While there is a clearly identifiable oil production and exploration (E & P) ‘cartel’ constituted of mostly multinational corporations (with local clients) in the upstream sector of the Nigerian petroleum resources industry, such does not exist in the downstream sector relating to the distribution of fuel products. What causes fuel scarcity is the result of the actions and reactions of a ‘cabal’ of government officials and their clients in the private sector; such corporate clients are erroneously perceived as cartel members. Continue reading
When Sir James Goldsmith in his book, The Trap, predicted in the mid-1990s that the nation called Nigeria will disintegrate in a similar manner to how Yugoslavia did, many Nigerian intellectuals dismissed it but with tacit concerns. They and many more were far more certain of the, reality or illusion, that Nigeria’s oil wealth would hold the nation together with firm unity regardless of the internal strife, differences and cleavages encountered between various “interest groups” and “ethnic groups” as predicted most notably by Claude Ake. However, Ake did imply that the end of oil may be the end of Nigeria. With major changes in the international oil market are both Goldsmith and Ake correct in their predictions?
It is amazing to hear that the Nigerian National Petroleum Corporation’s refineries are to be sold due to inefficiency and under-performance problems if a self-set 30 day ultimatum is not met. This is the same NNPC that is supposed to be the only concrete evidence that President Muhammadu Buhari is doing a good job. Ibe Kachikwu, NNPC’s new General managing Director, is even portrayed as some Nigerian equivalent of Jack Welch, a great super-CEO. Yet, privatisation is the most possible solution to the refineries failing performance, especially when it comes to fuel provisions. The logic of governance is failing Nigeria’s management disastrously and common sense is appearing to be increasingly uncommon the higher one goes. Continue reading
Our Lands Must Bleed No More is an activist’s plea and determination to end the cumulative and inimical genocide of people of the Niger Delta in the name of “oil extraction” and “national income”. Nnimmo Bassey’s essay is a worthy effort in the remembrance of the “Umuechem Massacre” of the Etche people in Rivers State, Nigeria on the 31st October 1990. Continue reading
Nigeria’s problem is sincerely not policies and national planning solutions for the economy whether it witnesses endless oil production or the ‘end of oil’; that is far too easy. One can make a list of credible sounding policies or actually good solutions for the Nigerian economy depending on whether the problem solver, perhaps an economist, is a die-hard free-market advocate, a supporter of strong government intervention or is two-handed. Who will implement them? From my thorough academic research Nigeria scores 9/10 for resistance to policy introductions. Continue reading