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Tuesday, April 16, 2024


Fellow Nigerians, this is how ATIKU became the “acclaimed” businessman he is today. Please I do not have any partisan political agenda, but rather a factual report on ATIKU as a Presidential aspirant in Nigeria. Please any or all ATIKU supporters or his campaign structure are free to deny these submissions with facts not sentiments.

As Head of the National Council on Privatization (NCP), since 1999, @atiku dug Nigeria’s economic grave for today’s extreme poverty and unemployment. There were over 600 federal assets when @atiku’s NCP started selling. Atiku should tell us who bought what and what was left for the country when he left power.

Eleme Petrochemical
Daily Times
Ughelli Power
Egbin Power
NICON Insurance
Transcorp Hilton Hotel
NICON Luxury Hotel
Sunti Sugar Ltd
NetCom House
Bacita Sugar Ltd

In 2007, Onigbolo Cement operating at 500,000 tonnes per annum was sold to Dangote at N1.7Bn. To those selling Atiku, let me remind you of the @NGRSenate public hearing of August 2011 which succinctly captures how @atiku through the retinue of cohorts, fronts, and shell companies, ring-fenced over 70% of FG’s assets through a brazen daylight robbery privatization that he supervised.

This is nothing sensational. It’s real-life facts and all the Senators are alive today. The 2011 privatization Senate committee was made up of Senator Ahmed Lawan – Chairman, Senators Babafemi Ojudu, Philip Aduda, Mohammed Ndume, Ifeanyi Okowa, Hope Uzodinma and Mohammadu Magoro. Let’s look at the Aluminium Smelting Company, ALSCON, that Atiku privatized. ALSCON which Nigeria built with $3.2 billion, was sold to a Russian firm, Russal, for $ 130 million. As of the time of sale, ALSCON had received $ 120 million for the dredging of Imo River but was never done.

When the Senate Seating of August 2011 asked the Russian company the whereabouts of the $ 120 million dredging money, the company’s Deputy Managing Director, Vitaly Kuzrestov, said that the money has been used for Environment Impact Assessment.” EIA kill you there. FG’s Five per cent share in Eleme Petrochemical worth USD27 million was never presented to the National Council on Privatization before it was sold to Indorama. Indorama recovered this amount by selling Polyethylene and Urea to the entire west African sub-region in just 14 months.

The Atikulate Business Theory: Sell to yourself Government assets that leave millions in penury, to set up personal businesses that provide for a few. @Atiku didn’t employ the few hundreds he employed because he likes them, he needs them to work to preserve what he took from Government. Fam, the business acumen of Atiku you are bandying about is smelly. A man who supervised sales of over 145 federal investments as a vice president, without a thought for today wants to be president. He didn’t revitalize them. He didn’t resuscitate them. He sold them to whomever. May Nigeria succeed”

Mohammed Fawehinmi II


The opinions and views expressed in this write-up are entirely that of the Writer(s). They do not reflect the opinions and views of the Publisher (Nze Ikay’s Blog) or any of its employees. The designations employed in this publication and the presentation of materials herein do not imply the expression of any opinion whatsoever of the Publisher (Nze Ikay’s Blog) or its employees concerning the legal status of any country, its authority, area or territory or concerning the delimitation of its frontiers. Equally, the sketches, images, pictures and videos are gotten from the public domain.

Nigeria is an Enigma. The capacity to gain an accurate and deep understanding of her is undoubtedly God’s endowment to us, her citizens. As a citizen of this lovely nation, I’ve spent decades of my life trying to understand this, Mirage. Hope someday, this Mystery that houses about 250 million blacks will be globally understood, widely accepted, and given the opportunity to play its vital role in the world stage. So, help us God! #NigeriaDeservesBetter #AfricaDeservesBetter

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