Senate opposes liquidation of NITEL

 


The Senate has asked the Bureau of Public Enterprises BPE to discountenance any plan to liquidate the moribund Nigeria Telecommunication NITEL.

Instead of the “guided liquidation” of NITEL that BPE is pursuing, the upper chamber said NITEL should be concessioned or managed under the Public-Private Partnership (PPP) model.

Chairman, Senate Committee on Privatisation, Senator Gbenga Obadara, stated this at a press conference in Abuja, yesterday.

He said the committee told the BPE and National Council on Privatisation NCP not to liquidate NITEL and Mtel.

He said BPE informed the committee that NITEL was indebted to the Federal Government and others to the tune of N351 billion, adding that they were surprised that BPE or NCP could not give the worth of NITEL.

He said the committee is concerned that BPE intended to liquidate a firm it did not know its value.