The British Prime Minister called for global attention to the epic, looting and economic terrorism that is completely destroying Nigeria. Presidential spokesman Reno Omokri denied these revelations and accusations of the British Premiere, but this link proves: https://www.gov.uk/government/speeches/prime-minister-david-camerons-speech-to-the-world-economic-forum-in-davos Premium Times on the 12th of November, published startling findings of a 7 billion dollar hole in Nigeria’s oil revenue retrieval, with the NNPC implicated along with Swiss oil dealers. In the report from the Berne Declaration, a Switzerland based anti-corruption NGO (http://www.evb.ch/en/p25021690.html); it was shockingly exposed that Nigeria’s oil was being sold below market price in an elaborate inter-continental scam involving the petroleum ministry and foreign cartels, operating in financial lax Switzerland. The harrowing report from the Berne Declaration which includes a distressing 20 page BD Research detailed publication “Swiss traders opaque deals in Nigeria” (http://issuu.com/erklaerungvbern/docs/bd-nigeria-en-20131101?e=3524425/5474605#search), exposed in detail, numerous looting operations of the Nigeria oil marketing sector. Some issues highlighted: Nigeria is the only major producing company that sells 100% of its oil via private intermediaries, thus the nation loses in extra revenue swallowed by the oil baron cabal. These middle men, “brief-case holders” act as “letter boxes” for PEP’s (politically exposed persons) –the well-known and hidden Nigerian cabal. 2. The irresponsible secret calls for tender, a common practice in Nigeria; this of course is a setup between parties to get kickbacks in billions, and sell the nation’s oil at treasonous prices. Most of Nigeria’s oil is marketed through the Switzerland channel. Well known is the multibillion fuel subsidy scam which the ministry of petroleum allowed to fester for years, effectively robbing Nigeria of more than N2 trillion. No one has yet been held accountable for any of these elephantine pilferages.

Nigeria’s minister of the economy, Ngozi Okonjo-Iweala has stubbornly denied that the nation is broke. This is far from the truth and reality on the ground. Multiple sources within all arms of the Federal government acknowledge that Nigeria is broke and unable to take care of it financial obligations to the people. The budget for the fiscal year, 2012 was 5 trillion naira, this is about 30billion dollars. The total revenue earned from oil sales in the same year, according to British Prime Minister David Cameron was 100 billion naira. There is a gross discrepancy in the budget – not inclusive of actual funds disbursed—from the total earnings in oil revenue. This gap can only be accounted for if Nigeria paid in amortization on its foreign debts to the tune of 70 billion dollars. However in this same period, Nigeria has accumulated greater foreign debts and its 2012 repayment figure was $246,663,000 according to Index mundi. The total foreign debt stands at $6.7 billion. Clearly, foreign debts are not where our massive revenue from oil is going. The government in this period, rather also embarked on schemes to tax the masses via removal of oil subsidies and other schemes to supplement capital for government expenditure. More of such are put out almost every day. But despite increased taxation and levying, there is no money in the economy, as looting has completely drained the nation’s coffer of all wealth. Nigeria’s domestic debts have also been catapulting as the nation awards contracts but cannot afford to pay the contractors. This domestic debt currently stands at over N6.1 trillion. If not the ASUU strike, then the recent riots over none payment of stipend by Niger Delta Amnesty militants in Russia, highlights the disturbing reality of the broken state of the economy; even pet and prized projects and national security concerns of the administration in which they have the most vested and regional interests can no longer be sustained and funded. Following the money—in this same period of rising domestic and foreign debt, Nigeria is making more and more “businessmen” and oil oligarchs, billionaires in dollars.

Compounding the acute lack of capital in the nation, implicated on looting of oil revenue by collaborations involving the ministry of petroleum with its family of international business stooges and a cartel of oil barons, is an artificial, politically motivated capital constriction. As is a common dirty practice in Nigerian politics, the ruling administration purposefully starves the nation of circulating capital to bring the nation to its knees ahead of elections, with aim to manage the release of this capital through the subservient, to influence votes. This artificial, criminal crisis instigated two years to the next presidential election has created a potentially unrecoverable economic catastrophe.


Read the full article here:
http://saharareporters.com/article/nigeria-broke-trillions-oil-revenue-looted-dr-peregrino-brimah

Na wa o

Fresh air as finally gotten to UK

Who's british pm? The shame person that could not secure the votes of parliments to tacle Syria? Thunder fire him for merging Biafra with Nigeria

Very soon na Ghanaian president go dey analyse corruption in Nigeria.
Something urgent needs to be done abt our political leaders for giving national disgrace.
Abeg btw politician and yahoo guyz who disgrace naija pass? ;DVery soon na Ghanaian president go dey analyse corruption in Nigeria.
Something urgent needs to be done abt our political leaders for giving national disgrace.
Abeg btw politician and yahoo guyz who disgrace naija pass?

Nothing need to be done about nigeria,the fact we keep dening is that this nigerian project of unity can not i repeat can naver work becouse its encurage laziness,wast corruption etc,the solution is let nigeria divide,brithish merged nigeria for the sole aim the eat our oil but unfortunate its the swize that are doing such if not tell me why the crated nigeria?who do not have any relationship love nor trusth:.............divide this nation U N

chidindufrank: Who's british pm? The shame person that could not secure the votes of parliments to tacle Syria? Thunder fire him for merging Biafra with Nigeria

What a redundat oaf you are! What has that got to do with these mind buggling revelations? And what the fvck is 'the shame person'?

I weep for Nigeria.

Nigeria is a joke, the world's largest stand up comedy stage.

omenka: What a redundat oaf you are! What has that got to do with these mind buggling revelations? And what the fvck is 'the shame person'?

If you don't have any knowledge of poetic english,get lost. The shamed PM should focus on how to protect his bleeping country from the hands of terrorists butchering his soldiers infront of tv cameras.Britain caused our problems now that we have GEJ as our leader, our problems are getting lesser and the ediot is not happy about our progress. Thunder fire Britain

I am YET to knw why Jonathan have choosed to loot the country dry. The same man that said i had no shoe. Wat suddenly happened to his conscience, why jonathan, why?

what is wrong with some people. did anybody bother to check out the link which has a totally different story from what the op wrote up above?
and some people quickly jumped to conclusion without bothering to confirm!

what is written in the link: https://www.gov.uk/government/speeches/prime-minister-david-camerons-speech-to-the-world-economic-forum-in-davos which is about foreigns cartels that trade on stolen resources from africa at costs more than enough to offset the total donations from westerners in aid!
the op is a liar and should be banned!

Nigeria is a good case study on corruption. I recommend all worldwide universities to include this case study in there business studies curriculum

Nonybb: I am YET to knw why Jonathan have choosed to loot the country dry. The same man that said i had no shoe. Wat suddenly happened to his conscience, why jonathan, why?

Asked him more WHYs f000l...well, let me answer you WHY...because looting is not only for the North or West... you want only your region kins to be kings...you lied...kings has to be made in all region....the igbos are yet to loot their if you must know

bump! Jona will end up worse than all the presidents before him! He is a black criminal!

If you don't have any knowledge of poetic english,get lost. The shamed PM should focus on how to protect his bleeping country from the hands of terrorists butchering his soldiers infront of tv cameras.Britain caused our problems now that we have GEJ as our leader, our problems are getting lesser and the ediot is not happy about our progress. Thunder fire Britain

c madness @ its peak