Proposed Sale Of National Assets Is Wicked And Selfish – Cross River PFN Chair

In Breaking News, Business & Economy, International News, National News, Politics, Reports

By Archibong Jeremiah

Chairman of the Cross River state chapter of the Pentecostal Fellowship of Nigeria PFN, Pastor Lawrence Ekwok
Chairman of the Cross River state chapter of the Pentecostal Fellowship of Nigeria PFN, Pastor Lawrence Ekwok

The Chairman, Pentecostal Fellowship of Nigeria (PFN) Cross River State Chapter, Dr. Lawrence Ekwok has described the proposed sale of some national assets by the Federal Government as “ Not only a wicked and selfish call, it is evil and devilish”.

Dr. Ekwok said this while speaking at the Pentecostal Fellowship of Nigeria solemn assembly held recently in Calabar, the Cross River State capital.

His words, “The first issue I will like to touch is the issue of the proposed sale of national assets. Before taking a position on this matter I would like to enjoin us to recall the past, ask questions about what happened to Nigeria’s national assets that were sold under the guise of commercialization and privatization in the past”.

Adding that: “The Ajaokuta Steel Company for instance was built then at the cost of 3.3 billion dollars, but was sold at a paltry sum of 250 million dollars to a Russian company known as Rusa. As if that was not enough day light robbery on Nigerians. Only 130 million dollars of the 250 million dollars was paid. Nothing has been heard about the balance till date. Delta Steel Company valued by PBE at 225 billion naira was sold at 4.5 billion naira only”.

He went on to reveal that, “Of a total of well over 100 companies owned by the Nigerian people otherwise known as national assets that were sold, only a paltry 301 billion naira was realized and out of this amount, 36.1 billion naira was spent on transaction cost”.

According to the Cross River PFN Chairman, “Based on this scenario therefore, Nigerians must today reject and resist vehemently this planned day light robbery called proposed sale of national assets”.

Concluding, he urged Cross Riverians and Nigerians at large to depend more on the result their skills can provide and acquire more capacity and also appealed to wealthy Nigerians to give back to the country and not seek to buy national assets that will continue to enrich them at the expense of the country.

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