale Dutch Auction System (WDAS), these are avenues your bank, BDC (Aboki) and every other licensed forex trader gets his supply from.

Out of curiosity, I decided to dig further where the CBN gets her forex from, the answer wasn't surprising, the NNPC!! through the following common sense processes.
Direct oil Sales (NNPC) (70%)
Petroleum Profit Tax (Oil Companies) (20%)
Royalties (5%)
Penalty for Gas Flaring (5%)
could this be the reason why every oil dependent economy has a national oil company? Is Atiku planning to steal 70% of Nigeria's oil wealth like he stole all the Niger delta sea ports for 25yrs?

We most times follow these politicians around without paying attention to the underlying message of doom they are coming with, Atiku and OBJ orchestrated the most fraudulent privatization heist in the history of this country, read here

https://www.nairaland.com/4839445/atikus-source-wealth-revealed-mohammed/1

Unfortunately, most young people that form today's voting block do not know what OBJ & Atiku represent in Nigeria's politics.
some people ignorantly argue that since NNPC is a cesspit of corruption therefore it has to be sold, my only response is, even as the cesspit of corruption, it still provides 70% of CBN's forex, if sold, where do we get those forex from? What Business is Nigeria doing today that will provide that insane amount of forex for the utilization of over 180m Nigerians? Am i supposed to borrow cars and shoes from Atiku and his friends?

In case you have forgotten so soon how Nigerians landed in poverty due to forex shortages, high cost of living, that was just a tip of what could happen when NNPC sold oil at a lower price, imagine what will happen when NNPC seize to exist.

Like everything Atiku privatized, either ended up in his pocket (Niger delta oil and gas free zones) or died out rightly (Nitel, Alscon, Delta steel, News week etc).

For Nigerians in the mid stream sector of the oil and gas industry (oil servicing companies) warming up to vote Atiku, your case is worse, 60% of your contracts are paid for by the NNPC through a process called cash calls, if NNPC is sold, has Atiku told you who will pay the cash calls? this segment of Nigerians will be the first victim of that demonic proposal, we will be watching their protest at the NNPC headquarters like we watched ex Nitel staffs in protest back in the days.

sound familiar right? https://www.uniglobalunion.org/news/nigeria-nitel-dismissed-78-workers-unions-protest-sack-order

what about the ALSCON workers huh!! sounds familiar? https://www.premiumtimesng.com/business/128089-alscon-workers-host-communities-protest-rusals-sack-of-475-nigerians.html

God will be fair to Atiku because this time he sounded the doom Trumpet of his dejavu if Nigerians ignorantly gives him the mandate to forge ahead.

With this plan, the next round of hunger will not be friendly, after voting Atiku, do not complain he promised change but brought chains, already, I can see your chain under an Atiku leadership, good luck as you do your future proud by resisting this scam in the waiting!!

We need a reformed NNPC as proposed by Ibe Kachikwu already endorsed by the US
http://nnpcgroup.com/PublicRelations/NNPCinthenews/tabid/92/articleType/ArticleView/articleId/576/US-Endorses-Ongoing-NNPC-Reforms.aspx

We need to sustain this NNPC reform that ended the perennial yuletide petrol scarcity in Nigeria, we need to sustain the policy that ended hoarding of petroleum products in Nigeria, we need to sustain this reform that ended the theft of over 400,000bbls of crude oil daily, that's what we need, selling NNPC is evil to say the least.

The only beneficiaries of this proposal are Atiku and his friends like peter obi that has the financial war-chest to buy NNPC's assets in bits and pieces, strip the assets, sell them off, become billionaire & walk away.

The big question every Nigerian going to the polls on Saturday must ask himself is; Can you live without the NNPC? by extension, can you live without your cars, smart phones, computers, foreign clothes, deodorant, building materials, books, drugs, cosmetics anything in this country that is not made in Nigeria? if your answer is NO , vote any other candidate that is not Atiku.

Forget this propaganda, it will not help you

Wackiest write up ever

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Behold die minute epistle of a zombie

Op you have made a very good points. But some pigs(above) will never understand because they have allowed sentiment to cover their sense of reasoning..
By the grace of God, Atiku will never win this election.
4+4=next level.

We should avoid an Atiku presidency of prosperity and creation of jobs and embrace Buhari that has caused untold hardship on the masses, that has divided us so much along ethnic lines, and bestowed us with insecurity and terrorism!


Op you don't have conscience! You must be a very wicked person.



God forbid!