{"id":437747,"date":"2011-06-07T23:00:14","date_gmt":"2011-06-07T23:00:14","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/07\/fg%e2%80%99s-privatization-programme-is-a-failed-project-%e2%80%93-abu\/"},"modified":"2011-06-07T23:00:14","modified_gmt":"2011-06-07T23:00:14","slug":"fgs-privatization-programme-is-a-failed-project-abu","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/07\/fgs-privatization-programme-is-a-failed-project-abu\/","title":{"rendered":"FG\u2019s Privatization programme is a failed project \u2013 Abu"},"content":{"rendered":"
\n

BY PETER DURU<\/p>\n

A consultant to the defunct National Economic Intelligence Council, NEIC and former member of the National Working Committee of the ruling PDP and, Dr James Abu has taken a swipe at the privatization programme of the Federal Government describing it as a failed project.<\/p>\n

Abu urged President Goodluck Jonathan to take a closer look at the entire process with a view to reviewing it to enable the exercise become beneficial to the Nigerians.<\/p>\n

Speaking to newsmen in Makurdi, the university don lamented that the process of privatization embarked upon by the previous administrations was skewed from the beginning of its implementation hence failed to meet the expectations of Nigerians especially as it relates to the revival of the sold companies.<\/p>\n

The former Managing Director of Nigeria Paper Mill, Jebba, regretted that most of the privatised companies like the fertilizer blending plants, Car Assembly Plants, Paper Mills, Steel Rolling Mills and Textile companies have closed shop, leaving millions of Nigerians unemployed all because those who acquired them were not committed to revitalizing the organisations.<\/p>\n

He said, \u201cIt is sad that these organizations were privatized but those who bought them failed to revitalize them for optimum performance as expected at the time of sale\u201d.<\/p>\n

\u201cWhat we have littering across the nation are companies built with state funds but sold out to phony business men who have left the business enterprises worst than they met them\u201d, he added<\/p>\n

\u201cWe thank God that our refineries have not been sold off to these business men because we would have been weeping today, all they would have done was to cripple the refineries while they continue to import petroleum products and ask Nigerians to pay international price for such products\u201d.<\/p>\n

\u201cThat explains why several years after licenses have been issued to them to establish private refineries across the country, none has shown commitment to doing so, it is sad\u201d, he added.<\/p>\n

Abu argued that the objectives for which previous administrations embarked on the privatisation of government-owned firms have not yielded the desired results because the process was lacking in transparency and due process.<\/p>\n

He called on President Goodluck Jonathan to ensure that the Federal Government retrieve the moribund companies sold to private owners who had failed to revive them and appoint new managements to revive such companies to grow the economy and create employment opportunities for Nigerians who have been badly hit by the collapse of such firms.<\/p>\n

\u201cThe Federal Government should take over all the privatised companies that have remained moribund after the fruitless sales and set up managements to run them.\u201d<\/p>\n<\/div>\n

Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n

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BY PETER DURU A consultant to the defunct National Economic Intelligence Council, NEIC and former member of the National Working Committee of the ruling PDP and, Dr James Abu has taken a swipe at the privatization programme of the Federal Government describing it as a failed project. Abu urged President Goodluck Jonathan to take a closer look at the entire process with a view to reviewing it to enable the exercise become beneficial to the Nigerians. <\/p>\n","protected":false},"author":0,"featured_media":437748,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-437747","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"yoast_head":"\nFG\u2019s Privatization programme is a failed project \u2013 Abu - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/06\/07\/fgs-privatization-programme-is-a-failed-project-abu\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FG\u2019s Privatization programme is a failed project \u2013 Abu - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"BY PETER DURU A consultant to the defunct National Economic Intelligence Council, NEIC and former member of the National Working Committee of the ruling PDP and, Dr James Abu has taken a swipe at the privatization programme of the Federal Government describing it as a failed project. 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