Bayo Ojulari: A Strong Move

Egbon Bayo is the GCEO of the giant NNPC. Well, he has been reported to have announced that they were looking at selling 5% of the inefficient corporation to equity investors. He is also said to have mentioned that they would be dual-listing and all of that kind of thing. You see, when I was shouting about the Board composition of that JP Morgan, you people were accusing me of shouting wolf. This is the target, so they either white-labelled the thing in preparation for this offer or just positioned themselves for this mandate, and we are here shouting FDI when the N50billion they paid to come in with their portfolio will not even pay a bonus for one executive in their New York headquarters. Anyway, my own is very simple. Why sell only 5%? Please sell the whole thing. The government should move away and stay at the Ministry of Petroleum and regulate so that the NNPC can be run efficiently and pay licensing fees, tax, VAT and other such revenue gambits to the government. Selling 5% is treating pimples for leprosy. Sell the whole damn thing, make we hear word. Even if you want to sell to yourselves, sell it; the secondary market will take care of that. Just sell the whole thing. What is 5%? That is playing “boju boju” with our destiny. If you are selling, SELL. If you are not selling, don’t sell, make we rest abeg. Kai.