http://www.thenationonlineng.net/2011/index.php/news/16526-obasanjo...
By Ernest Nwokolo, 19 August, 2011.

Reporter: el-Rufai said you almost or attempted to block the sale of Nigeria Airways

Obasanjo: “I blocked the sale of Nigeria Airways, not that I attempted to block the sale of Nigeria Airways. When I was military Head of State, Nigeria Airways had 32 aircraft. By the time I came back as elected President of Nigeria, Nigeria Airways had only one aircraft. One of the 32 was a wide body. They had all gone and the report on which we worked is here. The amount of money we will have to pay if Nigeria Airways was sold, what we would get out of it is less than 10 per cent of the debt we had to pay. That would be the debt Nigerian tax payers would have to pay; that was not the way to run the affairs of this country. I won’t run my own affairs that way. So, I opted for liquidation. So, it was bankrupted; it was liquidated; in which case whatever you gained from liquidation, which is also a form of sale, it means the burden will be shared by all the creditors and everybody. So, if I owe you 10 dollars and what I sell when I am liquidated is two. That’s what you get. So, I did not allow normal privatisation or sale because it would have put very heavy burden on Nigeria. So, Nigerians should know that and, in fact, my administration should be commended for that. It’s not that I did not allow that sale because by the law establishing it, liquidation is also a form of sale.

Reporter: We learnt that you’ll be invited to come and explain yourself on the issue. Will you be there?

Obasanjo: Anybody who wants me for any event, I’m available.