FG approves sale of NITEL/MTEL for $252m

The National Council on Privatisation (NCP) on Thursday approved the sale of the liquidated Nigeria Telecommunication Plc and its subsidiary, Mtel, to NATCOM Consortium for $252 million.

Atedo Peterside, the chairman of NCP’s Technical Committee, told State House correspondents in Abuja that the approval was one of the decisions taken at a meeting of the council presided over by Vice President Namadi Sambo.

He said that NATCOM beat one other bidder to clinch the deal.

“What happened today was that

FG to privatize railways, inland waterways, 6 others in 2015

These sectors include: Railway; Inland waterways; Road Authority; Roads Funds; National Transport Commission; Ports & Harbour reform; Federal Competition and Consumer Protection and Postal bill.

Mr. Benjamin Dikki, the Director General of the bureau, disclosed this during the end year workshop of the Commerce and Industry Correspondence Association of Nigeria (CICAN) in Lagos, saying “Government is riding on the success story of the previously privatised Public Enterprises, PEs, such as banking, power, telecom, marine, steel sectors of the economy, etc.

According to him “Today,

Operators advocate overhaul of privatisation laws

Some capital market operators have called on the Federal Government to intensify effort towards amending the existing privatization laws that would transform the Nigerian economy.

They attributed the nation’s stunted growth, limited skilled human capital development and paucity of need infrastructure to the subsisting privatization legal framework.

The operators, who said on the sidelines of the just concluded forth annual capital market retreat that government needed urgently overhaul the privatization laws to maximize the fruits of the exercise in terms of sustainable economic growth and employment.

According to most of them,