Atiku cautions FG against hasty amendments to PIA, JV divestments

Abuja — Former Vice President Atiku Abubakar has raised concerns implicit caller reports of planned amendments to the Petroleum Industry Act (PIA) and proposals to divest important equity successful cardinal associated ventures wrong Nigeria’s lipid and state sector.

In a connection released connected his X handle, Atiku said that portion helium has consistently supported liberalization and the restructuring of underperforming state-owned enterprises, specified efforts indispensable beryllium guided by transparency, nationalist interest, and semipermanent strategical value.

“The Petroleum Industry Act was enacted to bring clarity, accountability, and capitalist assurance to a assemblage agelong plagued by opacity. Any effort to amend its halfway provisions indispensable beryllium approached with caution and wide stakeholder engagement,” helium stated.

He expressed interest implicit reported plans to trim the Federation’s stakes successful associated ventures, including RAEC JV, Oando JV, and Seplat Energy JV, informing that the presumption look to disproportionately favour prime insiders and overseas entities.

“These moves, if not decently managed, could erode nationalist trust, destabilize the sector, and compromise our vigor security,” Atiku cautioned.

The erstwhile vice president stressed that immoderate privatization workout indispensable beryllium conducted transparently, done competitory bidding, and subjected to rigorous nationalist scrutiny.

“We indispensable defy the temptation to prosecute short-term gains astatine the disbursal of Nigeria’s nationalist involvement and semipermanent stability,” helium said, urging the Federal Government to safeguard the country’s sovereignty implicit its strategical resources.

The station Atiku cautions FG against hasty amendments to PIA, JV divestments appeared archetypal connected Vanguard News.