Business & Finance

Recession: Obasanjo Advises Buhari to Sell 49% of NNPC

Obasanjo and Buhari

Nigeria’s former President Olusegun Obasanjo has advised President Muhammadu Buhari to sell parts of the country’s stake in the state oil firm to pull the nation out of recession.

‎”Selling national asset during recession time like this is not a bad thing,” Obasanjo said in Ogun state on Tuesday. “Government should sell 49 per cent of the Nigerian National Petroleum Corporation (NNPC).”

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He also called for the reorganisation of the oil and gas sector and cautioned against the asset to dubious people.

Overall, the Buhari led government should clear on what it plans to do, he said, adding that the process of selling the asset should be transparent, to ensure that every willing Nigerian has access to the asset.

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