/ 29 August 1999

NIGERIA TO EARN $130m IN PRIVATISATION

NIGERIA is to earn 13 billion naira ($130-million) in the first phase of its privatisation programme. Nigeria has slated some state-owned companies in the telecommunication, energy and agriculture sectors for sell-offs due to unprofitability and inefficiency. Vice President Atiku Abubakar told the Senate committee on privatisation on Thursday that the sales of shares in the companies arescheduled through the year 2001 “to allow for rehabilitation and proper valuation of public monopolies,” the state-run Daily Times reported.