Home / News From Nigeria / Breaking News / Many Seemingly Rich Nigerians Are Bankrupt – Emir Sanusi
sanusi

Many Seemingly Rich Nigerians Are Bankrupt – Emir Sanusi

sanusilamidosanusi: I am Chairman of a company called Black Rhino. By the way, I don’t have a kobo in that company, but I am a Chairman. This short man who owns black stone said to us: “Gentlemen, here is $5 billion to invest in power projects in Africa, a joint venture with Dangote on a condition that for every $1billion you put in, Dangote puts in $1 billion, so we have $10 billion to invest. We have projects in Ethiopia, Eritrea, and Kenya. I accepted to be Chairman on one condition only, that he will allow me to fix a power project in Kano. And he said: “If you can find a good power project in Kano, I am okay.”

Now, power companies are here trying to invest, negotiating. & what did we hear? One day some judge in a court sits down and says reverse the tariffs. I am here talking to someone in New York who cannot understand that a government can issue a power privatization plan; that investors can come in; that there is a regulator for power;that they looked at the numbers, looked at the cost of power, looked at what is cost recovery, agree on a tariff, announce that tariff, they bring in their money to invest on the basis of that and a court in the same country says this is illegal. –

Muhammadu Sanusi II

About Lolade

Viral Video

Support Ooduarere

SUPPORT OODUARERE
Scan QR code below to Donate Bitcoin to Ooduarere
Bitcoin address:
1FN2hvx5tGG7PisyzzDoypdX37TeWa9uwb
x

Check Also

reno

A devalued currency does not mean a poor economy!

It is fallacious to say Nigeria’s economy is in shambles or in poor condition, or even worse off than where Buhari left it, because of the floating of the Naira. Overall, our economy has expanded, according to the World Bank, and is set to grow by 3% this year. Additionally, Nigeria has been upgraded by both Moody’s and Standard and Poor’s, which are the largest financial ratings firms on the planet. And our Stock Market is now the best performing ...