Can you please help us sell GEJ to Otuoke market square

bugs1:
The National Council on Privatisation (NCP) on Thursday approved the sale of the liquidated Nigeria Telecommunication Plc. and its subsidiary, Mtel, to NATCOM Consortium for $252million.

The Chairman of NCP’s Technical Committee, Mr Atedo Peterside, told State House correspondents in Abuja that the approval was one of the decisions taken at a meeting of the council presided over by Vice-President Namadi Sambo.

According to Vice-President Namadi Sambo, the ratification of the sale by the NCP marks the end of the entire bidding process and what is now left is to conclude the necessary documentation.

He noted that the NITEL/Mtel transaction was different from what happened with sale of power plants because Nitel was not ongoing concern, but a liquidated one and no longer in business.

“In view of this, the liquidator will through the court pay some verified claims of creditors of NITEL/Mtel, which, therefore, sidesteps the issue of third party creditors.

“But it does not preclude the government from settling any obligations it feels like,“ he further explained.

Read Full Story
http://monitor9ja.com/2014/12/fg-approves-sale-nitelmtel-252m/

This is good

Firefire:
Good move to reposition Nigeria...

hyprocrite

Dabss:
I am not sure nitel is even worth $100million.

nitel has huge market potentials but resurrecting it will cost billions,I think this is the best option for it. I know many ppl will be surprised they eventually got a buyer for it. I think the buyers have their eyes on nitel licenses .

tonididdy:
hyprocrite

.


If I am hypocrite what is APC and U

A time will come when GEJ and his cohorts will give accounts of their loots. Buhari is watching in 3D

Is this man turning Nigeria into a capitalist economy?

bugs1:
The National Council on Privatisation (NCP) on Thursday approved the sale of the liquidated Nigeria Telecommunication Plc. and its subsidiary, Mtel, to NATCOM Consortium for $252million.

The Chairman of NCP’s Technical Committee, Mr Atedo Peterside, told State House correspondents in Abuja that the approval was one of the decisions taken at a meeting of the council presided over by Vice-President Namadi Sambo.

According to Vice-President Namadi Sambo, the ratification of the sale by the NCP marks the end of the entire bidding process and what is now left is to conclude the necessary documentation.

He noted that the NITEL/Mtel transaction was different from what happened with sale of power plants because Nitel was not ongoing concern, but a liquidated one and no longer in business.

“In view of this, the liquidator will through the court pay some verified claims of creditors of NITEL/Mtel, which, therefore, sidesteps the issue of third party creditors.

“But it does not preclude the government from settling any obligations it feels like,“ he further explained.

Read Full Story
http://monitor9ja.com/2014/12/fg-approves-sale-nitelmtel-252m/

How can a country sell its telcom backbone ? This Government is clueless

kestolove95:
gej knows his leavin next year so his selling evritin very soon he will sell aso-rock..dix man don tire mi nd my unborn children.

You will live and see GEJ voted again in 2015. Mind you he is the commander in chief. It's not easy to defeat incumbent Presido.....

kestolove95:
gej knows his leavin next year so his selling evritin very soon he will sell aso-rock..dix man don tire mi nd my unborn children.

is tym u face reality he is d next president. Cm 2015

Firefire:
.


If I am hypocrite what is APC and U

don't be carried away by the crumbs of the National cake u're currently enjoying.


Think bout the future of Nigeria(ns).


Adieous...do that which u know is right.

And who negotiated this.. Its too cheap !! At least 800m to a billion.

Oil refineries should also be sold.

I am sure some of these moribund government corporations were almost sold in the past but personal interests and labour generated controversies stalled them..

I wish they could contract NNPC to a foreign oil company like Mobil Unlimited.

Majority of Nigerian officials are just destroyers and value eroders..

I ll not vote jonah again. I am very dissapointed

princetigris:
Which way nigeria?

Are you the owner of Sambisa forest ?

Only nitel assets alone is more than $1 billion... who is fooling who in this country? SMH... and some Nigerians will support this here on nairaland? Am not against privatization of nitel but am against the price it was sold off!

100Cents:
Oil refineries should also be sold.

I am sure some of these moribund government corporations were almost sold in the past but personal interests and labour generated controversies stalled them..

I wish they could contract NNPC to a foreign oil company like Mobil Unlimited.

Majority of africans are just destroyers and value eroders..

we only know one thing.. CONSUME! No saving for rainy season Or caring about the unborn .. Its all about now!!..so short sighted!! Blacks have said times without number that they can do it.. And handle affairs. They have failed over and over again.. Until we structure our environment , education, culture, character in a way that will remove the negative attitudes that have evolved in us and plagued africa for centuries. And emancipated from mental slavery . We are not going anywhere!!!

SuperModerator:
Privatisation is the only thing PDP lead Government know how to do.

later, they will say GEJ performed than all our previous leaders... I will always ask who built those infrastructures he is privatising if not the previous leaders

he keeps selling what Nigeria spent years and money to build to his proxies

here is one of my previous posts;

try n thimk like an Economist for a sec.name one of the bigest telicom company in the world and who owns it.I got two names in the Uk. VIRGIN MEDIA .BT privatly owned even Royal Mail was sold

Nigerians sha! You do something, they complain, you do nothing, they complain, you try to do the two, they say stick to one!
My OP! Is that this will create jobs, and will also boost the economy of Nigeria, their rates can't be that expensive because we have other telecommunications, and this will bring competition to the the telecommunication sector, and will push others to cut down their price, and this will also help in our diversification from oil dependency because the money from the sales, if managed well will generate more revenue also, in US, do u know how many private telecommunication company exists there, so we need more, somebody said something about reviving it, My brother for how many years, even if you give it to a Nigerian, he will use small and eat the rest, and still give us cheap results, meaning we will still be on the same page but few pockets will be enriched!
And the truth be told, when last did any of us use a Nitel line
This is a welcome development!!!

God bless Nigeria!
God bless FG!

zionexcellence:
I ll not vote jonah again. I am very dissapointed

Why? All this organisations should have been privatised b4 now, but because of selfish interest of past leaders because of the allocations they collect on this, that's why we are here today!
So tell me why u r dissapointed and provide a SOLUTION to Nitel!

erico2k2:

try n thimk like an Economist for a sec.name one of the bigest telicom company in the world and who owns it.I got two names in the Uk. VIRGIN MEDIA .BT privatly owned even Royal Mail was sold

that is because government owned telecommunication companies don't go international.
the biggest telecommunication company in China is owned by the government.
you can't expect to see NITEL in Ghana, it is government owned

op pls inform me when MR president is going to sell nigeria

100Cents:
Oil refineries should also be sold.

I am sure some of these moribund government corporations were almost sold in the past but personal interests and labour generated controversies stalled them..

I wish they could contract NNPC to a foreign oil company like Mobil Unlimited.

Majority of Nigerian officials are just destroyers and value eroders..

if you don't know anything about economics, please keep shut.
it is not by force to comment

100Cents:


Are you the owner of Sambisa forest ?

I own few plots of land there

kestolove95:
gej knows his leavin next year so his selling evritin very soon he will sell aso-rock..dix man don tire mi nd my unborn children.

did you read the post?,NITEL is liquidated,why not sell it private individual who can rebuild the company.

I see ignorant people blaming GEJ for the liquidation of NITEL,NITEL has been liquadated since the time of obasanjo,since the introduction of MTN,GLo and rest into nigeria,obviously NITEL couldn't survive the competition from these private firms.
Why spending money into reforming NITEL when you can sell it to priviate individual who would develop the company,however creating JOB for more nigerians.
GEJ TILL 2019

kestolove95:
gej knows his leavin next year so his selling evritin very soon he will sell aso-rock..dix man don tire mi nd my unborn children.

Its quite unfortunate that this is the best way you can interpret this information, very third world and myopic view.

Dear All,

About two years ago, I commented about marginalization, parochial and narrow minded behavior of GEJ government toward the South West people.
Later last year, after the house of reps public hearing on Oduah scandal, I did brief analysis on the collective will of two regions in Nigeria to collectively ruin Nigeria through corruption and mis-governance as a way of getting back the wealth of the nation they claimed has eluded them for years. Yet, they need votes from the remaining four regions to win the presidential election. The Navy cannot prosecute any illegal bunkering activities being perpetrated by people from these regions. Later, the bunker will be released and the activity termed legal. They formed a network
covering judiciary to pro government activists carrying out pro - government rally. Pro - government rally attacking issues based rally with the support of law enforcement agency. Now, all major activists and labour groups are silent having known the direction of the present government.

For the first time in the history of Nigeria, Minister of Petroleum is shielded from any public and parliamentary interrogation. Stella Oduah, having been indicted by the house of reps in public hearing involving the Minister of Finance, Controller General of Customs and relevant agencies was prevented from appearing at the Senate three times. Mrs Bolaji Osomo, the Minister for Housing under Obj was unceremoniously removed from office by Obj for for FG houses sold to PDP members by complaints from some PDP members who lost in the deal, SHE APPEARED TWICE BEFORE THE SENATE COMMITTEE HEADED BY SENATOR IKECHUKWU OBIORA. Senator David Mark was still the senate president at this period. When she was removed, she wept openly for committing no crime.

Prof. (Mrs) Adenike Grange, the Minister of Health under Yar'adua was humiliated out office for giving 20 million naira to the health committee of both the Senate and House of Reps. Despite her immense contribution to the health sector locally and internationally, she was humiliated out of office, she wept openly.

Now, concerning privatization issue under discussion and an area I am well versed, Bola Onagoruwa, another female from South West was unceremoniously removed by Goodluck Ebele Jonathan as the DG of BPE for being indicted by Senate Committee over the sales of FG shares at Eleme Petrochemical company. As I said in my earlier protest immediately she was removed, she has no power whatsoever to sell or even advise FG on the issue. I said only Mr. Atedo Peterside (a financial expert) and chairman of the technical committee and the VP Namadi Sambo have such power and the level of connections and contacts require for such deal are far beyond Bola Onagoruwa. They only used the opportunity to remove a South West person and replace with person from another region for smooth corrupt operation. The same National Assembly through House of Reps indicted Aruma Otteh, the DG of SEC, but because she is not from South West GEJ retained her but still removed Harold Demurin over indictment by NA over Diana Plane crash.

Anybody travelling from South East and South South South to Lagos will observe that good roads stop at Ore (Ondo State) the entry point to South West.Whenever I travelled to the East or South South and I get to Ore on my way back to Lagos, I do cry bitterly internally. GEJ awarded the roads and tied the reconstruction to his second term in office and to loans by infrastructure bank ( Lagos - Ibadan) to be collected back through toll gates. Our (south West) roads are to be constructed when the oil price has fallen and little money available for capital projects. The spirit of South west will not allow Doyin Okupe, Reuben Abati, Musiliu Obanikoro, Mimiko and the rest of them to have peace. Even I may include Yinka Odumakin into the list.

Greater9ja:


How can a country sell its telcom backbone ? This Government is clueless

has NITEL been operational?.why not sell it.

SuperModerator:

if you don't know anything about economics, please keep shut.
it is not by force to comment

Yes sir, you know economics online..

We know what works..

Dear All,

About two years ago, I commented about marginalization, parochial and narrow minded behavior of GEJ government toward the South West people.
Later last year, after the house of reps public hearing on Oduah scandal, I did brief analysis on the collective will of two regions in Nigeria to collectively ruin Nigeria through corruption and mis-governance as a way of getting back the wealth of the nation they claimed has eluded them for years. Yet, they need votes from the remaining four regions to win the presidential election. The Navy cannot prosecute any illegal bunkering activities being perpetrated by people from these regions. Later, the bunker will be released and the activity termed legal. They formed a network
covering judiciary to pro government activists carrying out pro - government rally. Pro - government rally attacking issues based rally with the support of law enforcement agency. Now, all major activists and labour groups are silent having known the direction of the present government.

For the first time in the history of Nigeria, Minister of Petroleum is shielded from any public and parliamentary interrogation. Stella Oduah, having been indicted by the house of reps in public hearing involving the Minister of Finance, Controller General of Customs and relevant agencies was prevented from appearing at the Senate three times. Mrs Bolaji Osomo, the Minister for Housing under Obj was unceremoniously removed from office by Obj for for FG houses sold to PDP members by complaints from some PDP members who lost in the deal, SHE APPEARED TWICE BEFORE THE SENATE COMMITTEE HEADED BY SENATOR IKECHUKWU OBIORA. Senator David Mark was still the senate president at this period. When she was removed, she wept openly for committing no crime.

Prof. (Mrs) Adenike Grange, the Minister of Health under Yar'adua was humiliated out office for giving 20 million naira to the health committee of both the Senate and House of Reps. Despite her immense contribution to the health sector locally and internationally, she was humiliated out of office, she wept openly.

Now, concerning privatization issue under discussion and an area I am well versed, Bola Onagoruwa, another female from South West was unceremoniously removed by Goodluck Ebele Jonathan as the DG of BPE for being indicted by Senate Committee over the sales of FG shares at Eleme Petrochemical company. As I said in my earlier protest immediately she was removed, she has no power whatsoever to sell or even advise FG on the issue. I said only Mr. Atedo Peterside (a financial expert) and chairman of the technical committee and the VP Namadi Sambo have such power and the level of connections and contacts require for such deal are far beyond Bola Onagoruwa. They only used the opportunity to remove a South West person and replace with person from another region for smooth corrupt operation. The same National Assembly through House of Reps indicted Aruma Otteh, the DG of SEC, but because she is not from South West GEJ retained her but still removed Harold Demurin over indictment by NA over Diana Plane crash.

Anybody travelling from South East and South South South to Lagos will observe that good roads stop at Ore (Ondo State) the entry point to South West.Whenever I travelled to the East or South South and I get to Ore on my way back to Lagos, I do cry bitterly internally. GEJ awarded the roads and tied the reconstruction to his second term in office and to loans by infrastructure bank ( Lagos - Ibadan) to be collected back through toll gates. Our (south West) roads are to be constructed when the oil price has fallen and little money available for capital projects. The spirit of South west will not allow Doyin Okupe, Reuben Abati, Musiliu Obanikoro, Mimiko and the rest of them to have peace. Even I may include Yinka Odumakin into the list.

donmalcolm21:
I always derive joy when nigeria govt privatise all this elephant assets, it allows the govt to channel scarce resources into. Productive ventures and the money accrued from it will go a long way to cushion the effect of crude oil slide. "This man Gej dey do work wey I take my korkoro eye see" Gej till 2019

Had it been u were among the over 60% of Nigerian population living below a dollar per day, am very sure u shouldn't b uttering this arrant nonsence.... U better wake up and face the reality... people are clamouring for change, can't just wait to see next year valentine's day when your own political mentor will b sent packing.......BUHARI/OSIBANJO 2015