Moghalu Backs Atiku On Privatizing NNPC

Moghalu during an interview on Channels Television programme, Business Morning said privatizing the NNPC will make it a more profitable organisation.

The political economist said he wonders why a presidential candidate will say that he will sell 90% of the NNPC and added that public organisations should not be a tool for political agenda

“The NNPC needs to be partially privatised between 41% to 51% whether private sector or government. This will turn the NNPC to a much more transparent organisation that is run consistently profitably.

“Today, the NNPC is just an impress account for the Nigerian politicians. This is because it is completely state-owned. One presidential candidate has said that he will sell 90% of the NNPC. I disagree with this. The question is, who are you going to sell 90% of the asset to?

“In privatising the NNPC partially, we should make sure that the oil producing communities have 10% ownership stake and we will sell those shares on Nigerian Stock Exchange in a carefully and transparently managed process.”