It is not news to any observer that a major resource of the Niger-delta region of Nigeria is crude oil and gas. The Federal government has been in the forefront of investments in the industry through the instrumentality of Joint venture partnership with multi-national oil majors Shell, Mobil, Total , Chevron etc.
The centrality of oil to the economy of the region cannot be over-emphasized, also with lots of pain and by design major installations for processing oil and gas is located in the region. It plays host to 3 of the four refineries located in Nigeria, most of the countries petrochemical capabilities LDPE, HDPE plastics and carbon black for ink making, fertilzer plants, LNG plant and many gas fired power plants.
Most of these facilities were constrycted over the 50 years before the present admistration.

With the coming of the president in 2010 and who happens to be an indigene of one of the tribes of the Niger-Delta, one would expect that naturally he understands the problems and challenges of people living in this region. If past governments headed by people from outside the region built the few plants listed above, one would not be out of place to expect a leader originating from the niger-delta to go in overdrive to monetize and add value to the precious resources of the region rather than let the gas flaring and export of unprocessed crude be the order of the day. No matter how small any new plant will give something back to the community in terms of employment during construction, supply of services to workers, and employment during operations and by-products that can spawn further industries nearby.

But guess what, not a single value adding facility has been proposed by this so-called son of the soil. The Brass LNG to be located in his own state Bayelsa, whose Basic design had been completed since 2005 and would help reduce gas flaring and attendant health issues of his fellow indigenes was not considered a worthy project to be pursued and remains abandoned. The 7th train of NLNG bonny with Basic design completed since 2007 to increase capacity and generate more revenue and reduce flaring and wasting more gas is also abandoned.

In over 5 years the son-of the soil could not cause refineries to be established with unprecedented huge revenue with oil at up to $140 at times. Some may say government should not be in business but the question should be how are other 3rd world countries like Saudi, UAE, Iran, India and China able to run public entities successfully that Nigerians are so daft and in cable of. Have we resigned to perpetual failure and have no ideas on how to surmount the corruption that pervades our society and choking us to death? South Korea did not entirely wait for foreign investors to jump start it's economy as the government invested in heavy industries and later sold them to consortium of businessmen who can't raise the start-up cash as individuals. The moral is there is always a way when there is a will.

The question now is where was the revenue earned in this period invested since we have established no note worthy industrial facility in the class of those built by previous government was done by this government? In the midst of this allegations fly that $20 Bn or $10 Bn could not be accounted for and we have an idea where the money went. No major new highway in the class of Lagos-Ibadan expressway was constructed, granted the Abuja-Kaduna railway started by previous government and under construction is still continuing, and some new universities were established but what is the real cost of these compared to the accruing revenue in the same period.

If all we can point to as achievement by this government is inferior or at best not any different to many previous administrations on what basis is the claim that this is the best we have ever had?

Maybe he will think about the region after 2015, but for now it is not important

the refineries are not working because of quota system management.
ALSCON of yesterday has closed shop because of quota system management.
Do you guys remember ALSCON?
how people ran from Ajaokuta, DSC, some people even came from abroad to work in ALSCON!
How are they working now?


It is only an insane person that will continue to do the same thing and expect a different result!
I hope Mahdi Buhari is not coming to build new refineries?

The worst president in the history of Nigeria

Goodluck Jonathan also fail to clean up Niger Delta Region that has been protesting the environmental impact of Oil Exploration in the Region. Even King Jaja and Saro Wiwa will be rolling in their graves because Jonathan abandoned the region and concentrated on Looting.

But they say he is our Gandhi, Mandela, Luther King Jr., Obama all rolled into one and the greatest thing to happen to Nigeria since slice bread

egift:
Goodluck Jonathan also fail to clean up Niger Delta Region that has been protesting the environmental impact of Oil Exploration in the Region. Even King Jaja and Saro Wiwa will be rolling in their graves because Jonathan abandoned the region and concentrated on Looting.

No he did more he has empowered militants and abandoned law abiding citizens of the Niger-delta who now have evidence that violence and stealing pays off better than any other approach. Now the militants threaten ordinary citizens and even the president. The keyamo and Jonathan/Delta EPZ fiasco is a case in point.

This failure must be booted out today!

GEJ is the best.
government has no business with business.

tit:
GEJ is the best.
government has no business with business.

Where is the money he didn't invest in business ventures? in the pocket of GEJ and the private jet club, now we know how he financed his $500 million farm
Chinese and Indian government invest in industry as well as encourage private enterprise at the same time, the only difference is low level of corruption that's why we need integrity in leadership. South Korea followed the same route and later sold most to private investors, see where they are now, the journey that took America/Europe 200 years took these Asian countries 50 years and you latch on to the IMF long route.

Even in South Africa Eskom producing almost 50,000 MW of power is government owned let them keep deceiving you and pocketing your future

Absolute balderdash

Govt have nothing to do with oil and gas installation.
Govt only have to put the right environment and policies in place for private sector participation.

With the wrong structure on which Nigeria stands today, quota system will never allow any govt investment function optimally.

Until we go back to the regional system of govt, we would only be fooling ourselves.

And if he is only interested in the blood of dogs and baboons, he is better off in the forests of Daura and not Asorock.

building a refinery is considered to be too expensive as it would cost them the opportunity to have enough money too loot. lol

Flets:
Absolute balderdash

Govt have nothing to do with oil and gas installation.
Govt only have to put the right environment and policies in place for private sector participation.

With the wrong structure on which Nigeria stands today, quota system will never allow any govt investment function optimally.

Until we go back to the regional system of govt, we would only be fooling ourselves.

And if he is only interested in the blood of dogs and baboons, he is better off in the forests of Daura and not Asorock.

That is the modern day lie they sold to you to keep you in penury, come to the middle east the government are investing heavily in crude oil processing into plastics, drugs chemicals and training their citizens to operate these facilities. Saudi is investing $300 Billion into a major petrochemical complex to add value to crude oil since they have a mission. They can't afford to wait for market forces evolution to acheive there objectives. Where will Nigerian investors raise $100 Billion to invest in a venture except the government comes in?

Most south Korean Chaebols Heavy industries (Daewoo, Hyundai, Samsung) you know today had heavy government input before it was fully privatized. Nigeria is very far from the level that the government can hands off and expect a miracle to happen. We will simply become a dumping ground for other people's ingenuity.

China is today giving us loans to build infrastructure with the condition that Chinese construction firms do the job, you think they are foolish? they are gradually degrading our local competence while improving their's using us as training ground.

Siddon their they parrot government has no business in business as our competitiveness declines at fast rate