Chronicles

Without crude oil price rising, Buhari has no other instant choice…

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I wrote one piece in November 8 2015 titled “I pity Buhari” refer;  http://ewolewoo.com/pity-buhari/ , I was very clear about the expectations of Nigerians despite the obvious fact that there is continuous dwindling of crude oil revenue. What many want is simple; He(Buhari) must perform whether he has money or not. I predicted that there would be issues because of the unrealistic expectations.  He(Buhari) has found himself in the midst of the wahala.

 

I have read all the propositions of everyone attacking the economic policy of the government, however I have not seen anything in concrete detail on how to get money outside crude oil. When I mean how to get money, I am talking about instant injection of money into the system the way crude oil has been giving to us for decades.  I haven’t seen any, however what I have seen are hate-filled write-ups gloating about perceived failures. Who would succeed with little money in the midst of overwhelming problems? Tell me?

 

Crude oil money is instant money.  This is what has fuelled our “gluttonous tendencies” for as long as I can remember. It is easy money. It has brought us into doing stuffs beyond our capabilities. We have been totally consumed with the money from oil and gas. I find it funny that with the crash of the oil price, Nigerians still believe that we have plenty ways to manoeuvre. How? I don’t know. Please read this earlier post in February 2016: http://ewolewoo.com/crises-called-oil-price-drop/ I will also implore you to read another post of July 2015: http://ewolewoo.com/oil-price-drop-corruption-joblessness-god-trust-o/

 

I have so much written about PHCN to the point of saturation. I have correctly, and sadly too, predicted that the current structure of the power distribution system business as initially created cannot work and would never work. I have told anyone that cared to listen that the DISCOs were created to be ‘helped’ by the government. Infact Jonathan was ‘subsidising’ them in their business of power distribution. These are private companies remember. With the downturn in crude oil price, the government couldn’t do so anymore. Unless government can find a way to “help” or subsidize these DISCOs, I don’t see anyway out o.  You can read more http://ewolewoo.com/phcndiscos-sharks-dragons-prowl/

 

NNPC is a lost case. It is either Buhari fights NUPENG and PENGASSAN people in NNPC or he just allows the firm to continue the ripping of Nigeria. There is no other option in this case. Petroleum scarcity would always be the other of the day unless NNPC is scrapped as it were. NNPC as presently constituted with the individuals in the organization cannot work for anything good for Nigerians. We wouldn’t have felt this so much pain if the crude oil price hasn’t gone down. NNPC cannot and will not do much for this country as it were. The individuals in the organization (especially in the middle and Top echelon) believe that Nigeria oil and the money there-off  is for them and not for Nigerians. With that orientation what else do you want?

 

There’s confusion in government, I agree. However, there would be confusion if the income being expected by you comes in very short of expectations. However, the expenditure is still expected to be far higher than initially thought. You can speak all the grammar that you want. Let me tell you, there is nothing that can be done if the crude oil price remains flat as it were while the expected re-recurrent expenditure is still as it is seen. This is no rocket science.

To make matters worse, Nigerians don’t want the people that “duped” them to be punished. Once a man is accused of stealing billions, Many Nigerians would come to his defence yet the same Nigerians want a better country. I don’t get it. In the same vein, You’ve got a judiciary that I will call kobo-kobo judiciary. You only need to be very rich and willing to spend the money, with that, “rule of law” works for you. Saraki is using that logic to the fullest.

Without crude oil Price moving up significantly there will be more confusion. Nigeria of today is built on crude oil and nothing more. It is disingenuous for many people to want to shy away for that.

However, Buhari is expected to manufacture money from anywhere…Please!!

 

About the author / 

Ik Uremeh

Ik uremeh is a social commentator who believes that everyone deserves to live within the confines of his strengths. He is just like YOU.He says: Life is good when everyone desires so...

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