Governor of Kaduna State, Nasir El-Rufai, said the Federal Government has failed in the oil and gas sector and should immediately hands off control of the sector.
Speaking at KADINVEST, an economic summit in Kaduna, yesterday, he stated that government does not have any business managing the oil sector.
“Any sector that the Federal Government tries to get into gets messed up. Any area that the government can get out of it should.”
He added that the Federal Government has no business in oil and gas and should privatise the oil and gas sector.
“Because NNPC claims that subsidy has taken all the oil revenues, I don’t believe that. So, the government should sell everything -the oil and gas sector. I have been making this point since 1999 when I was head of the Bureau of Public Enterprises (BPE). I have not changed my mind.
“Nothing has changed for NNPC other than adding ‘L’ to it for the limited. They are still taking our money. They are still declaring profits that we don’t see the dividends.
“The government should get out of whatever is left of electricity. Leave it to the private sector. Maintain the environment. The money will come.”
The NNPC was transformed from a corporation to a limited liability company in July 2022.
On October 5, the petroleum company said it uncovered an illegal four-kilometer pipeline that had operated undetected in the last nine years.
