To those who don’t know how the current hardship and poverty in Nigeria started, take your time and read this. Then investigate the owners of the companies that robbed the country of her assets, those are the devils you were warned about
Read;
HOW OBASANJO, ATIKU MADE NIGERIANS JOBLESS.
A. NigerDock is the largest ship fabrication yard in West Africa sub region. When it was sold, its Ex-MD Engr. Nkpubre Okon, openly stated how “Mr Job Creator” ignored the Transport Ministry then to Open bid for NigerDock.
Atiku’s preferred bidder, ‘Global Energy’ that agreed to increase NigerDock’s workforce from 4,800 to 6,000 as part of privatization agreement dismissed 2,200 immediately it took ownership. Jagal Group that took over after Global Energy lost out on power play also sacked 1,400.
B. Nigeria Port Authority reform was purely contrived to grab landed properties. 10,000 workers were sacked & 133 bids opened for NPA properties consisting of 68 properties in Apapa, 28 houses in Ikoyi. The highest reserves bid was for a property in Ikoyi fixed at N390.4 Million.
C. NIGERIA RAILWAY
Did Atiku forget how 7000 railway workers were sacked in 2005 without compensation to reduce its workforce to 6,300? Another 1,260 were fired in 2006. When ATIKU and his Headmaster were leaving in 2007, they left ~N5 Billion in unpaid Railway pension arrears.
D. FEDERAL SECRETARIAT IKOYI
In 2006, Babalakin’s Resort Ltd acquired this 15 storeys prime asset overgrown with weeds from atiku and OBJ through a Development Lease Agreement (DLA) for N7.2Billion. A Court has asked Buhari to pay N54 Billion to Babalakin for that blunder.
The DLA, dated October 10, 2006, granted Babalakin Resort Ltd a 99-years lease to redevelop the Federal Secretariat complex, that OBJ & ATIKU had abandoned for 7 years into 480 luxury apartments. This was at the eve of their departure from government. The transaction was one for the road.
The DLA hit the rocks when Lagos State Govt in the interest of the public indicated willingness in acquiring the Federal Secretariat complex. LASG insisted it should be accorded right of first refusal since LASG is the Issuing Authority of the C of O, coupled with other reasons.
Lets not forget Atiku was in charge of the economy and OBJ gave him free hand until Galaxy Backbone scandal happened.
In 2002, first 3yrs of the Obasanjo/Atiku, manufacturing accounts for 6% of GDP. Nigeria’s GDP fell by half for d first time in 20yrs. This was d year all textile factories in Nigeria closed down and unemployment was 28% within the formal sector alone; I repeat, alone!!
In 2002, UN estimated that 70% of Nigerians live below poverty line compared to 48.5% in 1998 under a military rule. Life expectancy fell from 54yrs to 51yrs. Two-fifth of every child below age 5 were malnourished and only 50% of the 128Million Nigerians have access to clean water.
copied:-
FACTUAL REPORT ON HOW ATIKU SUPERVISED THE SALES OF OVER 145 FG INVESTMENTS AS A VICE PRESIDENT !!!
Please any or all ATIKU supporters or his campaign structure are free to deny these submission with facts not sentiments.
“As Head of National Council on Privatization (NCP), from 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.
To who did Atiku sell the following companies:
Nafcon
Eleme Petrochemical
Daily Times
Ughelli Power
Egbin Power
NICON Insurance
ALSCON
Transcorp Hilton Hotel
NICON Luxury Hotel
Sunti Sugar Ltd
NetCom House
Bacita Sugar Ltd
MM2
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 Senate public hearing of August, 2011 which succinctly captures how Atiku through retinue of cohorts, fronts, shell companies, ring fenced over 70% of FG’s assets through a brazen daylight robbery privatization that he supervised.
This is nothing sensational. Its 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.
Lets look at Aluminium Smelting Company, ALSCON, that Atiku privatized.
ALSCON which Nigeria built with $3.2 billion, was sold to a Russian firm, Russal, for $130million. As of the time of sale, ALSCON had received $120million for the dredging of Imo River, but was never done.
When the Senate Sitting of August, 2011 asked the Russian company the whereabouts of the $120million dredging money, the company’s Deputy Managing Director, Vitaly Kuzrestov, said that the money has been used for Environment Impact Assessment.”
FG’s Five percent share in Eleme Petrochemical worth USD27 million was never presented at the National Council on Privatization before it was sold to Indorama.
Indorama recovered this amount selling Polyethylene and Urea to the entire west Africa sub-region in just 14 months.
The Atikulate Business Theory: Sell to yourself Government assets that leaves millions in penury, to set up personal businesses that provides 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
A man who supervised sales of over 145 federal investments as a vice president, without a thought for today wants to be president.
He didnt revitalize them.
He didnt resuscitate them.
He sold them to whomever agrees to his personal terms
THOSE WHO STOLE YOUR 2015–2030 IN 1999–2007 ARE THE SAME THIEVES YOU ARE NOW ROMANCING TO COME BACK!!!
For how long will you allow a few to steal your future and your children’s future and be giving you crumbs. Look at 1999–2007 everything we grew up to know were sold to themselves or the scrap sold for cash.
Nigeria Airways and their houses in GRA Ikeja, what happened to them? When we were growing up most of the houses in GRA Ikeja were owned by the Nigeria Airways and all now sold to whom?
Nigeria RE. The biggest re insurance company in Africa who bought it?
NICON Insurance who bought it ?
NITEL was sold for peanuts and killed by them so that their investment in AiRTEL, MTN,GLO etc will yield dividends
NITEL House one of the tallest in Marina was sold cheap to former Speaker Bankole.
What is the Status of National Stadium Surulere? Millions was budgeted for refurbishment by the sports ministry and nothing to show. Compare that stadium to Lagos State owned Thunder Balogun stadium and the difference is clear .
Nigerian National Shipping line? Where are the ships? They disappeared between 1999-2015
NEPA after Obasanjo spent $16 billion, they broke down NEPA to several units and sold it to themselves and NEPA is still not efficient while Atiku’s Mikano Generators is powering Nigeria & her businesses!
Obasanjo/Atiku sold Port Harcourt Refinery to their cronies in 2007 and thank God, President Yar’ Adua reversed it .
All of these happened in the 8 disastrous locust years of the obasanjo/Atiku, Recession didn’t just happen! They looted us into recession! I cannot stand and watch those who plundered the nation come back in 2023. Stop praising and voting for individuals who took your future away and stop them from coming back to steal your generation away
Nigeria has a population of 200million people we are told.
Our 2018 budget is 9 trillion Naira.
The Assets Management Corporation of Nigeria AMCON, the company that was set up to help the rich buy their debts, told us last month that, 350 Nigerians {out of 200million citizens} are responsible for 80% of AMCON’s N5.4 trillion debt portfolio.
May be you did not hear that well!
AMCON said only 350 Nigerians borrowed N5.4trillion from banks, which they could not pay and AMCON came in to buy up those debts in other to save the commercial banks from collapsing.
To put that in perspective;
2018 Capital Budget is N2.4 trillion
2018 Recurrent Budget is N3.4 trillion
Add both capital and recurrent votes and you will get N5.8 trillion.
But 350 Nigerians, out of 200 million of us borrowed that same amount, they refused to pay and government came round to buy the debts over through AMCON.
The corporation also pointed out that, out of the millions of BVN numbers with the banks, only 100 BVNs collect 60% of bank lendings.
And this has left the banks with 13,000 bad loans worth 5.6trillion borrowed by “big men” who are now fighting to remove this administration so that they wont ever pay their debts!
Now, when they go to recover from defaulters like they did with Silverbird for example, the same cheated ignorant commoners are the first to cry fowl.
Some of the companies owing include:
Seaworlf Nig Ltd – 160billion
Arik Air – 300billion
Tanzila Petroleum Ltd 49.2billion
Resort Int’l Ltd – 36.3billion
Home Trust Savings – 25.75billion
Suru worldwide ventures – 24.4billion
Roygate properties- 23.26 billion
Ziglagsis network Ltd – 20.33 billion
Lexcap partners – 18billion
Anyiam Osigwe Ltd – 17.25billion
Silverbird – 11 billion
Wokson International – 5 billion
From the figures above:
Arik alone is owing more than the 2018 Ministry of Transportation budget which is N263 billion.
Seaworlf Nig Ltd, is also owing more than the 2018 Ministry of Defence budget which is N145 billion.
It’s not rocket science which is a product of our contrived emotions not our lack of education is exonerating, encouraging and emboldening them to make desperate attempts to come back o power!
Enough of this madness brethren and sisthren!
May Nigeria Succeed!!!!
