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From Okwe Obi, Abuja
The Coalition of Northern Groups (CNG), has flayed the proposed privatisation of the Calabar, Ihovobor, Olorushogo, Omotosho and Geruge power plants which are under the Niger Delta Power Holding of Company (NDPC), by the Vice President Yemi Osibanjo-led National Council on Privatisation (NCP) and the Bureau of Public Enterprise (BPE).
CNG’s Spokesperson, Abdul-Azeez Suleiman at a press briefing yesterday in Abuja, described the move as “most dubious, unreasonable, and unacceptable act of injustice that is being perpetrated against Nigerians collectively and Northerners in particular.”
Recall that in 2013 a privatisation attempt was made by the Goodluck Jonathan-led administration chaired by his Vice Namadi Sambo a situation that led to a plethora of litigations and it was dropped.
But on April 22, 2021, the NCP proceeded with the sales of 100% shares of the five Nigeria Integrated Power Plants generating assets, to mitigate budgetary constraints faced by the Federal Government through the proceeds of the privatisation.
Suleiman, who argued that the assets do not belong exclusively to the Federal Government but the three tiers, added that “the privatisation plot reneges on the understanding that after certain years of piloting the projects in Southern Nigeria, the assets were to be sold and the proceeds reinvented in setting up hydro generation assets in part of Northern states for similar length of time.
“That contrary to the original intent of the shareholders which was to reinvest proceeds from privatisation in developing renewable generation projects, this fresh privatisation plot dubiously purports to divest the into funding the federal government’s budget deficit under the cover of the disruptive impact of the COVID-19 pandemic on the nation’s economy.”
To this end, he declared that the move “impliedly seek to undermine the Northern economy by deliberately reneging on mutually agreed terms stand unacceptable, and shall be vehemently resisted.
“The North will go to any length to challenge the continuance of this dubious plan without involving the region in the discourse to determine, in the context of the applicable policy, legal and regulatory framework, the appropriate legal framework or legislation under which the transactions will be implemented.”
He warned all northern governments against keeping mum or complying with the proposed sales as the region would hold them responsible.
