PRESS STATEMENT
PRIVATISATION PROBE: WE SALUTE THE SENATE
The Nigeria Labour Congress (NLC) has watched with keen interest the ongoing debate on the report of the Senate Adhoc Committee that probed the privatisation of public enterprises. We have noted some of the salient recommendations of the Committee, and strongly back the Senate’s debate and hope that the patriotic spirit displayed so far will lead to positive outcomes in the interest of workers and the Nigerian people.
We commend the Senate on its decisive position on the issue. Particularly, we back the Senate indictment of all past and present Director Generals of the Bureau of Public Enterprises (BPE)
The summary of the debate in the Senate tallies with the position of the NLC that the privatisation programme lacks transparency and was built on fraud, criminality and bare-faced theft of the country’s wealth. A few examples of such blatant criminality and connivance were aptly reflected in the sale of NITEL Plc and Transcorp Hilton Hotel to a conspiratorial gang in government and the private sector masquerading as Corporate Nigeria.
The failure of the privatisation gambit can be seen in the fact that over ninety percent of the companies privatized have either collapsed or are in worse conditions than they were before being privatised. Obviously, the privatisation programme has been characterised by asset striping and sometimes complete closure of privatised companies, like what obtains in the iron and steel industry.
What we consider to be more criminal is that the funds realised from privatisation over the years have not been accounted for.
Nigerians do not know how much has been realised so far from the privatisation programmeor what the funds have been used for. Also, workers in these privatised companies were severely shortchanged with many of them not being paid their statutory severance benefits. This has been the case in NITEL, Daily Times, among others.
The NLC backs the call by the Senators for the review of the privatisation programme and reversal of all those privatised companies that are found to have been sold without transparency and adherence to laid down procedures and global best practices.
We demand that all those indicted or might be indicted in this criminal process should be brought to book.
Some of these criminal elements who had obtained public enterprises through fraudulent means, and are hoping to manipulate the process through the powers that be and legalism to save their necks, should bury their heads in shame
The Labour Movement and the working people will mobilise Nigerians to check this subterfuge and will not rest until justice is done on this issue.
We salute the Senate on the remarkable work it has done so far, and urge the Senators to remain undeterred, focused, and courageous in this important national assignment.
Chris Uyot
Head of Information and Public Relations
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