At Kaduna Investment Summit, Sanusi says NNPC should be disbanded
Alhaji Muhammad Sanusi II, former Emir of Kano, said the Nigerian National Petroleum Company Limited (NNPCL) to be disbanded.
Muhammad Sanusi II, who was the guest speaker at the 7th Kaduna Investment Summit held at the Murtala Muhammed Square on Saturday, said the company should have been much better than it is, but unfortunately, it has become a money pit instead of a cash cow.
Only recently, Kaduna State Governor, Nasir el-Rufai, had called for the sale of the nation’s refinery in view of its poor performance.
For the 14th Emir of Kano, however, the four refineries which are more or less in comatose and apparently not satisfying the yearnings of the Nigerians should be unbundled and disbanded.
Sanusi said there is the need to find ways to free themselves from the effects of leakages and unorthodox policies at the Federal level.
According to him, instead of pushing for a revised revenue sharing formula (a bigger piece of a shrinking pie), they need to push for new and independent powers of taxation.