There is unconfirmed news that Chevron oil, operating in the down stream oil sector of Nigeria wants to off-load 60% stake of its company and have been meeting with Oando, Dangote, banks and others. This has come as no surprise at all, especially with all the disruptions in the Niger Delta. The west is beginning to realise that power and wealth must now be handed over to its owners, or maybe it is just a strategy, get Nigerians to deal with their own problems and just come back 10years down the line and offer the share holders some crazy money to buy them out. In the meantime, the issues with the local communities have been resolved. Or maybe, the issues in the Niger Delta is not doing their “global corporate responsibility” any favours and they will rather save the face of their company, shareholders and customers, of which very little is Africa anyway. Of course, one would have to question how these “Nigerian Investors” are acquiring the wealth to buy such investment. Do we question Zenith and the rest of the banks, who keep diluting their shares and going to the market to raise funds and using it to finance massive investments, which in the long run only benefit the 10% of the population… mega rich boys, “government contractors” etc… there is very little that gets to small businesses and drive the middle class? Or it is Dangote, who completely dominated sugar, salt and flour import for many years and when he had enough money, set up his own manufacturing companies in Nigeria, of which is his the only major player.
I question the many government policies and strategies that tend to drive the “rich getting rich agenda”, instead of reducing the gap between the rich and the poor. The social economic issues that will arise from the syndrome of the ever increasing divide between the rich and the poor will be the legacy of this generation. In 100 years from now, our children’s children will be dealing with the divide. The government seem to be driving a very elitist society, with poor policing, education, housing, roads, etc; but increasing driving “mega private investment”, which only “foreigners” or “mega rich Nigerian” are the only participants. Both come hand in hand, but I doubt if anyone is noticing. I said it now and many will say it later
“The future is bright, the future is palava”
Ibori and Lucky are on bail, anyone surprise? Maybe not, naija for show if you ask me, let the madness roll on.
APP party don’t want the immunity of government personnels removed ‘cos of lawsuits from people. If non-government personnels can not be prosecuted what chance is there for serving government personnels to be prosecuted? What happened to the Ministers involved in the Ericsson saga? Wey Fela Anikulapo kuti, make he talk some sense, make person hear jare or Is it Idris “Everything for naija na jaga jaga”
I will be updating on the feminist conference shortly.
I question the many government policies and strategies that tend to drive the “rich getting rich agenda”, instead of reducing the gap between the rich and the poor. The social economic issues that will arise from the syndrome of the ever increasing divide between the rich and the poor will be the legacy of this generation. In 100 years from now, our children’s children will be dealing with the divide. The government seem to be driving a very elitist society, with poor policing, education, housing, roads, etc; but increasing driving “mega private investment”, which only “foreigners” or “mega rich Nigerian” are the only participants. Both come hand in hand, but I doubt if anyone is noticing. I said it now and many will say it later
“The future is bright, the future is palava”
Ibori and Lucky are on bail, anyone surprise? Maybe not, naija for show if you ask me, let the madness roll on.
APP party don’t want the immunity of government personnels removed ‘cos of lawsuits from people. If non-government personnels can not be prosecuted what chance is there for serving government personnels to be prosecuted? What happened to the Ministers involved in the Ericsson saga? Wey Fela Anikulapo kuti, make he talk some sense, make person hear jare or Is it Idris “Everything for naija na jaga jaga”
I will be updating on the feminist conference shortly.
3 comments:
I think you misunderstand the Dangote story. Yes the gentleman is close to govt but some of your info is inaccurate.
a) Dangote never dominated flour imports. Dangote just got into flour after 2000 & it was in Industry. Flour in Nigeria was dominated by Honeywell, Flour Mills of Nigeria, Standard Flour Mills etc etc.
b)He was not also a major importer of salt. His major imports have always been RICE,CEMENT and SUGAR
I am a consultant to the IFC and most of Dangote's manufacturing projects are actually funded by the IFC.
Hello,
I take your comments on board.
Your blog keeps getting better and better! Your older articles are not as good as newer ones you have a lot more creativity and originality now keep it up!
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