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


The Punch Version I read yesterday had the man shouting @ Dora Akunyili " Minister this is enough!! Enough is Enough!!!"

@ Moderator, this is a hot topic for homepage.

Hmm

hmnnnnnnnnn

The Venezuela Amb has said it clearly for us!

But I know Nigeria still under the clutch of Britain and USA.

You have to have your own country. The oil is your country’s.

Gbosa! Gbosa!! Gbosa!!

I graduated from the university without paying one cent, and take three meals every day, because we have the resources.

Gbam! Gbam!

If you are not handling your resources, how are you going to handle the country?

Knockout!!!!

I hope yar'adua is reading this!
Dead oR ALIVE!

lmao

I felt like crying here.
I pray that God give leaders the wisdom to administer their respective offices well.

Hugo Chavez is branded as a terrorist.The US and Britain hate that country so copying their style will infuriates them.Its high time that the third-world/poor countries realize that they are on their own.The developed countries of the world are using them.By ensuring relative stability,the are guaranteed all the natural resources they need.We have to get our house in order first and save ourselves.God is on our side in the sense that he has given us the much needed resources to survive and succeed.

You need to see the look on Madam rebrand face when she was being lectured yesterday, the whole thing is more of a humilation for her, I used to respect this lady so much that I adopted her as my hero but since she started playing with pigs in politics i've lost every form of respect for her. If Nigeria cannot control her own resources and put her own people first how and how again could we expect foreigner to look after us? shame to madam rebrading her her fellow rapists in power. one day they will all be charged and punished for continuously raping Nigeria and her people. Its the same ppl that FORCED most of us on self imposed exile. God will punish them all

Oloriburuku gbogbo

No wonder the west hates Hugo Chavez so much and spread so much propaganda against him. Make dem come rule us abeg.

Knowing Awolowo very well If he was President he would have tilted a bit to the left for the sake of all Nigerians. He would never allow exploitative tendencies from the west.

Every country has an interest, Nigeria what is your interest

Venezuela's example cannot be repeated in Nigeria - our national oil company is USELESS and we CANNOT even run the refineries we have.

The refineries are 100% controlled by Nigeria so if that happened to oil producing assets, they would become comatose in no time as well.

Venezuela's example cannot be repeated in Nigeria - our national oil company is USELESS and we CANNOT even run the refineries we have.

Nigeria is doomed then.

The amb said it clear and simple.

Control your resource, you control your life.

Others control your resource, they control your life.

It is our choice!

back2back:

Nigeria is doomed then.

The amb said it clear and simple.

Control your resource, you control your life.

Others control your resource, they control your life.

It is our choice!

That is an overly simplistic analysis. Nigeria's problems are FAR GREATER than control or lack of control of oil - if you think that is the problem then you are highly uninformed of the Nigerian malaise.

We are controlling our refineries - why can't we make them work? We are controlling road construction - why can't we maintain them? We are controlling power generation, how come we can't have adequate supply?

Till the government stops controlling refining we will continue to have problems.

The issue is NOT control of resources - that is a ruse of the highest order. If we ever used our income from those resources wisely we would have a great impact on living standards in Nigeria.

Venezuela lecturing Nigeria? The sheer irony of it all. This is one of the world's most mismanaged major oil producers with a contracting economy and shrinking oil output due to underinvestment.

Of course, relative to Nigeria, they are better off but you know you are doing badly when you revel in doing better than Nigeria.

4 Play:

Venezuela lecturing Nigeria? The sheer irony of it all. This is one of the world's most mismanaged major oil producers with a contracting economy and shrinking oil output due to underinvestment.

Of course, relative to Nigeria, they are better off but you know you are doing badly when you revel in doing better than Nigeria.

As 4play stated, venezuela is no ideal for Nigeria.

The cement manufacturing and milk producing industries of venezuela have being ran aground.  foreign investments have been pulled out.  Exxon Mobil even won a judgment against venezuela because of the hostile takeover of the oil industry.  venezuela also has one of the highest inflation rate in southern america.

They are still more advanced than us though. eccentric hugo chavez aside.

Countries like Venezuela and China understand that sometimes you have to change the rules of the game. Who would have thought that the worlds greatest capitalist nation USA would be so heavily dependent and indebted to a former communist country?

Venezuela have electricity, cheap fuel, free education, free healthcare and housing for the homeless.
Them swear for una? how can you not want to copy such an achievement?

SapeleGuy:

Venezuela have electricity, cheap fuel, free education, free healthcare and housing for the homeless.
Them swear for una? how can you not want to copy such an achievement?

an achievement based on high crude oil prices and a mono economy (the only viable industry is the Oil industry) is one to be copied? Nigeria has had an oil boom before, we all see what happened after the boom

Venezuela is going to be in a real mess soon. Chavez is taking the country backwards. The numbers don't lie.

^^^ what are you talkin about ? im sure the numbers you are ferring to are those based on western studies

@op
with all due respect to that venezuelan minister or diplomat or whatever
venezuela is not the model to look at if we want rapid growth
the model should be indonesia or india

liberalize your economy,get govt out of most of the way,invest in infrastructure,and everything else will flow
u cant go around seizing assets of multinationals now,that will only promote capital flight
look up how indonesia is doing it,and copy them not venezuela

sjeezy8:

^^^ what are you talkin about ? im sure the numbers you are ferring to are those based on western studies

You have access to the internet. Read Ali Rodriguez's forcast for the Venezuelan economy. I'm not about to get into childish arguments about western studies.

paddy_lo:

liberalize your economy,get govt out of most of the way,invest in infrastructure,and everything else will flow
u cant go around seizing assets of multinationals now,that will only promote capital flight
look up how indonesia is doing it,and copy them not venezuela

Exactly! Venezuela has a population of about 26,814,843m people and exports 2.2m barrels a day. Nigeria has a population of about 154,729,000m people and exports 2m barrels a day. It doesn't take a rocket scientist to see that we can't sustain the Venezuelan method.

Mariory:

You have access to the internet. Read Ali Rodriguez's forcast for the Venezuelan economy. I'm not about to get into childish arguments about western studies.

no reason to act like a fuckin female bitch! I simply said western studies are biased ode. Learn how to not be a bitch and take that stick out of your ass.

no argument enjoy your evening and remember to change your fuckin tampon

with your boyfriend fagget

sjeezy8:

no reason to act like a fuckin female bitch! I simply said western studies are biased ode. Learn how to not be a bitch and take that stick out of your ass.

no argument enjoy your evening and remember to change your fuckin tampon

sjeezy8:

with your boyfriend fagget

I see you have a thing for boyfriends. That's real emotion pouring out there boy. Time of the month?

Whao free tutiton fees, free meal. No wonder they produce beauty queens.

We don't control our refineries; a faceless CABAL controls it.

otokx:

We don't control our refineries; a faceless CABAL controls it.

Gbam!! Gbosa!! Gbosa!!

Even the cabal do not control it, they have puppet masters behind them!

debosky:

our national oil company is USELESS and we CANNOT even run the refineries we have.

The refineries are 100% controlled by Nigeria so if that happened to oil producing assets, they would become comatose in no time as well.

bro, our problem is lack of dedication and patriotism. I have been working with construction companies and still working now. Most of the foreigners they bring in don't know anything, almost everything is done by nigerian engineers and technicians - apart from the actually design which is done outside the country - the builing/fabrication/construction part is done by nigerians. The foreigners are just supervisors to make sure the job is done, most of them can't even read, interpret drawings. Almost everything reading fabrication and construction is done by nigerians including CAD versions of "AS BUILT" is done by nigerians.

We have talented and knowledgeable nigerians, just the absense of dedication and get rich quick attitude. Give these same guys a company to manage they will run it aground, while living large.

tunnytox:

I used to respect this lady so much that I adopted her as my hero but since she started playing with pigs in politics i've lost every form of respect for her.

Same here guy, now i don't have any hero. Was even wishing she were the president then, but changed my mind now.

bro, our problem is lack of dedication and patriotism.

And those are some of the criterias inside 'CONTROL your own Resource'