By SUNNY IKHIOYA
We have started another cycle. A war in far away land is beginning to have a negative impact on our economy. Fuel prices have spiked, and the resultant effect is inflation. The groaning of hardship that subsided not long ago has suddenly resumed, and if care is not taken, it will soon spin out of control. They say the world is a global village. What affects one affects the whole; but is this not what President Donald Trump has been trying to dismantle since his return for a second term? If we are producing crude oil and already have one of the largest, with latest technology refinery established in our land, why should we be so adversely affected?
Who benefits from the present challenging situation? Are we not supposed to use our God-given advantage to maximum effect? Do we have to suffer because we want to be politically right with the business world? Which is in our interest, the world or us? These are questions we need to answer sincerely if we want any good to come out of this situation.
Meanwhile, the oil barons and capitalists are hovering around like vultures, ready to make a kill out of the whole situation. The UK government has warned oil companies not to capitalise on the situation. I understand Trump is doing the same in America. What are we doing here in Nigeria? Must we always continue with the old story of international benchmark prices for oil? According to reports: “The Trump administration plans to release 172 million barrels from the Strategic Petroleum Reserve as the war with Iran drives economic concerns and rising gas prices.” This gesture is to bring stability to gas and petrol prices.
In the same vein, China did not only release from their reserves, they also suspended fertiliser export at this crucial time that the United States and Australia farmers needed it. What are they doing? They are protecting their interests, irrespective of the global trade rules. You will then want to ask: Why is Nigeria not toeing the same line? It is pretty obvious that the Dangote Refinery can conveniently make fuel available to the Nigerian market if they can get adequate supply of crude oil from the NNPC and IOCs operating in Nigeria. It is also obvious that following this path will bring down the prices of fuel to a considerable level to the benefit of the average Nigerian citizen.
Why are we jettisoning that path? Instead, we use OPEC and other vague excuses to cover up. Which one is more important? The welfare of citizens or OPEC. This is not possible because of the capitalists in our midst. The primary motive of the capitalist is to make a profit and not necessarily to make the people happy. They control the system and promote free-market economies, which enables them to control prices. It does not matter if the people are suffering.
As long as profit is involved, the capitalist is happy. That is why they can afford to import bad fuel into the country, causing damages to cars, machineries and other business interests, while they smile to the bank. That is why every sub-standard item comes freely into the country, and no one takes action. That is why ammunition importation and smuggling occur regularly, causing death to thousands of Nigerians, and the dealers smile to the bank. That is why politicians do not care because they are the beneficiaries of such a rogue system that is designed to favour only the rich and the politically-connected. That is why there is darkness in the entire Nigerian space today. The capitalists do not care, their interest is their profit, and other things can go to hell.
If America, for reason of this war, can release their reserves, and China doing same and also stopping export, and India monitoring their export, why can’t we concentrate on feeding our local stock first before thinking of exporting. Is anybody looking in that direction, or do we want to sell our crude and end up importing at very exorbitant rates? We have to think Nigeria first. Government has done well in building the confidence of the international community; but it does not end there: the wellbeing of people at home is paramount. The way government has run its affairs these past three years is purely in line with the capitalist model. All the noise about palliatives and social welfare programmes does not get to the grassroots. The leaders and politicians are just satisfied with distributing things among themselves in the manner of the die-hard capitalist, and this is creating room for the increasingly multi-dimensional poor segment of the society. So, we have a capitalist government that cares for only itself and fellow capitalists in the business world, and all of them are shining in the eyes of the outside world and earning commendations, while the majority of citizens suffer in the face of acute power shortage, insecurity, poor roads, etc. Even basic food is absent in so many homes.
Government revels in conspicuous consumption and waste. Take a look at the size of the government delegation to the UK for the president’s visit. Imagine the cost implication, its impact on the public purse. Why have successive governments refused to prioritise the needs of Nigerians over foreign interests? It is the reflection of the capitalists in our midst. No matter what happens, no matter the situation, they always come out as survivors of our decadent systems. They adapt to the changes and flow with such, no matter the government in control. That is why every hope, including the much touted renewed hope, continues to hang in the air, leaving the people more frustrated.
Any government that cannot meet the basic needs of its citizens is not worthy of the privilege given to it. That is why the prevailing situation and the condition of Nigerians should not be allowed to degenerate because of the America/Israel versus Iran war.
Our resources should be used to take care of the citizens. So, government should instruct NNPC to sell crude oil to Dangote and other local refineries at a reasonable rate, based on naira valuation. It is by so doing that the people will enjoy the benefits of their God-given resources. Any other way is mere foolishness and falling for the tricks of our ever-lurking capitalists.
• Ikhioya wrote via: http://www.southsouthecho.com
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