Crude Oil: A Blessing Or A Curse?

Economics i'm told is the social science that analyzes the production, distribution and consumption of goods and services. I am a firm believer in getting round pegs in round holes and i certainly support getting technocrats to handle technical aspects of any project. I believe it saves time, energy and cost....maybe not always but most times. Nigeria is however a slightly more complex project, Economists abound and our Nigerian Universities churn out several of them annually. Mrs Ngozi Okonjo-Iweala is a seasoned Economist, i am told she graduated summa cum laude (meaning with the highest honors) from Harvard University and proceeded to MIT and has held even more seasoned positions in the IMF. I appreciate that she is probably one of Nigeria's best exports and maybe an authority in terms of global economics. Enter also, Mallam Sanusi Lamido Sanusi, an astute and career banker who also studied Economics from the Ahmadu Bello University Zaria. He also had his secondary education in my alma mater, Kings College Lagos, although during its glory days. Alot of us will be ever grateful to SLS for the banking reforms he kicked into motion in 2010 and 2011 that saw alot of pilfering bank executives face the slammers. Even if they are now roaming around scot free, we at least know how most of them amassed their wealth.

 I have introduced this bright Nigerian minds simply because they are key members of the Economic Management Team that finally approved and implemented the removal of fuel subsidy. A close examination of the two Economists and the different explanations they have tendered to Nigerians about the necessity of removing the subsidy is quite satisfying as far as i understand. However, what bothers me, is the fact that these Nigerians have diplomatically avoided the real issues that have sparked the continued protests all over Nigeria. Mrs Iweala insists that Nigeria will be too debt riddled in another 5years and may not be able to sustain its economy and has consistently made examples of European countries like Greece where there has been a total collapse of the economy. I agree with her that borrowing for consumption over and over many years without improving production will eventually leave any system bankrupt. I don't need to graduate egregia cum laude to understand the dynamics of lending, spending and borrowing. We all know by now that President Jonathan has become probably the most unpopular president the country ever had as evidenced by the amount of public outcry and the stalemate reached with labour on the issue of fuel subsidy. NOI persistently defends the removal of subsidy and insists its the best way forward. She is the Finance Minister and she knows how much Nigeria spends on the fat cows in the Executive and Legislative arms of Government. We understand our senators earn N245M annually  and there are over a hundred of them, not counting the even more populous House of Representatives. We also understand our President has 9 airplanes in his Presidential fleet and just approved money for another, while Mr James Cameron, the Prime Minister of England flies British Airways and does not have the luxury of a personal carrier, even Mr Barak Obama has just 2 aircraft servicing his office...this is the supposed Most Powerful Man in the world. Please note that these aircraft will fly on aviation fuel which Nigerians will pay for. We also understand that while Mr Cameron has 2 official vehicles, Mr Jonathan has at least 23! Incredible isn't it?

 Mr Sanusi made more sense when he tried to explain the fraud called fuel subsidy and again i understand and appreciate his point of view on the topic. He made example of Iran, a country where fuel is also not subsidized but the government does direct cash crediting of its citizenry and has advocated for such a scheme here in Nigeria in place of subsidy paid to the oil and gas players. He insists the 'cabal' continue to benefit greatly from the subsidy and continue to feed the monster called corruption in the oil and gas sector. I have a lot of respect for Mr Sanusi but i believe it was Mr Ron Paul who said 'when one gets in bed with government, one must expect the diseases it spreads'. SLS is currently putting himself in the eye of the storm and risks soiling his hitherto good name in the dirt called Nigerian Government. I hate that there is a cabal that seems too mighty and too rich and too deeply rooted for us to fight as a people and i hate it more that men of integrity like SLS cannot categorically take a stand against this cabal. We know who these people are, if not all, at least we know some. The saddest part of SLS and NOI's defence of the need to remove subsidy is that both of them have methodically and meticulously avoided exploring any other options of cutting costs and have insistently pointed at fuel subsidy. WHY? I want to remind us that NOI graduated from Harvard and MIT, how many civil servants in Nigeria now can afford to send their wards to such ivy league schools? SLS is a direct descendant of the Emir of Kano and his father was a top government official in the old Northern Region. Believe it or not these two people were born with silver spoons, whether they choose to accept it or not.

 They insist that we can save 1trillion naira from subsidy and they will not explore any other avenue of cutting costs and guarantee the continued existence of the entity called Nigeria. I am not a seasoned Economist but i know as a civil servant that when i am broke and the calender reads 10th of the month and i know pay day is still a few weeks away, i know i must reduce my expenses. How? I do not need to call SLS to ask if i should reduce the number of outings i go to save petrol or ping NOI to ask if i should eat at Mama Put instead of a 3 course cuisine at Oriental Hotel?(Not that i eat there anyway). It is simply common sense! The government seems to be intentionally myopic and will not hear of any other options but to jack up fuel prices. GEJ got on national television and said 'he feels the pain of Nigerian masses'....how dare him? For a man who reports say has not used his own money to buy petrol in Nigeria since 1996 when he became an NDDC board member. He also says 'if he was in our SHOES, he'll react the same way'. The SHOE matter comes up again, Ebele,my friend, you have mentioned shoes again. Is there anything with you and shoes? This statement shows us now that really, you now have shoes! My President also said he has ordered for 1600 buses for 160 million Nigerians....how incredibly smart of him! I hope these buses will pick each person up from his doorstep and drop him off at his destination. He also generously decided to pay our salaries by the 20th of every month....i honestly still don't understand what that is supposed to achieve but i want to assume i am the one who has poor mentation and comprehension. He finally said he has ordered a 25% paycut in the BASIC salary of government officials and a reduction to the barest minimum of foreign trips. Ironically, Mr Jonathan was at a gala in South Africa to celebrate with South Africans, who are currently not trooping out in the streets...how sensitive!

 Mahatma Gandhi said 'I will not let anyone walk through my mind with dirty feet'. Nigerians must not let technocrats like NOI and SLS bamboozle us with figures and statistics. In as much as we know that our 'very brave' President is not likely to help us fight this cabal, we demand that he steps up and actually BE a Commander-In-Chief. The man has the entire Armed Forces at his disposal yet we are shackled by a group of sharks termed the 'Cabal'. Is this an Italian movie flick? Does it mean that the some Nigerians are above the Nigerian Law? Be a man Sir...Nigeria cannot be ruled with kid gloves, step on toes, bite some fingers, show Nigerians you have the guts to fight for them and see if any protests will follow your subsidy removal. Nigerians are emotionally battered and physically bruised people, we have had our minds continually, mercilessly and persistently raped by consecutive governments. For once, be a Hero Sir, show us you are an Otueke fisherman's son! GEJ has however started fidgeting, he yesterday approved a pay rise for the Armed Forces and offered to pay 4 months arrears. Fear that is palpable does not need any explanation. He is afraid of a military uprising and possible takeover and has attempted to 'bribe' them into not considering a takeover. In all this crisis, i'm sure one thing is quite clear to alot of on looking Nigerians, it is clear that Ebele Jonathan has hilariously imbecilic advisers. The timing of his decisions shows his mind's view and perspective of issues is quite narrow and myopic. He needs to sit down and ask himself very pressing questions and ask for divine help in retracing his steps because believe me, he has really missed his way. In the last 48hours, he has entered the record books as the most insulted leader Nigeria has ever had, he has not helped his cause anyway, his gun totting cretins called policemen have gone ahead to open fire on peaceful protesters. They have left a trail of blood and bones for GEJ to explain. He has declared states of emergency in a few northern states, but i hope his daft advisers have informed him that the Occupy Nigeria protests are gathering momentum and he might need to deploy more troops to quench the uprising. To NOI and SLS, i say leave us alone, let us be broke in 5years, maybe then and only then will politicians leave us to rule ourselves for the love of humanity and social justice and not for gross larceny. Maybe that is the point we need to reach in order to get rid of these callous fellows, when the government is broke, they'll dump it and walk away....we the masses are used to the suffering, we are already providing light, security, water and other amenities for ourselves, we have nothing to lose. It's the politicians who sit around to discuss gay marriages and the national anthem sang in tenor and earn 450M annually for such 'intelligent' debates that will feel the brunt of the economic collapse.

 Now, to solutions that do not require raising the cost of a sachet of pure water to 10naira and transport fares by 100%....Can we sell off 8 of our 9 presidential jets and leave GEJ with one airplane to globetrott? Even with 1 airplane, he is still the envy of Mr David Cameron, who still has to fly with the National Carrier. Can we stop allowances and grants to our senators and legislators? Can we start to pay them the same salary as stipulated by the Federal Civil Service for Level 17 officers? Can we reduce the President's gluttonous appetite by reducing his feeding allowance to about a hundredth of the 1 billion naira he wants to spend in 2012? Should we even feed him since we are paying him salary already? I am a civil servant and nobody pays me 'feeding allowance' after the salary i get every 30days. Can we stop frivolous allowances for furniture, cars, travel, food, newspapers, gardening, and the likes we pay monthly? Can we have fewer ministers and special advisers and aides? What is the function of a Minister and a Minister of State in the same Ministry that has Driectors and Perm Secs. The States already have their own Commissioners anyway. Can we ask the EFCC and the Military to round up the 'Cabal'...we know them even if they are wealthy. They own oil blocks, oil vessels and distribution chains. Can we seize some of these assets and render them abit less powerful? they are not spirits, they are Otedola, Dangote, Jimoh Ibrahim, Dantata, Adenuga, Atiku and several others. Let's even start with one person and see if the others won't flee when they see the seriousness with which we are dealing with their like. I am not an Economist but i have a feeling we'll find a few billions of naira and dollars lying around somewhere to execute capital projects that really benefit the people. We haven't reached the point where we need techincal know-how of macroeconomical indices and dynamics of NOI and SLS, when that point comes, we'll summon them.

'Experience has shown, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny'- Thomas Jefferson. Goodluck Jonathan has said he will risk civil unrest to ensure his policy sails, he has allowed extreme dullards called policeman take the lives of innocent protesting Nigerians who he solicited votes from. He has taken the lives of people whom he promised 'fresh air', now their lungs are filled with everything but fresh air....seems more like tear gas from what i observe. Tyrants are not born, they are made! We have one in the making now, he's a Christian and he wears bowler hats! Thank you to all the discerning and insightful men of God that anointed him for this position.

 Finally, Ebele, you probably didn't study a lot of History while in the department of Zoology at the University of Port Harcourt but i advice you to go back and read history from the time of Alexander the Great to most recently Hosni Mubarak, Laurent Gbagbo and Muammar Gahddafi....it'll show a recurring decimal!

Vox Populi...Vox Dei

#OccupyNigeria!