How Atiku Became The “Acclaimed” Businessman He is Today – Mohammed Gani Fawehinmi

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Atiku iNaijaNow
Atiku iNaijaNow

Please, I do not have any partisan political agenda, rather factual report on ATIKU as a Presidential aspirant in Nigeria.

Please, any or all ATIKU supporters or his campaign structure are free to deny this 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.

  • 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 a 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.

Let’s 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 Seating 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.” EIA kill you there.

FG’s Five percent share in Eleme Petrochemical worth USD27 million was never presented to at the National Council on Privatization before t’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.

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

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