Atedo Peterside, entrepreneur and founder of Stanbic IBTC Bank Plc, has criticised the Nigerian National Petroleum Corporation (NNPC) for “wasting” money on advertisements on CNN.Information Guide Nigeria
In response to a publication, Peterside stated that he agreed with Kaduna State Governor Nasir El-Rufai over the poor condition of the NNPC, saying that the company’s business operations remained the same despite its recent privatization.
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“I couldn’t agree more with El-Rufai. Little or nothing has changed at NNPC Limited. They should stop wasting our money on CNN adverts in which they praise themselves unconvincingly. If they did anything good, their good works will speak for them,” Peterside said.
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According to him, “Nothing has changed with the commercialisation of the Nigerian National Petroleum Company in July 2022.”
He added, “There is no reason why the Nigerian government should still be in the oil and gas sector. It should just get out, it has failed. By every measure, it has failed.Jamb Result
“We are living on taxes. It is PPT, royalties, and income tax that are keeping this country going because NNPC claims that subsidy has taken all the oil revenues. I don’t believe that. So, the government should sell everything in the oil and gas sector. I have been making this point since 1999 when I was head of the Bureau of Public Enterprises. I have not changed my mind.
“The government should get out of whatever is left of electricity. Leave it to the private sector. Maintain the environment. The money will come. Nothing has changed for NNPC other than adding ‘L’ to it for the Limited. They are still taking our money. They are still declaring profits that we don’t see the dividends.”
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