In the eye of many citizens of our noble country, The Nigerian government is missing the plot in her efforts to salvage our ailing economy. Nigeria is in a pickle. The future is looking gloomier as many speculate on the plight of our economy. I have heard it all and recently surprised by the postulation and prescriptions of our acclaimed African Bill Gate in the name of Aliko Dangote. While we have $44 billion to receive from our oil multinationals, Mr. Dangote wants us to sell our birthright. It also saddens me that the government of the day out of desperation is thinking in that direction.
I agree with Mr. Dangote on a few such as his advice for the Government to move into action by diversifying the economy as quickly as possible. However, there are some points that I am yet to digest and I wonder why our business mogul would do the same if he is the President of Nigeria.
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Mr. Dangote advised the President to sell assets in order to remain afloat until the better times arrive because according to him, it doesn’t make any sense to keep assets and suffocate the Country. In his own thinking, we should sell part of our joint ventures, part of our shares which is normally 60%. He further said that a company earning $1.5 billion on the average would fetch the government $12 billion and $15 billion respite.
As much as I respect Mr. Dangote, I think taking this step means a further rape of the Nigerian economy and I am certain Mr. Dangote will be well positioned to buy off the $1.5 billion profit yielding business. This is a selfish demand that did not take into consideration the future of Nigeria.
We are still groaning and seeking for a renegotiation on the 60/40 percentage sharing formula of our joint ventures in a bid to get more from our resources and I think we cannot afford to lose our birthright over the morsel of $12 billion.
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In truth, our situation is dare and urgent steps needs to be taken to keep Nigeria alive. The corruption monster is being tackled by the government of the day and we look forward to more revelations, recoveries of stolen funds and convictions. Should corruption and stealing be kept at the minimum, Nigeria stands a good chance of recovery and growth.
Many will ask why I have chosen Corruption in the midst of all problems plaguing Nigeria and the present administration. Having experienced the height of corruption that robbed and prevented Nigeria from a $44 billion income, I know how deadly a deep bite of corruption can be.
On the 5th of August, 1999, the Federal Government confirmed the Invention of a Special Paint by Comandclem Nigeria Limited. This invention is being used by our Oil Multi-nationals to curb the menace of corrosion. According to the law (Patent and Designs Act), the Oil multinationals must pay royalties to the inventor of the special paint. Payment of this royalty now worth over $44 billion dollar will boost our foreign reserve.
However, Corruption was the obstacle and still the obstacle preventing Nigeria from a $44 billion income. Some Nigerians were comfortable pocketing bribes and denying Nigeria this money. The Oil multinationals courted and bribed Ms. Gladys Olotu, a former Judge of the Federal High Court who re-litigated and upturned the verdict of a Superior Court in order to deny Nigeria $44 billion.
Ms. Gladys Olotu was sacked from the Judiciary for a similar offence and under investigation by the EFCC, she was found to own many bank accounts with billions of naira as well as assets home and abroad. The issues she overruled are still being manipulated in court after a decade and ultimately standing as obstacle before our $44 billion royalty destined to bring Nigeria out of recession.
A taxable $44 billion addition to our foreign reserve is a treasure we must unearth today while the window of opportunity is still open. Rather than take Mr. Dangote’s advice of selling more of our joint venture to the Oil Multinationals for a morsel of $12 billion and lose yearly profits of $1.5 billion, we can demand our $44 billion from them and have it.
The Nigerian government under President Goodluck Jonathan dealt with corruption by booting the corrupt and judgment auctioneer from the Judiciary. However, her removal will not take us out of recession. It is time for Nigeria to call the Oil Multinationals to a round table and request our $44 billion royalty on Patent RP13522 invented by Comandclem Nigeria Limited. We are sure Mr. President is capable.
Chief Ken is an advocacy Writer and an Officer in Comandclem Nigeria Limited
The Inventors of the Anti-Corrossive Special Paint. RP 13522
07035052057
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