SALE OF OIL BLOCKS IS ENOUGH TO FIX OUR ELECTRIC POWER GENERATION PROBLEM!!! The number one problem of Nigeria is corruption, number two problem is corruption, and number three problem is corruption! We need someone who will be courageous enough as a leader to honestly and sincerely fight corruption, and to install the system that will get rid or minimize corruption, in our polity, public service, judiciary, legislature, and make Nigeria a better country to live in. One top retired military officer disclosed a few years ago that he sold one oil block allocated to him for US$1 billion. That after spending half of the booty, he didnt know what to do with the remainder which was US$500 million! The questions are: (1) What are the criteria for allocating oil blocks? (2) How much is the cost of each oil block? (3) If the oil blocks belong to all Nigerians, Why should the allocation not pass credibility and transparency test? (4) Why hasnt National Assembly ensured that due process is installed in the allocation of oil blocks? I quote below part of the content of a write up by a patriotic Nigerian, Obinna Akukwe, on the shoddy way and manner that the oil blocks were, and possibly are still being shared in Nigeria :- The process of sharing Nigeria’s oil block national cake is as fraudulent now as when the military 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. Successive military administrations 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.
Posted on: Tue, 08 Jul 2014 12:27:26 +0000