IT'S NOT A SPADE, STUPID!

There's never a dull moment in Nigeria, is there? A lot of issues concentrate the minds at the moment; the least of which are not the insanely ludicrousness of our security situation, the seemingly unabatable looting of the treasury and the unrisible debacle that is the oil downstream sector.

Firstly, and most importantly, isn't it about time serious questions got to be asked about the competence (or the lack of it, for that matter) of our security operatives? Why was the emerging threat of Boko Haram not nipped in the bud? Don't they say a 'stitch in time saves nine'? If the stupendous amount of our money being spent on security cannot bring this situation under control, then one has to come to the not unkind conclusion that our security operatives are patently hopeless. This goes back to the heart of government, I'm afraid. A government that cannot guarantee a serious level of security to its citizens is, unarguably, not fit for purpose. If such a devastatingly effective terrorist group such as Boko Haram cannot be contained, what hope is there to confront an external threat? How many more hundreds have to die before a lasting solution is found? The lack of a credible and cohesive strategy to combat this monstrosity is beyond comprehension. The population has been left defenceless and utterly fearful. Heads must roll at the heart of government, the Army and the Police, to prevent hundreds more of ordinary citizens' heads from rolling. Which part of the word 'security' doesn't this confused administration get? The sooner they come out of their stupor the better, and safer, for us all.

Secondly, isn't it worth noting that the whole antigraft drive has gone a bit under the radar lately? Not much is being heard or read of strenuous efforts being made by the EFCC or the ICPC to expedite the arraignments of indicted persons. Or is it me being unreasonably impatient or irascible? Isn't it a slap in our face and an insult to our sensibilities that many of these indicted rogues still parade themselves in the corridors of power? They grin and we bear it. Most of the problems confronting us today are traceable to unchecked corruption. How many of the billions of Naira allocated to Security, for instance, can be accounted for? A lot of our money is actually funding the very threat we proclaim to be waging a war against. Is it that daunting to see the correlation?

Now, the oil downstream sector, the perfect embodiment of the evil of greed, cupidity and unsurpassable wickedness. This hapless government and the ones before it are the enhancers of, and collaborators in, this massive fraud. Why and how? Let's take a look at some figures.

The dire dearth of refinery capacity serves as a perfect foil in any attempt to bring sanity and much-needed accountability to the downstream market. Of all the 12 current full members of OPEC, Nigeria has, effectively, the worst P:R (Crude Oil Production:Refinery Capacity) ratio of 4.60 (Source: OPEC: Annual Statistical Bulletin 2010/2011 Edition). This matters because the lower the ratio, the less we would have to import and the less the government would have to subsidise. Simple, common-sense, no-nonsense economics. The three with worse figures are predominantly exporting countries with much lower population figures, and thus, require less domestic consumption: Angola (pop. 19.05m, P:R 43.36), Qatar (pop. 1.70m, P:R 9.16), and UAE (pop. 4.74m, P:R 4.99).
With proven crude oil reserves at 37.20 billion barrels, oil will dry up in less than 50 years from now, given the current extraction rates. Now, what will be our legacy to future generations? Again, how Nigerian officials blindfolded OPEC is a mystery. Nigeria is the only country in OPEC that exports more oil than it produces! How can you produce 2,048 mbpd and export 2,464 mbpd? Was that a typo or what? Typos abound in this country. In Nigeria, you'd be 'unwise' to call a spade a spade, for you'd be admonished and told in no uncertain terms "it's not a spade, stupid!".
Isn't it obvious that Nigerians are being held hostage for the benefit of a few thieving individuals and corporations? Politicians and public officials raking in millions of dollars each day while their compatriots wallow in acute hunger with no electricity and potable water; die of preventable diseases and on deathtraps disguised as roads. Our politicians have no shame; our public officials have no conscience; our law-enforcement agencies and the judiciary have blood on their hands. In the meantime, millions of Nigerians don't know where their next meal is coming from; don't know how to deal with their individual afflictions; don't know if their offspring will ever get a decent education. Hopelessness and despair are common denominations. Isn't it time for this sop of a President to come out fighting with all guns blazing? These devourers of our commonwealth will get their comeuppance sooner rather than later.