‘Over 80% Of The Country’s Wealth Went To The South During The Privatization Of Industries’ -According to SAN Bashir Dalhatu

SAN Bashir Dalhatu, Chairman of the Board of Trustees, Arewa Consultative Forum, has thought back on previous government policies that had a detrimental effect on the North, especially the privatization of state-owned companies in Nigeria. He pointed out that as a result, the South has benefited from an unequal distribution of wealth. He claimed that during the privatization process, the South received about 80% of the nation’s wealth. He voiced the opinion that state ownership would have guaranteed the protection of Nigerian interests better than selling jointly owned government companies to private businesses. CONTINUE FULL READING>>>>>

However, he lamented that this vision was not realized, and the privatization contributed to setting the North back in terms of resources and economic activities.

He said in an interview with Arise TV, ”We recall other government activities that have put us backward in the North. Like the privatization of government-owned industries in Nigeria. And this was after the Petroleum discovery. Naturally, those in the proximity of the Source of Wealth were getting easier than people that were far away from it. Over 80% of the country’s wealth went to the South during the privatization of industries.

Our view at that time was that if you are selling jointly owned government industries to enterprises, you should sell them to the state government which will now home interest to the individuals. So that in the end, ownership will still belong to Nigerians. But unfortunately, that didn’t happen that way. That pushed the North backward in terms of resources, and economic activities.” CONTINUE FULL READING>>>>>