The Senate Committee on Privatization and Commercialization has kicked against the proposed guided liquidation of the Nigerian Telecommunications Limited (NITEL) saying that the plan is not in the best interest of the country. Speaking in an interview with journalists at the National Assembly Complex, the Chairman Senate Committee on Privatization, Olugbenga Obadara said the Bureau of Public Enterprise (BPE) is ignorant of the actual worth of NITEL.
He said instead of liquidating NITEL it should be allowed to pass through the process of concession. The Senator said during discussions on the liquidation of Nitel, his committee was “confronted with facts that NITEL is owing Federal Government and other people N351 billion. But in the process, we asked the question who is owing NITEL? The people that are owing NITEL now we don’t know. We asked the question what is the worth of NITEL today? They cannot tell us the worth of NITEL. How do you now sell what you don’t know the worth,” Senator Obadara asked.
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