Nigeria: Dark Cloud Over 2013 Budget As Nigeria Loses U.S. Crude Oil Market

28 January 2013

Nigerians whose pastime is bickering over oil resources may soon find out that what they consider as the goose that lays the golden eggs will no longer give them the resources to steal from. Oil may soon be selling for far below the 1982 price level. No thanks to President Barack Obama who, during his first term inauguration urged Americans to find a solution to the country's continued dependence on external oil. Five years down the line, America is almost self- sufficient in oil production and is now turning down offers from traditional suppliers.

America is one country where when the government decides on a line of action, it follows through. But in Nigeria, for over two years now, the issue of the Petroleum Industry Bill passage has been with us without progress. While others are busy finding alternative to crude oil as means of energy, Nigeria's policymakers are busy stealing the little resources available to diversify the economy. Shamefully, just last week, former President of Botswana said at Daily Trust Forum that it amounts to criminal negligence for Nigerian leaders to continue to steal the people's resources entrusted to them through corrupt practices.

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