National Asssets

Pentecostal Fellowship of Nigeria, PFN, has said that the Federal Government’s move to sell national asset in order to be able to meet the current economic situation is a greedy and selfish act.

Speaking during the solemn assembly in commemoration of Nigeria’s 56th independence anniversary, was Dr Lawrence Ekwok, Chairman of PFN who said that the last privatization and commercialization exercise carried out by the Federal government was only favorable to the “powerful” but the masses did not benefit from it.

In his words: “The Ajaokuta Steel Company was built then at a cost of $3.3 billion but sold at a paltry sum of $250 million and as if that was not bad enough, only $130 million of the $250 million was paid and nothing has been heard of the balance.”

He said that out of a total of 100 companies owned by Nigerians and sold during that era, only a paltry N301 billion was realised and out of that amount N36.1 billion was spent on transaction costs by those who handled the sale.

“Nigerians must today reject and resist vehemently this planned daylight robbery called proposed sale of national assets. It is not only a wicked and selfish call but also evil and devilish”.