I'm happy to see that we are asking questions about FDI today. I wanted to see if you can go a level further and really debate what it is. I have my own stance and it will of course influence this post, but I welcome differing views.

I'm going to start with this. Colonialism was not a government project. It was first and foremost a corporate/private affair. In the beginning, you had companies like the the VOS - most successful company of all time, the Royal Niger Company, British East India Company etc. These companies sent up trade networks with locals all over the world to acquire slaves, and raw materials. As their influence and power grew, they invited their home governments to come and consolidate their power.

To make it official, and to make sure that local interests don't get in the way of their enterprise. For example, the Royal Niger Company operated in Southern Nigeria well before the coming of the British. The established various trade deals with local strongmen, and in the beginning, the foreign investment looked great. They invited the church which invited schools and modern medicine, and they gave individuals jobs.

Then things started happening. The trade deals went from two sided (both african and european usually exploiters of the locals), to one side very quickly. Local protested the exploitation, the British government was invited to kill the protesters or enforce military rule to continue the company's trade, which had now become exploitation.

So instead of paying the people for their labor, there came mandatory physical labor. Instead of buying european clothes because they were fashionable, bans of african clothes unless they were european made. Instead of trading for things like palm, communities were given quotas by law of palm they had to produce for the company.

As time went the locals realized these companies, and the british government enforcing their hold were not here for their their benefit. Yes they were building roads, but it was just enough road to get Northern goods to Europe, and hence why our road system is as poorly planned as it is. Yes they built schools, but the schools taught just enough to individuals to admire european products and buy them, and hence our education system.

gradually people like Nnamdi Azikiwe, Herbert Macaulay, Obafemi Awolowo, and others began questioning if these relationships were mutual or exploitative. If the coming of these new companies were making people richer, or giving people just enough money for them to need to return the next morning for more. Is the company exploiting coal in Enugu making Enugu richer? or are it's profits banked in Europe? Is the company exploiting Cocoa in Ibadan making Ibadan richer, or is it banking it's cocoa in Europe? Is the company getting next to free northern cotton and soldier labor making these people and the environment richer, or is it banking the money in Europe.


If Shoprite comes to Nigeria. And Shoprite makes N13 billion in one year (hypothetical), should we celebrate that it ALSO created 500 jobs? If paying the combined salaries of all 500 people won't be 10% of that money taken out of the Nigerian economy and back to South Africa.

I have lived in the United States all of my life. I have never once, under bad economic circumstances, seen a government celebrate that it invited 'Foreign Direct Investment'. And if you look at the media in Europe, the coming investments from China and middle eastern barons is treated with suspicion and resistance rather than celebration.

If MTN takes N70 billion out of Nigeria every year, what is replenishing that money? Do we have a company in SA that's able to make that type of money and bring it back to Nigerian banks? The colonial example I presented may seem extreme but what is happening today?

Shell Oil controls the Nigerian government. It is a well known fact. If Nigeria tries to tax or audit Shell, know that the president in power will not return for a second term. If Nigeria tries to get more than the 10-15% we make from their earnings, know that we will be sanctioned internationally, and if you understand this you will understand Nigeria's affairs a lot better. We are the only country in the world where an oil company reports it's own earnings and we tax based on that report. This company has destroyed the most mineral-prosperous region in the country with recourse and continues. And will be defended by the people it kills because 'it gives jobs'.


There's only X amount of money in this country. With all of these leakages and all of the governments they use to keep the holes open, I think it's time for another generation of Macaulays and Azikiwes to question this relationship and passion that ONLY africans have for 'foreign direct investment'.

What accounted for this?

You lived in USA all your life

Sammy07:
You lived in USA all your life

I think that qualifies me to speak on world affairs better than someone who's school system was built by someone that was chaining him and selling him in the high seas.


Did you know that every country in the world is forced, by the US to use the US dollar as their international trading currency. No matter where the money goes, it is controlled by the United State of America. If China acts up, the US can turn of the faucet for them. If the UK or Russia act up, the US can turn it off. That the US is not a house with light, but the NEPA of the world's economic system?

So yes, a LOT of foreigners invest in the US. More than any country in the world. But the US has leverage.
What about you?

If Abacha refuses to accept the Structural Adjustment Plan to devalue the Naira to make sure the UK and US can get next to free oil from Nigeria, even though it will end the Nigerian middle class of that era, can we stop the US and UK from backing Babangida's overthrow of him and acceptance of the policy? The oil Abacha used as leverage against Apartied SA.... why has no Nigerian president since been able to do the same? Do we control that resource today the way we controlled with then the dollar about Naira were trading at $1 = $12?

One of the issues in explaining this is, as Africans, we for some reason do not understand the world is in a do-or-die competition of nations. To us 'development' is having nice buildings. Not the prevention of others from taking what's ours, killing us, exploiting us, or ensuring we have no actual access to our own money and affairs.

This level of being off guard and aloof is why Wikileaks stated that there's no need to spy on Nigeria, they will tell you anything you ask them. Why do all nations have secrets they will take to the grave for the sake of their safety and prosperity? Why do other nations develop well funded highly advanced spy agencies to crack these secrets? Why do Nigerians freely give this same information to others?

We want to say 'corruption' is our problem because it's easy to hate a thief. It doesn't take thought. Anything else will take a depressing amount of thought and we're not ready for that.

All nations are trying to kill each other. If they don't kill the other, they will be killed. We have adjusted to being dead so I understand this not making sense but the idea of celebrating others buying up your country or strategic assets is only done in Africa because we don't understand what is happening over our heads.

OruExpress:

I think that qualifies me to speak on world affairs better than someone who's school system was built by someone that was chaining him and selling him in the high seas.

Safe yourself the epistle because you didn't read what I posted up there.

Sammy07:


Safe yourself the epistle because you didn't read what I posted up there.

epistle. You can really tell who taught Nigerians English.

OruExpress:


epistle. You can really tell who taught Nigerians English.

U’en ajo egbe’on odon, ugbe’se kan ghen mu be’e i.

The language up there is my mama language.

British colonized US.
Yet they ain't using their English

OruExpress:
So instead of paying the people for their labor, there came mandatory physical labor. Instead of buying european clothes because they were fashionable, bans of african clothes were brought in learning no choice, unless it was european made african fabrics. Instead of trading for things like palm, communities were given quotas by law of palm they had to produce for the company.

As time went the locals realized these companies, and the british government enforcing their hold were not here for their their benefit. Yes they were building roads, but it was just enough road to get Northern goods to Europe, and hence why our road system is as poorly planned as it is. Yes they built schools, but the schools taught just enough to individuals to admire european products and buy them, and hence our education system.

gradually people like Nnamdi Azikiwe, Herbert Macaulay, Obafemi Awolowo, and others began questioning if these relationships were mutual or exploitative. If the coming of these new companies were making people richer, or giving people just enough money for them to need to return the next morning for more. Is the company exploiting coal in Enugu making Enugu richer? or are it's profits banked in Europe? Is the company exploiting Cocoa in Ibadan making Ibadan richer, or is it banking it's cocoa in Europe? Is the company getting next to free northern cotton and soldier labor making these people and the environment richer, or is it banking the money in Europe.


If Shoprite comes to Nigeria. And Shoprite makes N13 billion in one year (hypothetical), should we celebrate that it ALSO created 500 jobs? If paying the combined salaries of all 500 people won't be 10% of that money taken out of the Nigerian economy and back to South Africa.

You're 100% right!!!!
That's what the shallow thinkers don't know.

Sammy07:


U’en ajo egbe’on odon, ugbe’se kan ghen mu be’e i.

The language up there is my mama language.

British colonized US.
Yet they ain't using their English

I'm referring to how many biblical and church references are in nigerian english. It's not a big deal but it gets annoying because anyone saying anything is doing an 'epistle' and 'lamenting' etc.

lalasticlala. this topic deserves front page.

One member here told me I could explain the exploitation of Africa until I was black, blue and red in the face, it will not stop slaves from selling gold for mirrors.

Today, it will not stop us selling, human and natural resources for pittance and plastics.

Structural Adjustment and Devaluations returned us to the Slavery worse than ever. It reduced Zimbabwe money to less than toilet paper.

Why do you think they abolished Gold Standard? To reduce Gold Coast, Ivory Coast, Diamond coast from West Africa to South Africa.

Who is celebrating VANITIES made outside Africans? AFRICANS!

Until our last breath, those who know and understand must not stop. These young generation do not have Slavery taught in schools and even if they do, they do not believe it.

Their life savings and talents is used to enter Slave ships, Slave 707 planes, or cross the desert and sea into Slave Plantations.

If our most talented Engineering graduates cannot wait to Japa why blame self entitled physicians sent back from Airport or the poorest of us crossing the desert and sea.

Raise your voices but expect them to blast you.

Oru Express, you should not have left MKRUMAH out of these.