NITEL to Present Report Of Its Liabilities to National Council On Privatisation

nitelThe Vice President, Arc. Mohammed Namadi Sambo has directed the management of the Nigerian Telecommunication Ltd. (NITEL/M-TEL) to present detailed power point presentation of its liabilities, partnership agreements and proposal to the National Council on Privatisation (NCP) in their next meeting.

Vice President Sambo gave the directive at the meeting of the National Council on Privatisation which he chaired in the State House, Abuja. He added that the outcome of the presentation would enable the Technical Committee of the Council to review and discuss on the issues affecting the company.

Sambo expressed concern over the deplorable condition of the Ajaokuta Steel Company and directed that the staff should be properly engaged and   suggested that a power company could be invited to manage the power plant of the company.

Council also directed the Director General of the Bureau of Public Enterprises to prepare a detailed report on power sector reforms to be presented at the National Economic Council on November 10, 2011.

The VP advised that due diligence must be observed and companies that submit fraudulent claims should be sanctioned.  He said government has shares in most of the companies it sold and wants to know how much these companies remit as dividends each year.

Sambo noted that there should be proper enlightenment campaign on government programmes and the activities of those who sabotage government’s efforts at providing social amenities to Nigerians especially in the power sector.

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