KADINVEST: Sanusi calls for disbandment of NNPC,gives reason

Alhaji Muhammad Sanusi II, former Emir of Kano, has called for the disbandment of Nigerian National Petroleum Company Limited (NNPCL).

Muhammad Sanusi II, who was the guest speaker at the 7th Kaduna Investment Summit held at the Murtala Muhammed Square on Saturday, noted that the company should have been much better than it is, but unfortunately, it has become a money pit instead of a cash cow.

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

Speaking in the same vein, the 14th Emir of Kano, noted that the four refineries which are more or less in comatose and apparently not satisfying the yearnings of the Nigerians should be unbundled and disbanded.

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

According to him, 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.