This Day (Lagos)

Nigeria: Oil Sector - National Interest Should Be Paramount

Lagos — As Asian countries, notably, China are emerging strongly as African partners in the economic development mostly in the oil sector, Director General of Nigerian Institute for International Affairs, Prof. Osita Eze, has charged the political leaders for the full maximisation of the national interest for the benefit of its citizens.

"Oil is the base of our energy and economy, and it is interesting to know that the emerging partners in the sector will have great impact, therefore, Nigeria must insist on the maximisation of national interest most importantly for economic benefit and empowerment of its citizens," Eze said.

Eze spoke in Lagos during the presentation of the Chatham House Report captioned "Thirst for African Oil Asian National Oil Companies in Nigeria and Angola", led by researcher Markus Weimer from Germany.

The report, which was done in collaboration with NIIA was encapsulated in the fact that the emerging partners will capitalise in the areas where the traditional partners (Western countries) failed in bringing succour to the citizens of the country with their vast resources.

"Africa leadership is at present insufficient and activism and vision that characterised the first few years of the 21st century are less in evidence now. This is dangerous because without strong, effective leadership the competition for Africa's resources may degenerate into the kind of colonial exploitative scramble from which much of the continent has only recently begun to recover.

"The citizens of Western countries are understandably weary of continued calls for more aid to Africa, particularly in the aftermath of the recent global financial crisis. Aid is a very necessary safety net, but it's not a springboard. It will ultimately deliver the development Africa needs only if it is used in support of private-sector-led growth and stability. Emerging economies are capitalising on this," the Chatham report said.


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