JOY TO THE WISE. SORROW FOR THE FOOLISH. In 1995 Norway decided to use only 4% of its oil revenue for recurrent Infrastructure and other public projects. The rest (96%) was invested in international markets for the use of future generations, bearing in mind that oil is not a renewable resource. Today Norway a country with a population of only 5 million people has foreign reserves of $890.00 billion. Nigeria with a population of 170 million has less than $40 billion. Around here Governors who cannot create anything are asking that all oil revenues should be spent as soon as we make it. Today oil prices have begun to slide leading to currency devaluation in Nigeria because nobody was ready to prepare for the rainy day like Norway is doing. Nigeria will be great but not with the current attitude. You cant eat your cake and have it. Only children think that way. Very soon the people will know the Governors that actually deserve their positions once the free oil revenue dwindles. For now majority cant even pay salaries.
Posted on: Sat, 29 Nov 2014 05:53:49 +0000
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