How OPEC is aiding corruption in Nigeria


How OPEC allocation assists Corruption in Nigeria.

The objective of OPEC is to regulate crude oil production among members, to prevent flooding the oil market, to attain this, population was never a criteria for the member allocation rates, hence, Nigeria a member since seventies with almost 200 million population got pegged to less than 3m barrels a day while nations with lesser populations because of their oil reserves they determined themselves before we joined the Cartel got more.

Ordinarily, Nigeria without being a member of OPEC can produce and sell 5m barrels a day, it could use the oil to develop the second and third stages of oil, Chemicals and allied industries, we could have acted like the British when they discovered oil in the eighties.

Despite OPEC 2.7m barrel a day allocation, illegally production of additional 2.3m crude oil a day became the order of the day, the instrument of measurement, kept by the multinationals with fake oil figures given to the NNPC in partnership with the cabals, they share the proceeds from more than 2.3m barrels a daily production without records.

Some of them, the Cabals, mostly retired Generals established refineries outside the country, they shipped the stolen and unverified crude oil production to refine and resell back to Nigeria.

In partnership with these criminals the government and NNPC refused to maintain all the refineries in the country, and no new one was built, to do otherwise, would be to destroy this illegal business going one since General Gowon joined OPEC in the seventies.

No one has been arrested, few years ago, some Philipino were arrested at sea with stolen crude oil from Nigeria by the Navy out of ignorance for the nature of the deals, no one went to jail nothing could be mentioned as the outcome of that illegal deal.

It is either the Nigeria Navy is now in cohort with oil deals as no further arrests could be recorded since the case of the Philipino.

The process from the crude oil 2.3m barrels a day is so much the FGN did not check illegal mining going on in other parts of the country, Zamfara State rich in Gold and Diamond and other minerals is now illegal place with FGN looking the other way.

To be continued.


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