Manage your oil wealth well, Venezuela urges Nigeria
The Minister of Information and Communications, Dora Akunyili, yesterday got more than she bargained for when Enerique Fernando Arrundell, the Venezuelan Ambassador to Nigeria, used the opportunity of his visit to her office to tell Nigerians some hard lessons on how to manage, develop and utilize their God-given natural resources for the benefit and good of all.
The envoy, who was responding to an appeal by Mrs. Akunyili to help woo some of his country’s investors to come in and establish refineries under the federal government’s planned deregulation of the downstream sector of the nation’s petroleum industry, advised Nigeria to rather look inwards and to take full control of the industry.
Though, he acknowledged Venezuela as a prominent member of the Organisation of the Petroleum Exporting Countries (OPEC) like Nigeria, he said his country will be willing to collaborate with the federal government to develop the industry.
The hard truth
Mr. Arrundell said, “In Venezuela, since 1999, we’ve never had a raise in fuel price. We only pay $1.02 to fill the tank. What I pay for with N12,000 here (Nigeria), in Venezuela I’ll pay N400. What is happening is simple. Our President (Hugo Chavez) decided one day to control the industry, because it belongs to the Venezuelans. If you don’t control the industry, your development will be in the hands of the foreigners.
You have to have your own country. The oil is your country’s. Sorry I am telling you this. I am giving you the experience of Venezuela. We have 12 refineries in the United States, 18,000 gas stations in the West Coast. All we are doing is in the hands of the Venezuelans.”
The envoy said, “Before 1999, we had three or four foreign companies working with us. That time they were taking 80 per cent, and giving us 20. Now, we have 90 per cent, and giving them 10. But now, we have 22 countries working with us in that condition.
It is the Venezuelan condition. You know why? It is because 60 per cent of the income goes to social programmes. That’s why we have 22,000 medical doctors assisting the people in the community. The people don’t go to the hospital; doctors go to their houses. This is because the money is handled by the Venezuelans. How come Nigeria that has more technical manpower than Venezuela, with 150 million people, and very intellectual people all around, not been able to get it right? The question is: If you are not handling your resources, how are you going to handle the country?
“So, it is important that Nigeria takes control of her resources. We have no illiterate people. We have over 17 new universities totally free. I graduated from the university without paying one cent, and take three meals every day, because we have the resources. We want the resources of the Nigerian people for the Nigerians. It is enough! It is enough, Minister!”

wow, are you sure the ambassador said all that? The other time Hilary Clinton said similar thing they were up in arms against her. We have lost respect in the comity of nations and nobody take us serious again. The people are not benefiting anything from our oil find, 50 years down the drain, we dont have light, no water no road. our leader doesnt have conscience, all what they are interested about is how to steal and steal. Time will tell.

I can't see the source of the original, but came across this article which contains elements of the poster's article.

@ poster, I think you should add your source.

@N101 You can verify the source from
- http://234next.com/csp/cms/sites/Next/Home/5485512-146/story.csp

This is just an external echoing of the fact that we are not managing our own resources, when we can!
We have been made to buy the idea of Globalization in a negative approach. A country that fails to take care of itself will be 'taken care' of by others. You must satisfy yourself with what you have before you begin to search for what you don't have. In the law of comparative advantage, i wonder what Nigeria have in it entirety to offer to other nation.

May God keep us save until a good Leader will arise

Hugo Boss!

@ficasej,
Thanks for posting!

I dare Nigeria to manage its oil wealth effectively. . .
Venezuela shouldnt be telling us what to do, Nigeria, it is bloody common and basic sense stuff, MANAGE it well or GET RUINED well!

Hugo crap.
using his country's resources to massage his communist inflated ego.

mbulela:

Hugo crap.
using his country's resources to massage his communist inflated ego.

We love strong and focused leaders, not the klan of kleptomaniacs in Nigeria!

Hugo is focused on his oversized ego only.

mbulela:

Hugo crap.
using his country's resources to massage his communist inflated ego.

No matter what the resources is used for, at least their citizens are not paying as much as Nigeria is paying at the pump

@ Mbulele
I am not a fan of style of leadership. I do not advocate for any form of government, whether it is communist, socialist, capitalist, or presidential system, what i advocate for is qualitative leadership.

The type of leadership that puts smile on the faces of its citizenry. If Venezuela's style of leadership will put smile on our face, then let it be!

The nigerian govt. is never interested in its own people but prefers d big brother gestures. I hope akunyili will pass d WAKE UP CALL TO HER BOSS. We need 2wake as nigerians and take our destiny in our hands

The problem with Nigeria oil management is not that the leaders are not aware of what to do, rather it the choice of what to do that is treating that sector.
Our leaders believe in short term measures that will favour them while they are still in the government. They believe in the cycle of 'produce sell and buy' even at international price at the detriment of its citizens. They will even present the picture of ''subsidizing'' the product thereby diverting from the bone of contention.

Until we start refining all of our product and market same, the destiny of our God giving resources remain in the hand of strangers - no matter the level of local content policy we advocate

@

Finally, someone has told us the home truth. I pray they listen but will they?

He speaks the truth, the whole truth and nothing but the truth.

And every single one of us knows the truth!

We are just too greedy to share the goodies with the next man, ask the man who is complaining now what he'll do when he becomes the president of Nigeria.