Former president Chief Olusegun Obasanjo says there is nothing wrong in the sale of national assets.

Obasanjo made this known on Tuesday in Abeokuta while addressing the National Council of Finance and Economic Development conference.

Obasanjo said selling national assets during a recession was not wrong, as he proposed a 49 per cent sale of the Nigerian National Petroleum Corporation (NNPC).

“Selling national asset during recession time like this is not a bad thing.

“Government should sell 49 per cent of the Nigerian National Petroleum Corporation (NNPC).”

However, he spoke against selling national assets to a cabal.

“I see no reason why 49 per cent of NNPC cannot be privatised.

“Don’t give it‎ out to cabals, friends, relations, kin and kith. Let it go public, so that even my driver can buy 10 per cent of NNPC. There should be a limit to the share any individual or corporate organisations can buy. There is nothing wrong in that. The NNPC will then be run as NLNG was run.

“The NLNG is doing wonderfully well. NNPC was doing very well‎ until we started running it not the way it should be run. If it can be run this way in the past, who says it cannot be run that same way in future. We must prevent reoccurrence.

“Many people thought selling was a bad thing, no. You are reorganising the sector. That is all it is. You’re reorganising the sector. You talk of asset that are not doing well. No! If you have to earn money to get yourself out of the situation you are in, you can even sell good asset. You can, the only thing is how do you sell it?”

Obasanjo said during a recession the nation needs to be prudent in its spending.

Obasanjo joins the likes of billionaire Aliko Dangote, former CBN Governor Sanusi Lamido Sanusi, and Senate President Bukola Saraki to suggest the sale of national assets.