Section 5: Allotment of shares of privatised enterprises

(1) Subject to any direction of the Council and without prejudice to the provisions of section 2 of this Act, the shares of the enterprises to be allotted to Nigerians under this Act by public offer shall be in accordance with the provisions of subsections (2), (3) and (4) of this section.
(2) The shares on offer to Nigerians shall be sold on the basis of equality of States of the Federation and of the residents of the Federal Capital Territory, Abuja.
(3) Not less than 1% of the shares to be offered for sale to Nigerians shall be reserved for the staff of the public enterprises to be privatised and the shares shall be held in trust by the public enterprise for its employees.
(4) Where there is an over-subscription for the purchase of the shares of a privatised public enterprise no individual subscriber shall be entitled to hold more than 0.1% equity shares in the privatised public enterprise.