NNPC should be disbanded ― Sanusi

Former Emir of Kano, Muhammad Sanusi II has joined the legion of prominent Nigerians calling for the disbandment of Nigerian National Petroleum Company Limited (NNPCL).

The 14th emir of the ancient city of Kano was speaking as the guest speaker during the 7th Kaduna Investment Summit held at the Murtala Muhammed Square on Saturday.

Recall, the state governor, Nasir el-Rufai called for the sale of the nation’s refinery a few days ago in view of its poor performance.

According to the former Emir of Kano, the company should have been much better than it is, but unfortunately, it has become a money pit instead of a cash cow.

He said the four refineries which are more or less in comatose and apparently not satisfying the yearnings of the Nigerians should be unbundled and disbanded.

More generally, Sanusi advised states of the need to find ways to free themselves from the effects of leakages and unorthodox policies at the Federal level.

“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.

On the next coming elections in 2023, while wishing the political office seekers the best of luck, he urged them to take unpopular decisions once they get to power.

“Once you start thinking of how you will win your second term, is the beginning of your problem.

He commended the successful implementation of the Treasury Single Account (TSA) saying, “an area where Kaduna, in particular, has shown leadership.

“Research by BudgIT shows that is the only State to have met the World Bank’s State Fiscal Transparency, Accountability and Sustainability scoring criteria for two years in a row. This includes running a function TSA that covers more than 80% of revenues.”

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