Shettima Demands Full Transparency In Nigeria’s Privatisation Process
Vice President Kashim Shettima has issued a strong directive to members of the National Council on Privatisation (NCP): “Every transaction must pass the microscope test.” Eyes Of Lagos reports,
Speaking at the second NCP meeting for 2025, held at the Presidential Villa in Abuja, Shettima called for total transparency, legal due diligence, and public accountability in all privatisation transactions.
“We Can’t Afford Mistakes That Cost Nigeria Billions”
“We are almost always vulnerable to arbitration and being shortchanged,” Shettima warned.
“Every transaction must be subjected to microscopic scrutiny so we are not called upon ten years later to explain what we did.”
According to a statement by his media aide, Stanley Nkwocha, the Vice President emphasized that the NCP has a legal and moral duty to safeguard the nation’s economic interests and avoid the pitfalls of past deals that resulted in lawsuits and financial losses.
What’s on the NCP Radar?
The Council reviewed key national assets and ongoing privatisation initiatives, including:
Ibadan Disco: Divestment of shares by acquisition lenders
Zungeru Hydroelectric Power PLC: Concession agreement review
Transmission Company of Nigeria (TCN-NISO): Assets and liabilities split
World Bank’s $500M DISREP Program: Updates on the power distribution sector
Dispute settlements involving Bureau of Public Enterprises (BPE)
The Message Is Clear:
No shortcuts, no cover-ups, and no transactions without legal protection for Nigeria’s future.
