Nigeria News

Buhari’s Hard Fight With Oil Magnates

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Nigeria News takes a look at the plan of President Muhammadu Buhari not to renew the license of some oil magnates who own oil bloc in the country.

The country’s wealth is in the hands of a few. The oil blocs are shared among those who are friends of the past governments.

Many of them from the north. They are northerners but own the country’s major resource that is explored from the South.

Despite the perennial protest by the Niger Delta people on resource control, successive governments have turned their deaf ears to the region.

We learnt that a former President from the southwest exchanged oil bloc to satisfy his sexual urge and another former President from the South knelt between a woman’s laps in an exchange for an oil bloc.

The leaders oppress the masses with the proceeds of loots and share the commonwealth among their cronies. The country suffers each time the price of oil falls in international market. The budget fails to perform.

We also learnt that the licenses of the oil magnates are due for renewal but the present government may not approve this.

Let the oil blocs go to the states. Take it away from individuals; that was President Muhammadu Buhari’s agenda if he wins in 2019.

But the oil dealers are bent on stopping Buhari so that the business will go back to the time of the old when the rich were richer and the poor were poorer.

But Buhari’s government has not made the poor richer either. It has been the excuses upon excuses. The masses are groaning in financial pains. University students are out of school because their lecturers are on strike over poor state of the citadel of learning.

Many Nigerians prefer the old way of free money to this hard time of no money. But the question is, shall the country go back to the old formula, seasons of impunity with money circulating around oil bunkers and their allies?

Learnt that some of the governors on the platform of the opposition, Peoples Democratic Party (PDP) were secretly fraternizing with Buhari because of the promise of oil bloc to their states.

Buhari’s plan is to take the oil bloc from individuals and give it to states to manage. This will increase the Internally Generated Revenue of the states. So it was gathered.

The states become richer, able to pay workers salary. It puts an end to Federal Government spending of the Paris Refund on states salaries.

Will the PDP and its candidate Atiku Abubakar be able to save the oil magnates from Buhari’s brutal plot? Atiku is closer to the oil dealers. He had romanced them for years, as former customs chief and ex-Vice President.

But Buhari is closer to the masses, mostly the uneducated and uninformed multitude from the north who never tasted from the drops of oil being managed by their rulers for decades. The state governments in the north distribute wheelbarrow to the poor as their own way of alleviating poverty.

The northern elites are Atiku’s stooges but they are few in number. Election is knocking but money is not flowing as it was in the past when politicians distributed dollars to induce voters.

The oil magnates are being careful on spending for the fear of the future. What if Buhari wins, what is their hope?

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