Yunus Abdulhamid
1 October 2008
The Minister of Information and Communication, Mr John Odey has said that the privatisation of state enterprises embarked upon by the federal government has yielded about $10billion in the past few years. He said but for the privatisation, $10billion (N1.16trn) would have been used to service the government's corporations.
"About $10billion that would have been transferred to the moribund enterprises for operations was saved for the national treasury," he said. Odey was speaking at the ministerial press briefing organised by the Bureau of Public Enterprises (BPE) last week in Abuja. He noted that the liberalisation of the Telecommunications industry in the renewed wake of privatisation made it possible for the transformation of the sector from 400, 000 land lines before 2001 to over 50 million GSM subscribers today.
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