THE WAY FORWARD
Nat Omame Jnr. I Monday. December 16, 2024
LAGOS, Nigeria – Undoubtedly, the South South has been the Financial Fountain of Nigeria.
The Nigerian Financial Economy blossomed through the ingrained natural oil resources from Oloibiri, in Bayelsa State, in 1955. Of what relevance is Oloibiri to Nigeria, today?
Oloibiri has been forgotten. Why? Today, Oloibiri is devastated like Hiroshima and Nagasaki, into Nothingness Emptiness. No development and transformation.
Majority of Nigerian crude oil is exploited from the South South geo-political region. So, what has the region benefited? How many people in the South South have Oil Mining License (OML)? How many people from the South South geo-political region have crude oil lifting contracts?
Since political power is the major determinant factor, of financial empowerment, in Nigeria, clearly, the South South needs to re-stratergise to get a meaningful and rewarding political stake in the nations polity.
There is a visible need for the South South geo-political region to evolve an expansive political alignment that will pave the way for a concerted productive political vision that will propel the region into the totem pole of Nigerian political leadership.
There is an optimal necessity for politicians from the South South geo-political region to rationalize on the Way Forward for the transformation and development of the geo-political region.
At some time, chosen by the deep-seated Nigerian established noxious political oligarchy introduced petroleum subsidy. When a South South person was even in charge of the petroleum ministry, the person did nothing to empower people from the South South geo-political region. Therefore, there are multifarious complaints borne out of the planned and calculated design to deprive and deny the South South geo-political region of it’s financial and economic entitlement.
Sadly, they succeed. Now, they are in exile, running from court to court in different juridtions and countries to evade arrest and deportation. Undoubtedly, the withdrawal of petroleum subsidy is President Bola Ahmed Tinubu’s government ,arguably, the best policy of his government.
There are divergent opinions for that policy. Some positive, some negative. But, is in tandem state policies. Those who benefited from the Subsidy Regime where children of chief top-wings chieftains of the Peoples’ Democracy of Nigeria, (NPN). Some claimed they imported petroleum products through Benin Republic without legal verifiable evidence.
What should concern Nigerians, should ask, now, is how much is encruing from the Withdrawal of petroleum subsidy; and how is the money is being disbursed? Are Nigerians benefing? These are what should be the issues of discourse, not malicious criticisms, inspired by utterly endemic political ambitions for 2027, by evidential corrupt politicians that have thoroughly salted Nigeria’s money, by deploying their political positions to
intimidate the Central Bank of Nigeria,(CBN), to empower their their fellow launderers to enrich themselves; their families, political and social cronies through twisted financial and economic channels.
There was a fund for the development of oil producing states which was encased in Special Account in the Central Bank of Nigeria, (CBN), established by law. Former Vice President Atiku Abubakar, ordered the CBN Governor at that time, to transfer the money to Equitorail Trust Bank, owned by Chief Mike Adenugu. And that was the money which Adenugu used to bid for the License of GLO.
All bindings at Abuja, and all the fanfare, and publicity was inspired by that financial and economic criminal largesse. Because Atiku was the Chairman of the National Economic Commission, (NEC), in President Olusegun Obasanjo’s regime.
Obasanjo wholesomely granted him the authority of managing and supervising the economy of Nigeria to Atiku. And, it was there Atiku thoughly sidelined Obasanjo and utterly betrayed the South South geo-political region. Atiku financially empowered one individual against millions of people from the South South geo-political region.
Then, he wanted to contest against against Obasanjo in the 2003, presidential abasanjo with fleet of cars, and buses already purchased and designed. It took the plea of the, then, First Lady, Stella Obasanjo for Atiku to step down for his boss.
Atiku, deviously, penetrated the South West, and Politically sequestered the South West from Obasanjo. From what has transpired, the South South geo-political region should learn from this political trajectory and foster unity to gain national financial and economic relevance.
Half a word, is deed, enough for the wise.
