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| Vice President Yemi Osinbajo |
The Federal
Government has warned owners of all privatized assets that the economic downturn
is not an excuse for default.
Daily Trust report
continues:
Vice President Yemi
Osinbajo gave the warning at the State House in Abuja yesterday while meeting a
delegation of the House of Representatives’ Committee on Privatization, led by
its chairman, Ahmed Yerima.
Osinbajo specifically
cautioned that investors and business owners who took over public enterprises
should run them based on agreed terms.
“Once a sale is
completed, the business should keep the terms of the same, even if there is a
downturn,” he said.
Urging all the parties involved in the privatization process to take it serious, he noted that rather than allow itself come under undue pressure, the government would approach the issue of additional concessions after sales cautiously.
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