The process of sharing Nigeria’s oil block national cake is as fraudulent now as when Ibrahim Babangida started the process of discretionary allocation of oil blocks to indigenous firms. Discretionary allocation of oil blocks entails that a president can reward a mistress who performs wonderfully with an oil block with capacity for cumulative yield of over $20 billion dollars without recourse to any process outside of manhood attachments. Babangida, Abacha, Abdulsalami and Obasanjo awarded discretionary oil blocks to friends, associates, family members, party chieftains, security chiefs and all categories of bootlickers, spokespersons and cult members without any laid down procedures. The recipients of such oil blocks will get funds from ever willing offshore financiers and partners to graciously settle the benefactors, the awarders, facilitators and the Commander-in-Chief through fronts. These settlements mostly paid into foreign accounts runs into hundreds of millions of dollars according to the potential yield of the block. Sometimes, the awarder (sharer of national cake and direct intermediaries) demand additional stakes in the bidding company. The awarder sends fronts as part of the directorship and management of the bidding firms without leaving a link to them. That is how the oil block national cake is distributed to a few Nigerians. Signature bonuses which are paid when an investor successfully bids, wins and signs agreement with the petroleum ministry, running into tens of millions and sometimes hundreds of millions of naira ,is often waived off. There is actually no waiver; rather a diversion of what would have been paid to government t coffers is paid into private purse as appreciation gifts. That is why those in the Petroleum Ministry dread retirement as though it signifies going to hell fire. No matter how little your influence, something substantial must enter your hands especially in hard currency. The nation loses billions of dollars in diverted revenue whenever any round of auction occurs. The regime of President Goodluck is not showing any signs of changing the status quo. Controversies have trailed the activities of the Minister of Petroleum and many players in the Industry accuse her of demanding stakes from every oil deal. It is hoped that President Goodluck Jonathan will remember his transformational promise to Nigerians and endeavour to face the hawks in the oil industry. The angst in the air is so much that if this monster of illegal allocation of oil block is not addressed, the much touted revolution could begin all of a sudden and all who condoned this illegality at the expense of hungry Nigerians may have nowhere to hide. -- [Join EDO PEOPLES MOVEMENT FOR THE RESTORATION OF BENIN KINGDOM OF 1897. An Edo Patriotic Movement there to enlighten, strengthen and actualize the Edo dream. Defending and demanding the restoration of EdolandThe group is not about hating or spreading violence but the act of live the Edo National vision in Nigeria. Thank you -(Keep spreading the awareness. share on your profile pages ) https://facebook/groups/1588547554704863/] details at ihuanedo.ning/group/wazobiaisalienotnigeria/forum/topics/injustice-20-owners-of-richest-oil-blocks-in-nigeria-without-edo-
Posted on: Mon, 01 Sep 2014 19:00:34 +0000
Trending Topics
Recently Viewed Topics
© 2015