U.S. Oil Imports From Africa Are Down 90 Percent – Businessweek: Comments

The shale oil boom has boosted U.S. production from 5 million barrels a day in 2008 to more than 8 million

Silently, we saw this scenario coming long ago, but obviously did nothing about it. But for the emergence of China, South Korea and Brazilian manufacturing complexes, the story of Nigerian oil would have been like Enugu coal. Even though China is stabilizing the international price for now, these industrialized nations have also all been investing in shale oil for local sustainability. By any chance of their succeeding, couple with the increasing roll-out of electric cars and gas powered trucks everyday, soon the power of oil will become less potent. Such scenario surely will create political chaos in Nigeria, Libya, Angola and Venezuela because they have foolishly misappropriated the oil money for decades. It has already started about 3 years ago.

Good reference is the deceits and wastes going on in Osun State, where projections on oil money shared from Abuja monthly propel the present Gov. to obtained loans for funding controversial infrastructures and social services. When infrastructures like roads, roundabouts, water fountains, etc don’t earn money directly to an investor, they become big liability overtime. Yet, futuristic generation have been indebted into controversial loans with accumulated interest. SLAVERY! SLAVERY!! SLAVERY!!!..
Good politicians become great leaders by buildings schools to expand access to quality education. Not reduce numbers to choke them! Importantly too, creation of jobs for the citizenry is the best tool for economic development. A leader who has no clue about creating jobs for her increasing population definitely is not a good leader one.


May 24, 2014.


Prof sir,

You have responded well as an unbiased witness. I appreciate it greatly. But, respectfully sir, there are too many wastes you seem not to care about. What is shrouded in the issue is the cost attendant to the controversial activities. We all know that opening of new roads and provision of infrastructures are part of the normal responsibilities of Government official from head to the lowest ranks. As elitist citizens, we ought to be concerned about how prudent our funds are been managed. We should NEVER use the yardsticks of many who have failed to cover illicit activities of fascist who is doing the bidding of a godfather.

If the Government in Osun is so sure of her servitude, figures attached to those fundings ought to be released as at when due. In Osun’s case, the figures are not forthcoming. Even in the other State notoriously famous for emblezzlement of public funds from the source, we still see good roads being built, bridges been built, etc. So for any Governor in dispensation like Osun to borrow billions for the so called road construction, we MUST ask questions. How much did Chief Akande borrow to build the many roads and infrastructures he built?Was it that previous administrations particularly that of Oyinlola did not build roads or any infrastructure? Surely they did. What sense is there building the longest tarmac in a remote area like Ido-Osun? Was there a cost benefit analysis or someone just ordered it by fiat?

Sir, we need to make our elected officials act responsibly. Not dictatorially. The regime in Osun wasted much money on fanfare and fantasy than quality. I am a chartered Urban Planner. I know the subtance of structures from afar. Those school buildings are not structurally good for public buildings. They cannot endure for long. I mean, what we see is call color coating to deceive. Let them tell us how much was spent for each of those block of classrooms and the landscaping so we can compare and contrast.

Having said the few above, should there be borrowing despite the monthly cache from Abuja? Why seek election into the office if borrowing to run government is the way you know? To understand my grouse properly, Chief Awolowo and his team’s 4 years transformed the entire Western State with money earned from peasants within. The legacies speak for themselves. Aregbesola has spent 4 years also. Despite the improved technology, despite the smaller land area and despite the billions from Abuja monthly, if overpopulated school structure and big debt will be the legacies, we ought not be blindfolded to the reality.

Sir, I know you are from Osun State. Please explore the recently-released WAEC results and find out where Osun belongs. Several billions have been allegedly spent to provide quality education, nothing has shown in the results of the students despite 4 years in the saddle. Something must be missing. Records speak better than propaganda.




Dear Adetoye:
We live in a world of relativity. After many years of being away, I have had the opportunity to spend some time on the ground in Osun, and so I offer my humble opinion about the situation there.
First is my opinion of what type of country we have, and what type of economy exists there, hence  what type of investments are motivating those who really are making an effort for positive change. It is common to refer to Nigeria as a country. It is however more accurate to refer to the territory as a trading post. The mainstay of the economy is trade, at practically all levels. You and I may wish that we had a more productive economy, but the sad truth is that everyone goes about buying and  selling. The major infrastructures that facilitate trade is transportation infrastructure, i.e. roads, train stations, and yes, roundabouts. In relative terms, someone who is investing in transportation infrastructure in an economy driven by trade, should be applauded, not derided. I will be the first to list for you a long list of infrastructures that will move the State towards more production, but I also will tell you that no one will vote for you if you spend money based on my suggestions. That explains why I am not a candidate for any office.
Again, as regards to the restructuring of the schools there, if we are to set aside electioneering propaganda, the difference between what  was there before the current administration and what is there now, is like night and day. You have to  see for yourself, and interact with the minds behind  the plans. Because politics clouds everything in Nigeria, you cannot go by information generated by those who have something to gain by just being disagreeable.
As it pertains to the ability of the State to function outside the constraints of a hostile federal allocation sector, you have to consider the basic economics of the situation. First of all,  in today’s financial markets, no one will lend you money without having established that  you are able to pay back, and that tangible assets are created to assure the persistence of the investments. We should also make a distinction between borrowing to facilitate economic growth and borrowing to throw lavish parties.
Ayinde Fabunmi
May 23, 2014.


Hello Adetoye:
I have to confess to you that I stopped reading the rest of your message as soon as I encountered the following statement:
“illicit activities of fascist who is doing the bidding of a godfather”
It’s either that we have different definitions of the word “fascist” or we are not discussing the same subject.
Ayinde Fabunmi.


FRIDAY, MAY 30, 2014.  6:34 p.m. [GMT]

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