Section 2: Mode of privatisation

(1) Subject to the provisions of section 11 (f) of this Act, an offer for the sale of the shares of a public enterprise shall be by public issue or private placement, as the case may be.
(2) An offer for the sale of shares by public issue to Nigerians may be made at the capital market.
(3) Where the shares of an enterprise are not to be offered for sale by public issue of shares or private placement, the Council may approve that the shares be offered for sale through a willing seller and willing buyer basis or through any other means.