The Minister of Information and Communications, Dora Akunyili, yesterday got more than she bargained for when Enerique Fernando Arrundell, the Venezuelan Ambassador to Nigeria, used the opportunity of his visit to her office to tell Nigerians some hard lessons on how to manage, develop and utilize their God-given natural resources for the benefit and good of all.

The envoy, who was responding to an appeal by Mrs. Akunyili to help woo some of his country’s investors to come in and establish refineries under the federal government's planned deregulation of the downstream sector of the nation's petroleum industry, advised Nigeria to rather look inwards and to take full control of the industry.

Though, he acknowledged Venezuela as a prominent member of the Organization of the Petroleum Exporting Countries (OPEC) like Nigeria, he said his country will be willing to collaborate with the federal government to develop the industry.

The hard truth

[b]Mr. Arrundell said, “In Venezuela, since 1999, we’ve never had a raise in fuel price. We only pay $1.02 to fill the tank. What I pay for with N12,000 here (Nigeria), in Venezuela I’ll pay N400. What is happening is simple. Our President (Hugo Chavez) decided one day to control the industry, because it belongs to the Venezuelans. If you don’t control the industry, your development will be in the hands of the foreigners.

You have to have your own country. The oil is your country’s. Sorry I am telling you this. I am giving you the experience of Venezuela. We have 12 refineries in the United States, 18,000 gas stations in the West Coast. All we are doing is in the hands of the Venezuelans.”

The envoy said, “Before 1999, we had three or four foreign companies working with us. That time they were taking 80 per cent, and giving us 20. Now, we have 90 per cent, and giving them 10. But now, we have 22 countries working with us in that condition.

It is the Venezuelan condition. You know why? It is because 60 per cent of the income goes to social programmes. That’s why we have 22,000 medical doctors assisting the people in the community. The people don’t go to the hospital; doctors go to their houses. This is because the money is handled by the Venezuelans. How come Nigeria that has more technical manpower than Venezuela, with 150 million people, and very intellectual people all around, not been able to get it right? The question is: If you are not handling your resources, how are you going to handle the country?

“So, it is important that Nigeria takes control of her resources. We have no illiterate people. We have over 17 new universities totally free. I graduated from the university without paying one cent, and take three meals every day, because we have the resources. We want the resources of the Nigerian people for the Nigerians. It is enough! It is enough, Minister!”[/b]

Government’s plea

Earlier, Mrs. Akunyili thanked the Ambassador for his visit, saying it is a demonstration of his love for the African continent, pointing out that there has always been some level of bilateral trade between the two countries, though very skeletal, as a result of the low awareness of the latent potential of Nigeria as an investor’s goldmine.

Drawing attention to the huge potential in the nation’s telecommunications sector, which is being exploited optimally by South African investors, the Minister noted: “There has been trade between the two countries actually, but we do not have many Venezuelans setting up manufacturing outfits in Nigeria. I want you to use your good office to send a message across to your people that Nigeria is a goldmine for genuine investors. We want them to come invest just as other investors are doing in the telecoms sector.”

She gave the assurance that government will give them the full cooperation, adding that President Yar’Adua’s administration is working hard to ensure that the country’s economy is taken to the next level through the initiative of the seven-point agenda and Vision 20-2020, designed to make Nigeria one of the largest economies of the world by the year 2020.

http://234next.com/csp/cms/sites/Next/Money/Business/5485512-146/story.csp

some very hard home truth that but sadly they never listen,

Naija no go hear word.

Mineral resources are not for privatisation. They are free. Gods gift to the country. Let the country manage it and take the profits.

Of all the countries that make up OPEC, 9JA is the only exception.
A country whr her oil is a curse, rather than a blessing.

Embarrassing.

This is so sad. So a diplomat was so pissed off, he had to let it all out without mincing words, I wish govt officials could see themselves the way others see them.

Venezuala has a good 18 refineries in the US alone! And to think that Nigeria's crude is the highest quality in the World.
Here for donkey years, we've had Delta Steel, Ajaokuta steel and a thousand and one research institutes. Yet we can't even service the oil industry without importing, no one makes drills etc. Its just terrible.

Talking about our refineries, "subsidies" etc is just going to take it too far.

Nigerian govt is tooo scared to conrol its resources, as many coupe plots as the US/UK has planned against venezuela for oil they have balls that naija doesnt have.

d resources are being consumed by u know who!