Looking at almost 30years of selling our national assets and privatization, one will see a litany of lies, Cathedras of falsehood, labyrinths of trickery, monuments of treachery, systematic asset stripping and serial deception.
This infamous heritage has an equal infamous origin in the 1985 National Debate on the International Monetary Fund (IMF) Loan and its CONDITIONALITIES which included removed of subsidies, sale of national assets, floating of the currency and trade liberalization.
Nigerians overwhelmingly rejected this contraption. In December 13th 1985 Addressing the Nation, the then Head if State, General Ibrahim Badamosi Babangida said that"This is clearly the will of our people on the issue".
However, the regime proceeded to impose its own will by implementing the same IMF, Structural Adjustment Programme (SAP). It acknowledged which the people had rejected. It started by selling off the flour mills.
Then the distilleries, textile companies and the steel rolling mills in Osogbo, Katsina and Jos were sold with buyers closing them down for decades. Obviously, the motive for buying was asset stripping as was in the case of the media conglomerate, the 'Daily Times' group of newspapers which had choice property in London, Lagos Island and Mainland.
In these barefaced seizure of national assets, most of the phantom stories that their sales will lead to Foreign Direct Investment, injection of expertise, efficiency and national economic recovery, never materialized, nor was the Naira allowed" to find its level"?
Worse, is the fact that the funds realized from the sale of national assets from the IBB regime through the OBJ to the GEJ Administration, COULD NOT BE ACCOIUNTED FOR.
RPI...............Mission Rekindled.
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