If you were to personally ask President Muhammadu Buhari what the most successful thing a person could achieve in Nigeria was and he is candid with you, he will tell you to seize power (through coup d’ états or general elections) or amass riches (through grand corruption). Power and wealth for their sake will always breed corruption, and that is mainly why the president himself is not exempt. We all know that, but some emphatically deny it. The Panama Papers scandal involving tax evasion and money laundering cases in off-shore havens shook many international heavyweights in the civilised world but not Nigeria. Buhari’s administration has rendered big thieving Nigerian politicians and quasi-businessmen completely “Panama-proof”.
The GON is getting very tough at the “tail end” of the oil sector by punishing retailers of petroleum fuel for “hoarding” like they have “weak oil bunkerers”. Meanwhile, the executive cabinet of GON is staffed by hoarders of billions of dollars’ (in cash and assets) of “oil wealth”. This is the latest showing of “no-nonsense anticorruption” at its most trifling in Nigeria. Yes, the landlord chasing rats in the living room while his house is fully on fire? This ‘catching the serpent by the tail’ solution is a dangerous staple approach adopted by the current GON. Read More “Fuel Hoarding and Governance Failure”