Former President Obasanjo supports sale of National assets...

Former President Olusegun Obasanjo on Tuesday threw his backings on the proposed sale of national assets but said the problem was in the coinage.

Obasanjo said this in Abeokuta at the opening ceremony of the National Council On Finance and Economic Development Conference (NACOFED).

The theme of the conference is “Enhancing Revenue Generation and Obtaining Best Value for Money in Expenditure”.

According to Obasanjo, “We must begin to do away with things that we can do without and if we must import them, let them attract very high duties,” he said.

Obasanjo who backed the call for the sale of some national assets to raise money, described such act as natural. The former president said port authorities and Nigeria National Petroleum Corporation (NNPC) were part of assets that Nigeria could partly sell to generate fund.

“I do not see why 49 per cent of NNPC cannot be privatised. “I think the problem is in the coinage

“selling of asset” as if we want to throw out our inheritance. “What we are actually doing by that is simply re-organising.

“It should however be done transparently and let it actually go public and not to cabals, relations and friends.

“This is always the fear of Nigerians when issues like this arise,” he said.