Thieves

To be honest, this rentier 'capitalism' has got to stop. It is extremely damaging to the country, and has held us back from meaningful economic growth and development.

That is why it is hard to take most of these oil industry 'moguls' (including useless parasites like Folorunsho Alakija) seriously. It is extremely offensive to see these leeches prancing about and purporting to be exemplars of African business success. What business? Nowhere else in the world does government hand OPLs and OMLs to fools who in turn hand over the same assets to "foreign technical partners" or Oil Majors, and then sit back on their flabby asses to collect millions of dollars in rent daily, weekly or monthly as the case may be. The millions and billions of dollars milked by these parasitic rentiers would go a long way to help address our developmental challenges as a country. Why can't the government deal directly with companies that have the technical know-how to prospect, explore, and produce oil as the case may be? Why does an unproductive middle man have to stand in-between to cart home outrageous profits for doing absolutely nothing?

The whole thing has gone on for too long, and I hope someone would someday muster the political will to end this bazaar. Things just can't continue this way.

pro01: To be honest, this rentier 'capitalism' has got to stop. It is extremely damaging to the country, and has held us back from meaningful economic growth and development.

That is why it is hard to take most of these oil industry 'moguls' (including useless parasites like Folorunsho Alakija) seriously. It is extremely offensive to see these leeches prancing about and purporting to be exemplars of African business success. What business? Nowhere else in the world does government hand OPLs and OMLs to fools who in turn hand over the same assets to "foreign technical partners" or Oil Majors, and then sit back on their flabby asses to collect millions of dollars in rent daily, weekly or monthly as the case may be. The millions and billions of dollars milked by these parasitic rentiers would go a long way to help address our developmental challenges as a country. Why can't the government deal directly with companies that have the technical know-how to prospect, explore, and produce oil as the case may be? Why does an unproductive middle man have to stand in-between to cart home outrageous profits for doing absolutely nothing?

The whole thing has gone on for too long, and I hope someone would someday muster the political will to end this bazaar. Things just can't continue this way.

The guys who will do something about it will not be elected. The Government should be able to handle some businesses properly, not all should be privatized, I do not have a problem with the refineries being privatized but it should be transparent, unfortunately, this government does not do that.