Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,465 members, 7,816,089 topics. Date: Friday, 03 May 2024 at 03:57 AM

Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post (40037 Views)

Oduduwa Republic Will Be Realised And Nothing Can Stop It- FFK / Oil-rich Nigeria Is Ready To Implode. There’s One Way To Stop It –financial Post / Oil-rich Nigeria Is Ready To Implode. There’s One Way To Stop It (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (Reply) (Go Down)

Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by Noneroone(m): 3:25am On Jun 07, 2016
Nigeria, Africa’s most populous country with 180 million people, and its largest economy with a US$1.1 trillion GDP, is imploding: Insurrections by Boko Haram and others; sectarian butchery where the country’s Muslim north meets its Christian south; corruption so rampant it ranks as the country’s second-largest industry; and plummeting oil production are making the country ungovernable.

This resource-rich former British colony — until recently Africa’s largest oil exporter — is now racking up deficits, and negotiating multi-billion dollar bailouts through agencies such as the World Bank.

But bailouts from rich countries won’t cure Nigeria’s dysfunctions. This immense country is artificial, a forced union of three major and hundreds of minor ethnic groups speaking different languages, observing different legal codes and loyal to different tribal groups. Nigeria’s cure will start when the ahistorical boundary cavalierly drawn on a map by Britain’s colonial masters dissolves. The more coherent constituent nations to emerge — composed largely of the Igbo in the southeast, the Yoruba in the southwest and the Hausa and Fulani in the north — would be less burdened by the many rivalries that now hobble the central government, and better positioned to govern themselves.



A first attempt at that necessary dissolution occurred in 1967, seven years after Britain gave Nigeria its independence, when the Igbo and related tribes of its oil-producing southeast broke away to form the Republic of Biafra. This nascent black African Christian republic, with a population of 14 million in an area larger than Ireland, was soon officially recognized by other black nations in Africa as well as Haiti in North America, and was unofficially supported by France, Spain, Norway, Israel and other Western nations, along with the Vatican and various Catholic organizations such as U.S. Catholic Relief Services. Biafrans, who had a culture of village democracy, tended to be skilled, entrepreneurial, relatively prosperous and relatively literate. The Republic of Biafra had the international legitimacy, the human capital and the resource wealth to be viable.


But the support that came from its sympathizers was almost entirely moral, forcing Biafra and its initial 3,000-man army to manufacture most of its own arms in a civil war against the Nigerian army, which was armed by the United Kingdom and the Soviet Union. Some two to three million perished in the two-and-a-half years that Biafrans held out against their better armed, more numerous enemy, before surrendering and reintegrating into Nigeria.

Nigeria since the Biafran War saw waves of military coups and repression. It stayed intact only because its oil revenues enabled the central government to finance its military and to buy off rebel insurgents. With oil revenues down, the central government reduced the payouts to tens of thousands of militants by 70 per cent, leading to widespread upset. In recent weeks, a new pro-Biafran militant group demanding sovereignty, the Niger Delta Avengers (NDA), has attacked the country’s oil infrastructure, almost halving Nigeria’s oil production to 1.4 million barrels a day. “Our goal is to cripple Nigeria’s economy,” NDA vowed, and it is making good on its vow. Among its successes: blowing up two Chevron export terminals and an underwater pipeline that forced Royal Dutch Shell to shut a terminal handling 250,000 barrels of oil a day.

The Nigerian military not only needs to contain popular unrest in the Biafra region — the local press reports 53 killed in a “Biafra bloodbath” on Monday during a march commemorating the anniversary of Biafran independence — it also needs to contend with Boko Haram, which aims to establish a caliphate in the Muslim north-east. But Nigerian forces are dispirited and ineffectual, short of ammunition, poorly trained and poorly paid.

Even if World Bank financing comes through, the loans won’t do much for an economy in shambles. The national currency has depreciated 70 per cent in the last year, leading to high inflation; government workers in 26 of the country’s 36 states haven’t received their monthly salary for months; and severe gasoline shortages led the government to end price controls, causing a 67 per cent hike in prices at the pump.

Nigeria doesn’t need cash; it needs good governance, which is likelier to occur if the Igbo rule themselves in the southeast, the Yoruba in the southwest and the Hausa and Fulani in the north. The West blew it a half-century ago when the Igbos attempted to achieve self-determination by establishing the Republic of Biafra. We may soon see a reprise of that civil war. How the West responds will determine whether the nation states within Nigeria achieve self-determination, or whether Nigeria, like Libya and Somalia, becomes another failed state.

http://business.financialpost.com/fp-comment/lawrence-solomon-oil-rich-nigeria-is-ready-to-implode-theres-one-way-to-stop-it

112 Likes 12 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by Noneroone(m): 3:31am On Jun 07, 2016
He who has ear let him hear

164 Likes 9 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by pacino26(m): 3:39am On Jun 07, 2016
Yawns

Men no news yet.

8 Likes

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by softtouch2(m): 3:41am On Jun 07, 2016
Propaganda written by disgruntled terrorizing-Biafrans!

94 Likes 4 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by Oblitz(m): 3:57am On Jun 07, 2016
grin smiling in sign language..........make Buhari understand since he has ear infection grin

115 Likes 7 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by ikbnice(m): 4:13am On Jun 07, 2016
*yawns*
I just woke up, has the avengers damaged Aso Rock already, I thought they say the missiles would be launched at midnight and this is morning already.
*yawns agains and goes back to sleep*
.
.
Even if missiles didnt fly, the threat worked sha. See as FG calls for dialogue.

37 Likes 1 Share

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by YorubaHighness: 4:14am On Jun 07, 2016
Oblitz:
grin smiling in sign language..........make Buhari understand since he has ear infection grin

As if Buhari will be the one to suffer. Gullibos and their short sightedness.

30 Likes 2 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by YorubaHighness: 4:15am On Jun 07, 2016
ikbnice:
*yawns*
I just woke up, has the avengers damaged Aso Rock already, I thought they say the missiles would be launch at midnight and this is morning already.
*yawns agains and goes back to sleep*

The ND Avengers don bomb Aso Rock - according to radio biafra

30 Likes 2 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by ikbnice(m): 4:21am On Jun 07, 2016
YorubaHighness:


The ND Avengers don bomb Aso Rock - according to radio biafra
Let's wait for the news to pick it apart from the one emanating from radio Biafra.

5 Likes 1 Share

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by YorubaHighness: 4:22am On Jun 07, 2016
ikbnice:
Let's wait for the news to pick it apart from the one emanating from radio Biafra.

No. Gullibo nlers ensured that the missile went through onitsha and enugu as it made it way to ask rock.

9 Likes 1 Share

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by whirlwind7(m): 4:26am On Jun 07, 2016
All you morons up there saying thrash. Do you need a prophet to tell you guys that we are headed for a failed state? Once the crunch occurs, many of you are going to become victims.

Every single politician, both actively engaged or otherwise, knows that this system is not working, and IT CAN NEVER WORK except there is a massive restructuring of governance. They just pay lip service about things getting better soon because supporting the entity called Nigeria is what puts money in their pocket.
Let's assume the NDA suddenly repents and disengage from destroying oil facilities, and Boko Haram makes peace with itself and the society, what happens next? We keep operating a sham system based on ethnicity and nepotism. Way to go! Will it stop the rampaging herdsmen from their activities? Will it make the Fulanis suddenly realize that every other tribe has an equal stake, and nobody can be lord over others?

The sooner we face reality, the better chances we have at coming out of this predicament intact. We don't have a nation. We have never had anything close to a real nation since independence. For all those who keep pointing accusing fingers at other tribes, saying IPOB or Biafra is behind the report. Ask yourselves one very honest question: Would you willingly give your life up in exchange for your so called country? If you were told that your death would mean a better Nigeria, are you patriotic enough to forfeit your life for that?

Test your loyalty then. Know where your allegiance truly lies.

313 Likes 42 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by ikbnice(m): 4:26am On Jun 07, 2016
YorubaHighness:


No. Gullibo nlers ensured that the missile went through onitsha and enugu as it made it way to ask rock.
lol...so that was how the missile journeyed.

5 Likes

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by YorubaHighness: 4:27am On Jun 07, 2016
ikbnice:
lol...so that was how the missile journeyed.

The missile must pass through its supporters territory nah.

7 Likes

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by softtouch2(m): 4:28am On Jun 07, 2016
YorubaHighness:


No. Gullibo nlers ensured that the missile went through onitsha and enugu as it made it way to ask rock.

grin grin grin grin

2 Likes 1 Share

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by Netcontactsng1(m): 4:30am On Jun 07, 2016
FREEDOM IS COMING TOMORROW.

15 Likes 2 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by YorubaHighness: 4:53am On Jun 07, 2016
ayzTIGER:
The Yorubas have been against Biafran breakaway simply because they will be at messy of Hausa/Fulani and maybe the Hausa/Fulani will play the Kwara game all over again ie installing thier Emir all over Yoruba land

Messy ko Messi ni.
The lies you guys continue to tell yourselves. How are the mighty boogey Yorubas stopping you?
You cowards continue to hide behind minority group's terrorism, hoping they would bomb Nigeria.

32 Likes 2 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by jejemanito: 4:56am On Jun 07, 2016


Me thinks the first place to be blown up should the Villa clinic at Aso Rock

What's the point of having a 3.8 billion naira facility if it's only good enough for signing medical referals to overseas?

35 Likes 3 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by YorubaHighness: 5:03am On Jun 07, 2016
ayzTIGER:
your so afraid of the Igbos leaving you to your darling Nigeria cuz the Hausa/Fulani will play you like football. The emergence of Emir of Ibadan is at hand

How are Yorubas afraid? You need to take your pills to rid yourself of this delusion. Yorubas have continuously humiliated you in the SW, yet you won't even invest in Iboland, talk less of moving back to the east. Fulani don kill uno plenty for the North. They just recently behaeaded on of your own in the North, yet your people would rather live amongst Hausas than to live in the SE. So who is holding you back?

Don't worry about the emergence of Ibadan Emir. Focus on helping iPod to achieve Biafra.

38 Likes

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by DaBullIT(m): 5:06am On Jun 07, 2016
Biafrans held out against their better armed, more numerous enemy, before surrendering and reintegrating into Nigeria.


So Nigeria is the enemy ? That's not a kind of thing a foreign media would write

18 Likes

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by tsdarkside(m): 5:07am On Jun 07, 2016
whirlwind7:
All you morons up there saying thrash. Do you need a prophet to tell you guys that we are headed for a failed state? Once the crunch occurs, many of you are going to become victims.

Every single politician, both actively engaged or otherwise, knows that this system is not working, and IT CAN NEVER WORK except there is a massive restructuring of governance. They just pay lip service about things getting better soon because supporting the entity called Nigeria is what puts money in their pocket.
Let's assume the NDA suddenly repents and disengage from destroying oil facilities, and Boko Haram makes peace with itself and the society, what happens next? We keep operating a sham system based on ethnicity and nepotism. Way to go! Will it stop the rampaging herdsmen from their activities? Will it make the Fulanis suddenly realize that every other tribe has an equal stake, and nobody can be lord over others?

The sooner we face reality, the better chances we have at coming out of this predicament intact. We don't have a nation. We have never had anything close to a real nation since independence. For all those who keep pointing accusing fingers at other tribes, saying IPOB or Biafra is behind the report. Ask yourselves one very honest question: Would you willingly give your life up in exchange for your so called country? If you were told that your death would mean a better Nigeria, are you patriotic enough to forfeit your life for that?

Test your loyalty then. Know where your allegiance truly lies.

tahhhhh.....nigeria doesnt need your loyalty...you igbos love money too much...we will pay you to fight.....

whatever............

19 Likes 1 Share

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by Goddex: 5:07am On Jun 07, 2016
er
Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by ayzTIGER: 5:08am On Jun 07, 2016
YorubaHighness:


How are Yorubas afraid? You need to take your pills to rid yourself of this delusion. Yorubas have continuously humiliated you in the SW, yet you won't even invest in Iboland, talk less of moving back to the east. Fulani don kill uno plenty for the North. They just recently behaeaded on of your own in the North, yet your people would rather live amongst Hausas than to live in the SE. So who is holding you back?
i can feel your fear and im not here to argue with you but mark my word the emergence of Emir of Ibadan is at hand

75 Likes 4 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by hucienda: 5:09am On Jun 07, 2016
The write-up is the obvious. The country has tried for years pretending to be one when not.

78 Likes 5 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by Nobody: 5:09am On Jun 07, 2016
YorubaHighness:


Messy ko Messi ni.
The lies you guys continue to tell yourselves. How are the mighty boogey Yorubas stopping you?
You cowards continue to hide behind minority group's terrorism, hoping they would bomb Nigeria.

....... When you know the truth but lacks the gut to say it.

Maybe you can lay down/sacrifice everything on the alter for the survival of this Nation.

16 Likes 2 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by YorubaHighness: 5:11am On Jun 07, 2016
ayzTIGER:
i can feel your fear and im not here to argue with you but mark my word the emergence of Emir of Ibadan is at hand

Always a pleasure chatting with an onitsa lunatic.

15 Likes 1 Share

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by YorubaHighness: 5:12am On Jun 07, 2016
Okikiki:


....... When you know the truth but lacks the gut to say it.

Maybe you can lay down/sacrifice everything on the alter for the survival of this Nation.



Another onitsha lunatic. How's the survival of this nation my concern? Gullibos really wish Yorubas care if they stay or go grin

23 Likes 1 Share

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by ayzTIGER: 5:15am On Jun 07, 2016
YorubaHighness:


Always a pleasure chatting with an onitsa lunatic.
say whatever you like its a faceless forum but Yorubas cant just leave thier masters without putting up a fight. You cant leave Nigeria just because you see Biafra leaving, you must remain with your darling Nigeria

53 Likes 3 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by YorubaHighness: 5:17am On Jun 07, 2016
ayzTIGER:
say whatever you like its a faceless forum but Yorubas cant just leave thier masters without putting up a fight. You cant leave Nigeria just because you see Biafra leaving, you must remain with your darling Nigeria

Coming from the same tout whose governors begged Fulani Herdsmen not to leave and said that it was unlawful to ban Fulani herdsmen. Gullibos are slaves to Nigeria and cowards that hide behind minority groups to flex.

30 Likes 4 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by ayzTIGER: 5:26am On Jun 07, 2016
YorubaHighness:


Coming from the same tout whose governors begged Fulani Herdsmen not to leave and said that it was unlawful to ban Fulani herdsmen. Gullibos are slaves to Nigeria and cowards that hide behind minority groups to flex.

hahaha i can feel your fear, i can feel your shaky hands but the fact remains after Biafra is gone Hausa/Fulani will play you like the game of chess, they will play the Usman Dan Fodio style all over Yoruba land

82 Likes 7 Shares

Re: Oil-rich Nigeria Is Ready To Implode. There's One Way To Stop It- Financial Post by Tallesty1(m): 5:31am On Jun 07, 2016
tsdarkside:


tahhhhh.....nigeria doesnt need your loyalty...you igbos love money too much...we will pay you to fight.....

whatever............
Yea...... They like money so much that their anthem is Biafra or Death.

They love money so much that they willingly give their lives for the release of Kanu.

Stop living in 1967.

If you read the post, you will know that Nigeria cannot win war against biafra this time.

I don't pray for war though but it is good to state the obvious.

The country is broke and cannot fund military in war front.

The oil they may need is no longer completely theirs.

So stop inciting war and make peace because Niger Delta has begun starving Nigeria which you and I know was what they used to defeat Biafra.

You pray for one Nigeria yet you're here spreading hate speech which is what makes Igbo want to leave in the first place.

117 Likes 8 Shares

(1) (2) (3) (4) (5) (6) (7) (Reply)

Why North’ll Continue To Be Problem To Nigeria –balarabe Musa / VGC Lagos Flooded After Rain Yesterday Evening (Photos) / DSS Charges Godwin Emefiele To Court

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 57
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.