Former Kano Emir Alhaji Muhammad Sanusi II has called for the dissolution of Nigerian National Petroleum Company Limited (NNPCL).
Muhammad Sanusi II, the guest speaker at the 7th Kaduna Investment Summit held on Saturday at Murtala Muhammed Square, stated that the corporation should have been far better than it is, but it has instead become a money pit rather than a cash cow.
PulseNets notes that Kaduna Governor Nasir el-Rufai has called for the sale of the country’s refinery due to its poor performance.
In a similar line, the 14th Emir of Kano stated that the four refineries, which are more or less dormant and appear to be failing to meet Nigerians’ expectations, should be unbundled and disbanded.
Sanusi also recommended states to find measures to mitigate the effects of leakages and unconventional policies at the federal level.
Instead of advocating for a revised revenue sharing formula (a larger share of a decreasing pie), he believes they should push for additional and autonomous taxation authorities.
