Nigeria is broke: A must read: Preye Aganaba PLS U NEED TO READ THIS REPORT .... BERNE REPORT FROM EUROPE ... WHY NIGERIA IS BROKE ... At the head of Africa’s largest nation’s financial meltdown is the oil minister, one of the president’s , or rather, “Charlie’s angels;” a billionaire or trillionaire, who “owns” Nigeria’s corporate media and senate and remains relatively insulated from proportional castigation and arrest for gross looting of the nation’s oil revenue. A typical case that merits little media attention involves the minister of oil, Diezani Alison-Madukwe and two of her alleged “stooges,” one Jide Omokore and another Kola Aluko. A case of iniquitous misappropriation of over N58.9 trillion naira from the illegal transfer of four oil blocks in favour of Jide Omokore`s ATLANTIC ENERGY DRILLING CONCEPT. This whopping sum the minister and her coterie are accused of plundering, equals the nation’s total earned oil revenue for four years at the rate of $100bn or 16 trillion/year. The case is being handled by the Senator Emmanuel Paulker-led Committee on Petroleum Upstream. (National Enquirer) These “Diezani boys” who have recently been featuring in the news, command so much wealth, they are reported to be flying around the world in private jets and buying up hundreds of millions of dollars worth of property and boats. Illustrating the authority and audacity of Jide Omokore, he was arrested in France with Nigeria’s presidential jet in november of 2012 What the gross, blatant robbery and misappropriation of Nigeria’s wealth, being stolen before and after it reaches the nation; accounts to is frank terrorism. The nation is on its knees, crippled and begging for international assistance from the ongoing siege. The masses who pay tax and pay fuel subsidies, only for the income to be looted in whole, are what can be termed as “mugus,” “fools,” as also is the nation’s military currently dying, engaged in what the police should have controlled (waging a war against Boko Haram terrorists in the nation’s north eastern borders) while in a role-reversal, the police are occupied in fascist intimidation campaigns, as criminal tools of the presidency. While the drained military die to clean up the mess of politician and police fatuitous obliquity, the culprits and masterminds behind Boko Haram remain free with impunity, guzzling the nation’s wealth in high offices.Nigeria’s minister of the economy, Ngozi Okonjo-Iweala has stubbornly denied that the nation is broke. This is far from the truth and reality on the ground. Multiple sources within all arms of the Federal government acknowledge that Nigeria is broke and unable to take care of it financial obligations to the people. The budget for the fiscal year, 2012 was 5 trillion naira, this is about 30billion dollars. The total revenue earned from oil sales in the same year, according to British Prime Minister David Cameron was 100 billion dollars. There is a gross discrepancy in the budget – not inclusive of actual funds disbursed—from the total earnings in oil revenue. This gap can only be accounted for if Nigeria paid in amortization on its foreign debts to the tune of 70 billion dollars.However in this same period, Nigeria has accumulated greater foreign debts and its 2012 repayment figure was $246,663,000 according to Index mundi. The total foreign debt stands at $6.7 billion. Clearly, foreign debts are not where our massive revenue from oil is going. thewillnigeria/news/opinion-nigeria-is-broke-trillions-in-oil-revenue-looted/ OPINION: NIGERIA IS BROKE! TRILLIONS IN OIL REVENUE LOOTED thewillnigeria 16 minutes ago · E
Posted on: Sun, 17 Nov 2013 01:09:56 +0000