The North Does Not Control Nigeria’s Oil Blocks, By Toyin Akinosho

Toyin Akinosho

Senator Ita Enang’s spirited claim at the National Assembly Wednesday to the effect that 83% of the country’s oil block is in the hands of northerners appears to be inspired  from assertions contained in an old article by a newspaper commentator, Mr. Ross Alabo-George whose famous essay was titled Poverty And Deprivation: Why The North Is Poor. 

In the excerpted refutation below, Toyin Akinosho, a petroleum geologist with over two decades of work at Chevron and now publisher of the well-regarded Africa Oil and Gas Report, argues angrily that such lines of thought canvassed by the likes of Senator Ita Solomon Enang and indeed Mr. Ross Alabo-George are merely hysterical, and tendentious, designed to mislead the public. Mr. Akinosho characterizes the arguments as crappy and crummy. It is excerpted from the African Oil+Gas Report for the value it brings to the current debate about Nigeria’s oil resources and the National Question.

Alabo-George’s article plays up so well the sentiments that a good number of Nigerians, especially middle class types excluded from the spoils of the petroleum subsidy, and allied deliverables, nurse about the kind of leadership we have suffered since independence.

But it has gone around so far and keeps being forwarded so rampantly, largely because it plays to the ethnic schism; the suspicions that each of us harbours, in our different silos, about “the other”.

It’s largely a response to the disingenuous claim by Sanusi Lamido Sanusi, the Central Bank Governor, that the Boko Haram insurgency is a response to the 13% derivation allocated to the oil producing states from the federation account. “There is clearly a direct link between the very uneven nature of distribution of resources and the rising level of violence”, Sanusi told The Financial Times of London.

Alabo-George’s piece is compelling when he contrasts what non oil-producing Southern states have been able to do with their supposedly meager allowances with what their Northern counterparts have done with their own allocations.

“Ekiti State has about the same revenue as Yobe and Gombe”, he contends, “but only 17 students passed WAEC and NECO in Gombe state last year, while Ekiti State is known for its high literacy level”.

I find two beautiful quotable quotes in the article: (1) “Borno State has a bigger budget than that of Cross River, a Niger Delta State. While the leaders of Cross River over the last decade have transformed it into the nation’s leading tourist destination, those of Borno have transformed it into a Somalia”.

(2) “Gombe State has a bigger budget than Enugu and Anambra, why has MASSOB not bombed anyone”?

But once Alabo- George ventures beyond the political economic analysis and starts to list who owns what oil and gas assets, his article is a litany of inaccuracies and lies. He gets it totally wrong.

He writes about the estate of the late Mai Deribe, the Bornu State born businessman, supposedly owning a huge oil field; Rilwanu Lukman having controlling shares in Afren; Atiku Abubakar being the stupendously rich beneficiary of the profits of Intels, the logistics company; Aminu Dantata’s Express Petroleum. He ties Amni Petroleum to only Sani Bello.

So much conspiracy theory.

Oil acreage ownership in Nigeria does not have ethnic colouration. What’s more important, sustaining production from oil and gas assets, whether or not awarded by the state, is determined by how much of a businessman you are.

When Jibril Aminu handed out oil prospecting blocks, in the first comprehensive effort “to encourage indigenous participation” in 1991, he gave blocks to companies owned by Folawiyo, Abiola, Adenuga, Udoji, Ibru, Igbinedion,(all Southerners) as much as he gave to enterprises set up by people like Saleh Jumbo and Mai Deribe.

Between 1991 and 1993, we suddenly had over 25 companies, that were Nigerian E&P companies and they took themselves so seriously that they set up an association they christened “Nigerian Association of Indigenous Petroleum Exploration Companies”. But what did these people do with the acreages? They were mostly clueless about how to progress things.

Out of that class of awardees, only Mike Adenuga created what you could really call an E&P company. He is the only one producing oil today, from his own block.

It’s bad enough that Nigerian indigenous private acreage holders don’t produce, as a collective, up to 150,000 Barrels per day, or 7% of the national daily production, so why are we fighting ourselves?

And I am less keen on how much you’re getting as rent from the asset you are holding, than the capacity you are building as manager of a Nigerian oil company who is awarded the asset, in trust for the rest of us.

I am for an ongoing, earnest debate on the National Question.  But false information misleads all of us into false conclusions, which reduce the complexity of the solutions we ought to be proffering.

The author cites a number of hydrocarbon acreages belonging to Northern elites, but ignores the fact that holding an acreage is one thing; getting value out of it is another.

That so many people believe the poorly researched article, and so instantly forward it that it becomes one of the most travelled essays on the National Question, is testimony to poor knowledge of how the oil industry works.

The first field the author mentions is Obe field, which, he rightly claims, is held by Cavendish Petroleum, a company set up by Alhaji Mai Deribe. Alabo- George lied by saying that the Obe field, the main hydrocarbon pool in OML 110, contains 500Million barrels of oil reserves.

The Obe field does not have a proven 20 Million barrels. I am not sure it has 10Million barrels. It is not producing as I write. The Obe field has not produced for five years, since 2007, when Tranfigura, the last technical partner engaged by Cavendish, walked out.

I don’t know what discipline Mr Alabo-George belongs to, but this point I am about to make is well known to every junior petroleum geologist with three year experience in the crummiest E&P company: If a field holds 500Million barrels of oil, proven, in shallow water Nigeria, it won’t lie fallow. Investors would rush it.

In countries where you don’t have the complications that the NNPC brings to the table here, fields that haven’t proven much more than 500Million barrels are “rushed” through to development.

Ghana’s Jubilee field didn’t prove a billion barrels before the country’s authorities approved a field development plan. Apart from Nigeria, Angola, Libya, Algeria, Ghana (now, since 2008) and perhaps Equatorial Guinea, no African country has a billion barrels in proven reserves. 500 Million barrels is half of that.

Mr Alabo-George says that Obe has the capacity to produce about 120,000 barrels of crude oil daily from its OBE 4 and OBE 5 wells. What sort of numeracy is this? Or is he dreaming these figures? How can a field with less than twenty million barrels “have the capacity” to produce 120,000 barrels per day?. What’s capacity?

Alabo George’s second example of a wealthy northerner swimming in oil money is Mohammed Indimi, “a Fulani and close friend of General Ibrahim Babangida”. He says “Oriental Energy Resources Limited runs three oil blocks: OML 115, the Okwok field and the Ebok field. OML 115 and Okwok are OML PSC, while Ebok is an OML JV. All of them good yielding offshore oil blocks”.

The author  just  doesn’t care to verify his claims. True, Indimi’s Oriental Resources holds the three assets. OML 115 is not producing as I write. No one has certified that there’s a producible field in the acreage. Ebok is being produced, on Oriental Resources’ behalf, by Afren, a UK listed company. Last year, the field delivered an average of 8,000Barrels of Oil per Day(BOPD), according to Afren’s website.  You can google it. Okwok, as I write, is still in development. Translation: it has produced nary a drop of oil.

Aminu Dantata’s Express Petroleum holds the Oil Mining Lease 108, with technical partners Shebah Petroleum, which bought out Conoco, the original technical partners. Fine.

The Ukpokiti field, the main asset on the acreage, produced for quite a while; and should have made the Dantatas quite rich, over a period of more than seven years. The field died out at some point and is being revived as I write.

“NorthEast Petroleum is owned by another Fulani businessman from the North East, Alhaji Saleh Mohammed Jambo”, Alabo-George testifies. “The license was awarded to him by General Ibrahim Badamosi Babangida”.

Another truth: North East Petroleum has NEVER produced a single drop of oil since that award in the early 90s. There, simply, hasn’t been a discovery worth the while for operator TOTAL.

I agree that Theophilus Danjuma, also a Northerner, is entitled to contest for the award of the man who made the most fortune, at a sitting, on an oil acreage in Nigeria.

Alabo-George’s article, in his rush to conclusions, even understates the significance, by claiming that Danjuma’s company,  South Atlantic Petroleum Limited(SAPETRO),  made $1Billion from the deal.

The truth is that China National Overseas Offshore Company(CNOOC ), signed a definitive agreement with SAPETRO to acquire a 45% working interest in  OML 130 for $2.268 billion cash.

I don’t know how much the broker of the deal took, but I am yet to confirm if the Nigerian government earned any withholding tax from that transaction. In spite of what he has earned “upfront”, Danjuma’s SAPETRO gets 25,600Barrels of Oil per day for its 15% of OML 130 from the Akpo field, which is delivering 175,000BOPD.

But if you complain about Northerner Danjuma, what about the Alakijas, a Yoruba couple whose company, Famfa Oil, is “entitled”, every day, to 25,000BOPD from Chevron operated Agbami Field, located in deepwater OML 127?.

These two companies are two of the four largest producing Nigerian companies today. The other two are Adenuga’s Conoil(25,000BOPD)  and Seplat Petroleum(37,000BOPD, operated, 16,000BOPD, equity).

Only one of those four companies is Northern owned. And it is outright falsehood that “ 80 per cent of crude oil and gas produced by indigenous companies is controlled by the North-East”.

But, as I said again: which technical and managerial capacity are we building on the back of the rent collected from these leases. It’s the real job.

The last example I’d touch, before the concluding commentary, for space purposes, is the case of Rilwan Lukman, who Alabo-Gorge cites as having controlling shares in Afren, the UK listed company. Lukman was there on the ground floor of the construction of Afren, around 2004, no doubt, but the key founders of Afren are Ethelbert Cooper, the Liberian businessman and Osman Shahenshah, who is the current Chief Executive.

What people like Lukman and Egbert Imomoh, the other Nigerian on the company’s board in the founding days, did, is the kind of thing I urge Nigerians in their positions to do.

Use your knowledge to access and create value, not to grab and destroy value. Cooper and Shanenshah knew that Lukman(then out of office both from OPEC and as Nigerian special adviser), and Imomoh(then recently retired as Deputy Managing Director Of Shell Nigeria) knew the Nigerian oil industry deeply and could access oil and gas fields that were lying fallow.

Shanenshah, coming from a financial services background, knew how to raise funds: the most important thing in oilfield exploration and development. Indeed the first piece of news by which most people knew of the existence of Afren was that the IMF had agreed to give a 5Million dollar loan to this company, which was only just about starting. It pays to have Lukman on your board.

Yet, in spite of Lukman’s influence in the Nigerian polity, Afren had never accessed Nigerian acreages via government awards. Afren, cash in hand, running a technically proficient company, approaches Nigerian indigenous owners of assets-like Ndimi’s Oriental Resources, Amni and several marginal field holders, and signs agreements with them to be technical partners.

After Afren has recovered its investment via cost oil, Afren and the company continue to share the proceeds from the field 50:50 for the life of the field. Afren uses Nigerian technical capacity to a large degree and it trains a lot of people. But it can do more.

Afren has never benefitted from bid round or government-sanctioned discretionary awards, so why would anyone link Lukman’s involvement in Afren in a list that has a number of Northerners supposedly benefitting from government largesse? That is part of the trouble I have with Alabo-George’s essay.

I wouldn’t compare Lukman’s relationship with Afren to the benefits that Atiku Abubakar derives from being a part owner of Intels, the logistics company which takes advantage of the free trade zone in Onne, near Port Harcourt.

This particular example helps us to locate “the Nigerian tendency”, beyond  “the Northern tendency”, in this discussion. Because, really, we are just all the same.

A foreign company comes to Nigeria to set up for business. Because of the difficulties we invent as barriers to entry, this company requires the services of some big Nigerian men, preferably those who have worked for government, for access.

What Atiku Abubakar has done with Intels has parallels in other sectors of the economy and is comparable with what Yoruba chieftains, Ijaw leaders, Igbo High Chiefs, Idoma overlords, etc, etc, have done with many other companies operating here.

That’s how people became key shareholders of companies like Julius Berger. As I write, the key sentiment underlining the complaints against the tolling on the Lekki Expressway is that “most of the money will go to Tinubu’s pocket”. That’s the word on the street.

Brokerage is not a bad thing on its own, but what we need to stress is a level playing field, rule of law, security of tenor and equity and fairness as much as possible, for all.

If I really want to be mischievous, I’d focus on the recent deal in which Shell and Agip have had to pay in excess of one billion dollars to Dan Etete, a south-south man, for stakes in Oil Prospecting Lease OPL 245. And I would ask “Is that necessarily right”? Should the president, a south-south Ijaw man, have waded in to ask Shell and Agip to move the deal forward? But that’s a story for another day.

In my book, people from everywhere have taken advantage of the unstructured way we have dispensed with oil and gas acreages. Naming names about which Northerner got what size of the pie is less useful than a focus on how government is insisting on open and transparent bidding, but more importantly, on Nigerian technical know how and management.

You can’t hand over an acreage and walk away. You have to monitor what the holder is doing. How he is ensuring employment.  If we can’t, with all the treasure, build five private E&P companies that have the internal competencies that Shell has and can go out and buy and operate assets the way that UBA and GTB and Ecobank venture into Ghana and The Gambia, then we have wasted all of the 56 years we have spent since the hoorah at Oloibiri.

Akinosho, a petroleum geologist, former news reporter, and one-time community newspaper editor, is now publisher of the well-regarded African Oil+Gas Report


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  • A brilliant piece,.He who has a rejoinder can come up.

  • Nini

    Pooh … this guy just confirmed what Ross Alabo George wrote. A few mild discrepancies here and there , so what? How can he claim his publication is highly regarded with his vulgar use of phrases such as “he lied”? He should watch his language ..

    • Chucks

      “He should watch his language ..” Else what? Truth is bitter.

    • asquare

      funny, mild discrepancies u say, everyone should believe wat they want to believe. so u wanna tell me the southerners own just 17percent, seriously?

  • Does it matter which region benefits from oil the most; even if south-south politicians take all the oil wells, lets ask if the citizens will even benefit kobo from it. it makes me sick when every issues are drag into region-religion arena and fail to see that our common enemy is our politicians. Is it really fair to blame ordinary pple on the street of Kaduna or Kano for the problem cause by these greedy politician from their region? The only people that are not marginalized in Nigeria are the politicians, We ar all marginalized as citizens

  • AG

    Ok lets do it this way the north has and controls the preferential award of Oil lifting licenses

  • Lanre

    Mr. Akinosho. I am not convinced by your purely technical analysis, ignoring the political. There needs to be a probe of the award of oil blocs from the days of Buhari (as Petroleum Minister) to the current Allison-Madueke. Why is Alhaji Indimi an in-law to Babangida? Why did the Alakija’s secure a bloc when Diya was second in command? Or was it because someone was a seamstress to Maryam Abacha? (How many times do you have to prostrate to the Head of State or President before you get an oil bloc. Or your wife becomes a consort of some sort, lol).
    Your article skims issues. There are deep subterranean shenanigans going on in Nigeria’s oil industry, just like everything else.

  • So the oil blocs are not producing oil today, how did Enang Lie ? He said they have majority of the oil blocs from what I have read above, Mr Akinosho has mentioned the same thing just with more information about them not producing right now. But I am very curious about his quite positive remarks for Rilwan lukman and the softening or damage control for Atiku. Mr Akinosho who are your biggest advertisers in your Magazine ???

    • Es3

      Yinka,
      I thought I was alone in my observations as Mr. Akinosho had just admitted all that Ita Enang said and surprisingly turned soft on some of them?!
      The questions are: whether producing or not, why are they holding the majority of the oilfields to themselves alone? Is that how it would have been if these oil fields were located up there? What happened to the much touted federal character when anything disfavours them? If not producing, why not return it? and the big question: how much did you they pay for it when Babaginda, Abacha, etc were sharing the oil blocs?

  • Jude Ik

    Mr. Toyin Akinosho, thanks for lecturing us but what you failed to achieve is to confuse Nigerians! The accusation is about ownership (more than 80% owned by Northerners) not how well the oil wells or blocks are being managed. We don’t need to be knowledgeable about the oil industry to know that the blocks were doled out to those who have connections from North(83%), South, East and West(17%). From your lecture I hope you’ll be consulted by those who want to know about the operations of the industry. Okay, now continue grammar for those who’re interested! Talk of paid mouth piece or do we say sycophant?

    • Made

      Akinnosho you are just rambling and sprawling like some diused or spoilt megaphone record!, All this your thesis is plain hollow, you just ended up confusing yourself, very very poor!!!

  • s a a

    Why not publish the names of the pple who own the oil blocks if we see it I think it end the whole argument an we will know the truth.

  • That the awardees were unable to do anything useful with the concessions does not mean there was no regional bias in the awards in the first place.

  • Amin s fulani

    This is how people of knowledge should be talking, not passing a mere sentiment assumption to ordinary nigerians. Mr. Akinosho writes in a very professional way with a scientific facts to backed his assertion, I feel so much happy that he is not a northerner to have made such a scientific justification. I thank you for such a piece and speaking as a nationalist looking up for United Nigeria

  • Umar

    This cheap blackmail and hatred of the North by the greedy South South politicians need to stop. Nigeria belongs to all of us and if anyone wants a share of the oil industry it is open to them provided they can raise the required capital or have the technical know-how to access it. It is a common fact that the Igbos own most of the land in the FCT, yet this has never been an issue; go out and buy it if you have the money or hush up. On the issue of 13% derivation, I pray that the NASS would at the Constitutional Amendment require that at least 10% of the fund is shared to the host community on a ward by ward level, since the states have not been able to use the funds in bringing development to the people. The remaining 3% could go the the states.

  • This matter is not going away just like that. Let us have in the public view the list and names of all the oil block owners and their principals. If you tell us how they qualified to be awarded or dashed the oil blocks, fine. If you tell us those performing and those not and why/ that will be bonus BUT tell us who owns what. We are knowledgeable enough to make up our minds. In this matter, like in the subsidy cases in limbo, don’t give me a haircut in my absence.

    • Bala

      How does it matter to me whether na northerner or southerners get the block. In what way will that benefit me as an ordinary man? I think it is only people like Ita Enang that ll benefit if the allocation is redone. Now he wants me to fight for him. Crazy politicians.

  • disqus_IZFGHI1Mo5

    Dogon turunci, ‘too much grammer’ produce a list like the senator’s and lets see. Rubbish anylysis.

  • The greatest disease killing us as a Nation is tribal sentiment, regional enimity. If we dont remove that as people and move forward. All those involve in the weather legal or illegal business of crude are not going to leave forever they have few years to leave and all the wealt they acquired will be inherited by people who may not wish them well, is better they humble them selves and help the poor and destitute in our society so that God will have mercy on us.. Let them learn from history..

  • jamie

    Fine article Mr. Akinosho. You have only ventilated the facts. There is now more light. But the truth was also stated by the senator (Enang). He said more than 80% of the oil blocks are OWNED by Northerners and that federal character ought reflect. While confirming that majority of the oil block examples you have given here are northern owned (or have controlling shares), you have shown that most of those oil blocks are not performing and need development for the growth of the industry

    So in effect, the process of award of these licences ought be democratized, transparent and have federal character like other sectors e.g. Education (catchment areas during University admission by JAMB), Sports (Football when we are winning), Health etc. These are Mr. Enang’s main sentiments.

    Let me take you on about what a “lie” is. When a person says what he SINCERELY believes to be the truth, though incorrect, has not LIED. He has only made an incorrect statement. A lie connotes an idea of having an intention – an intention to deceive. So you were not correct in saying that Mr. Alaibe “Lied” because he was unable to give technical details of what is actually possible.

    This is so because using your own words, you had wondered aloud which field Mr. Alaibe’s competences were. Which means you knew, at least, that he was no oil technocrat. So saying he is “lying” and then in another breath wondering what his competencies are is inconsistent and at best unfair on Mr. Alaibe and uncouth.

  • Danvista

    How come this professional distortionist call himself publisher of…whatever he calls it?Truly,wonders shall never end!I’m sure I’m not alone if I say that I’m just hearing,for the first time,about his so-called magazine,or rather,pamphlets that he extolled as ‘well-regarded’.One then wonders who constitute his readership.Are they human beings,or martials?This guy must have been living in another planet all these years to have not known the happenings in this monumental fraud called Nigeria.Those of us on the ground here have been watching with resignation,all the underhand dealings and scams that have been going on over the years in governments after governments.Why are we treating this issue of oil blocks allocation as if it’s too complex to handle?It wouldn’t take a rocket science to gather statistics about the ownerships of all the oil blocks.Let the government set up a high-power investigation panel to find out everything sourrounding the allocation exercise and,thereafter,publish the result with the names of all the beneficiaries for Nigerians to see.It’s only then that we can know who owns what,and thereafter,make sure that the guiding principle of Federal Character is reflected in the entire ownership.This Administration has always touted transparency as the centre-piece of its policy.This is the time for it to give a practical expression to its mantra of transparency.We can’t wait to see the government get cracking over this oil block allocation scandal!

  • shafiiabdulhamid

    The integrity of Senator Eta Enang is completely tight to this claim and also his unguided utterances. If he is to be wise, he should come out and apologize for passing misleading information capable of causing sectional hetness and disunity among Nigerians. He was actually motivated by sentiment.

    It is very unfortunate that a senator is instigating a section of the country against the other.

    • haneef yusuf

      Well said

  • Israel

    Y did they not give a single oil block to a Niger deltan? we are being robbed in our own land and u come heretofore tell me one Nigeria, nonsense.

  • Israel

    This man just confirmed the senator’s report.

  • Israel

    The North was supposed to be amalgamated with Niger because they share similar culture, but it is still not too late.

  • darksailor

    this man has virtually said nothing to refute ita ennags position

  • rumfa shashirgi.

    Thank you Engr.Toyin Akinosho.We need more of you,in Nigeria we stand.

  • Exclusive

    Thank you so much for this enlightenment, highly appreciated. Our so-called Leaders should do well to consult relevant authorities before feeding ua with nonsense. Once again, thank you.

  • Sunday Ajai

    Thanks I now know better. I hope these politians would not destroy this Nation with lies.

  • Very good paid write up,d point is not if d wells are producing or not but its d bais in d allocation.our oil wells were used as gifts to inlaws and friend,used to decorate soldiers for display of gallantry.I can’t imagine having a bad electronics at home and not throwing it away after series of repairs.if d wells are not producing give them to me.infact how much were u paid for dis.nigerians have grown pass dis stage for people like u to be deceiving with bunch of lies.let d president in d name of fairness and equity re-allocate these well

  • Iboro Otongaran

    I am disappointed by Mr Toyin Akinosho’s so-called expert article. He started out with a promising thesis, that the North does not control 83% of Nigeria’s oil wells, which made me to spend my time to go through it. In the end, this guy turned out to be a flop. Senator Ita Enang made a simple claim, that the North owns more than 83% of the nation’s oil wells and went on to do the listing of who owns what and where. Even though the list I read was not exhaustive, it at least pointed to a trend that held up its thesis–most of those listed as owners of oil wells were northerners. Akinosho collaborated Ita Enang’s findings in his so-called expert article that was supposed to disprove Enang’s conclusion. Akinosho’s nitpicking of which well is producing or not is beside the point.
    I expected this expert man to set down a contrary list that would show that people from other parts of country rather than northerners are those who own the overwhelming majority of oil wells in the country. This Mr Expert failed to do that. His article was dump, given its promise in the intro. He should apologize to his readers for filing misleading information and for promising what he knew he never had the capacity to fulfill.

    Iboro

  • Udo Ibuot

    All those calling the Senator names are guilty of the
    acquiescing conspiracy in the senseless opposition by the Northern politicians
    of the proposal for 10 per cent Host Community Development levy for the oil
    producing communities in the PIB.
    Anybody that has been to the oil producing communities would
    appreciate that nothing is too much to do to assuage the pain suffered by the
    people as a result of the extractive activities of the oil companies.
    For Akinosho, there is no doubt that he was out on a fantasy
    ride to advertise his so-called expertise and scoop cheap populism. But, sadly
    he missed the argument. He ended up confirming the Senators argument.
    He confirmed that the oil blocks mentioned by the Senator
    were indeed either owned by some Northern elements, or those from the area with
    significant equity stake holding. Talking about whether those oil blocks are
    producing value is immaterial as it amounts to begging the issue.
    If you steal the skull of an elephant, only to discover
    that there is nothing of value worth your effort, does it remove the fact
    that you stole the skull?
    In attempting to dress the Senator in the garb of a liar, Akinosho
    mischievously lumped all the oil blocks owners in the so-called South together,
    even when he knew most of them are from the South West, where oil is not
    produced. The 10 per cent development levy was not for the entire South, but for
    the oil communities.
    Ordinarily, one should not be talking about who owns which
    oil block if the process was not mired in politics. All these years, the
    Senator did raise the issue of which section of the country owned which oil
    block. Am sure if the Northern Senators did not first attack the interest of
    the oil producing communities, from where Enang comes, the issue would still
    not have been raised.
    If the constitution talks about federal character in the
    allocation of resources, then the allocation of oil blocks should not be an
    exception.

  • Olakunle

    Brilliantly written.

  • Enemona

    For those on this forum arguing on ethnic/regional lines, shame, you’re all victims. The real winners are the Nigerian elites who have become stupendously rich as the rest of you fight each other.

    • jibson

      @enemona, we thank you very much! we are all products of a corrupt system that has made us incapable of reasoning. it is always the northeast, southwest, southsouth`….. or some other stupid primordial sentiment when issues of the socio economic development are raised. the common man is so used to being screwed that he is happy to see that it is familiar face/name from his village or religion who is screwing him & not someone from the next village. so they cheer while being abused and sodomised by a corrupt system that is exploiting these negative sentiments to feather their nests at the expense of the gullible masses. It is shameful the way nigerians are speaking to each without decorum and respect when they should collaborate to solve problems that affect the common interest.

  • dots

    This gentleman only showed us his deep knowledge about the oil choppers in Nigeria. He did not sufficiently dispute Douglas. And he was rude at some point. He also pretends oil knowledge is all you need to understand what goes on. What is the percentage of those who hold the oil fields, against those who do not? What is my business with what you do with the oml? Why don’t i get one and allow it to waste away too?

  • Patrick Amazu

    The man is from one of the parasites state that do not have have oil, what do expect him write bullsheat.

  • Jan Hazo

    An interesting discussion but that all along has been the issue -how the Executice uses power. With the benefit of hindsight one can safely assert that the divisions, cleaveges and distortions were and are deployed to keep us at each others neck while they share the loot as it were. That explains the desperation of the political elites to retain power ar at least be within ear shot of the executive hence the religious, ethnid and regional schisms that are used effectively against out votes.

  • nasman

    One thing you need to know at top level domain nothing like south or north, muslim or christain so beware they are all the same set of people!!!

  • Gary

    Akinosho’s thesis seems to be that the inequity of the domestic oil industry is not the sole preserve of Northern oligarchs but more widespread to include Southerners like the Alakijas and of course, Dan Etete’s celebrated OPL 245 he got from Abacha for going along with the hanging of Ken Saro-Wiwa.

    No mention made, of course, of the Tinubus as new players in the market via Oando. That, as always with sections of the Yoruba media, off limits.
    Pray tell, how these oil blocs were acquired and it it is in the national interest that individuals should Horner for themselves and their families the benefits of a finite resource that should belong to the community and commonwealth at large.
    The Alakijas, like the Ndimis and peers, just treated hungry and jobless Nigerians to a lavish wedding reportedly in excess of a million dollars. This at a time when workers are owed a backlog of salaries and undergraduates sitting at home because their lecturers have refused to continue to provide slave labor.
    The lavish wedding was not even contracted in Nigeria to pump that money into the local economy. No, it had to be done in London, to boost the British economy.

    Good job Mr. Akinosho, the patrons of your industry newsletter will be mightily pleased with this write-up.