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Just In: I will privatise NNPC if elected president – Atiku

Former vice president and flag bearer of the Peoples’ Democratic Party (PDP) Atiku Abubakar has vowed to privatise the Nigerian National Petroleum Corporation, NNPC if he is elected president next month

Mr. Atiku made the promise, Wednesday, saying he would seek to privatise the Corporation and other government assets if elected, while removing a costly petrol subsidy, to revive the economy.

Atiku Abubakar, a businessman who served as vice president between 1999 and 2007, has promised to double the size of Nigeria’s economy to $900 billion by 2025.

He is the main challenger to President Muhammadu Buhari in the Feb. 16 election. Nigeria’s oil-dependent economy, which vies with South Africa’s to be the largest in Africa, has performed below par since 2016, when it suffered its first recession in 25 years.

The Nigerian National Petroleum Corporation reported monthly group revenues totalling 4.58 trillion naira ($14.9 billion) in the 12 months to September 2018. Oil sales overall account for around two-thirds of government income.

PDP presidential candidate, Atiku Abubakar

The subsidy has been a drain on government finances. A previous effort to remove the subsidy by President Buhari’s predecessor, Dr. Goodluck Jonathan, raised pump prices in 2012 and caused riots.

Source: Reuters

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Olusegun Fayose

Olusegun Sunday Fayose, founder of RovingNaija.com is a Marketing Communication executive with experience in Corporate Communication, Public Relations, Branding and Advertising. He is also a seasoned media professional with roots in print, broadcast and online journalism. Segun, who last managed the Group Corporate Communication function of MultiChoice Nigeria, is upbeat that through responsible, fair, accurate and courageous reporting; and the support of readers, followers and patrons, Nigeria takes a step closer to a regime of accountability, fairness and equity in governance.

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