The presidential candidate of the Peoples Democratic Party, Atiku Abubakar, says he will sell the Nigerian National Petroleum Corporation and retain just 10 per cent of the company for the Federal Government.
Atiku said this in an interview with The African Report, a monthly publication.
Atiku, who presided over the National Council on Privatisation during his tenure as vice-president, said the NNPC was supposed to have become more profitable by now.
The PDP presidential candidate said Nigeria ought to have been producing far more than two million barrels of oil per day.
Speaking further on the privatisation of the nation’s oil company, he said, “Without a stable regulatory framework, the oil and gas companies will find it difficult to invest more in Nigeria.
“At the time, we pushed for the passage of the new law. We expected that Nigeria would be able to export up to four million barrels per day, but here we are, still at less than two million barrels per day.”
