x

NNPC Nigeria’s biggest problem, Should be Privatised – El-Rufai

Governor Nasir El-Rufai of Kaduna State on Thursday said the Federal Government has failed in the oil and gas business and should get out of the sector.

The governor spoke on Channels Television’s Sunrise Daily on the occasion of the seventh edition of KadInvest, an annual event organised by the Kaduna State Investment Promotion Agency.

Speaking on the theme of this year’s KadInvest, ‘Building a Resilient Economy’, El-Rufai said whatever the government manages turns out bad and noted that the sectors doing well in the country like entertainment, telecoms, fintech and others have no government involvement.

He said nothing has changed with the commercialisation of the Nigerian National Petroleum Company in July 2022, adding that NNPC is Nigeria’s biggest problem and should be privatised.

The All Progressives Congress governor said though the Group Chief Executive Officer of NNPC Limited, Mele Kyari is trying his best, the company has failed and has no business being in the sector.

He cited an example of the Nigerian Telecommunications Limited which achieved nothing until the private sector came in and revolutionalised the telecoms business.

“I am giving this example so that when I say government should get out of oil and gas, people should not think it is crazy; it is not. There is no reason why the Nigerian Government should still be in the oil and gas sector. It should just get out, it has failed. By every measure it has failed.

“This year, NNPC has not brought N20,000 to the federation account. We are living on taxes. It is PPTs, royalties, income tax and VAT that is keeping this country going because NNPC claims that subsidy has taken all the oil revenues. I don’t believe it,” El-Rufai noted.

Power Sector Privatisation

The governor further argued that the Federal Government should get out of the power sector and privatise it for the country to overcome the hydra-headed and decades-long challenges of the sector.

“So, the government should sell everything in oil and gas sector…The government should get out of everything that is left of electricity, leave it to the private sector, create the environment, the money will come. We did it in the telecoms sector,” he said.

Asked about the commercialisation of the NNPC, he said, “Nothing has changed, it’s just a change in name with limited at the end.

“Nothing has changed, they are still taking our money, declaring profit that we don’t see the dividends.”

Hot this week

Kogi Assembly Swears In New Lawmaker, Hon. Hassan Shado Musa

By Noah Ocheni, LokojaThe Kogi State House of Assembly...

A’ibom shrine crisis; NGO seeks truce, appeals for discretion

By Ogenyi Ogenyi,UyoA Non Governmental Organisation, Open Forum for...

UIO Urges FG to Enforce Safety Standards in Inland Waterways Transportation

By Noah Ocheni, LokojaThe Ukomu Igala Organisation (UIO) has...

IHR Commends Tinubu for Hajj Fare Reduction, Urges N1,000/$1 Concessionary Rate

By Jabiru HassanThe Independent Hajj Reporters (IHR) has commended...

China, Nigeria Deepen Cultural Ties as 2025 Women’s Film Festival Opens in Abuja

The opening ceremony of the 2025 China Women’s Film...

Langtang North Residents Applaud Council Chairman Tyem for One Year of Developmental Achievements

By Israel Adamu, JosResidents of Langtang North Local Government...

JUST IN: ISWAP Launches Deadly Attack on Military Base in Borno, Soldiers Feared Killed

Several soldiers are feared dead while others sustained injuries...

Today’s football match fixtures

Here’s a clean, reader-friendly rewrite of today’s global football...

Japan Plunges into Political Turmoil as Ruling Coalition Collapses

Japan was thrown into political uncertainty on Friday after...

Kogi Court Sentences 28-Year-Old Husseini Mustapha to Life Imprisonment for Rape

By Noah Ocheni, LokojaThe Kogi State High Court sitting...

Related Articles

Popular Categories

spot_imgspot_img