Date Published: 11/15/09

Petroleum Deregulation; Open Letter to the National Assembly and President UM Yar'adua. Why all Nigerians must say No now. By Ndiameeh Babrik

When the American Secretary of State Hillary Clinton visited Nigeria in August. On August 12 to be precise, she told all Nigerians and the whole world that between 1979 and 2009 which is a period of 30 years, Nigerian government officially of those times stole whooping 300 billion US dollars from the national treasury and her source was the World Bank.

Those in doubt of the facts of these monumental stealing can still check these facts from wikipedia on the Internet.

300 billion dollars of the Nigerian national wealth was never stolen by ghost of spirit. It was stolen by Nigerian government officials who arrogated to themselves the authority to rule Nigerians either through coup d'etat or rigged elections.

Umaru Yar'adua and his own men now see this time and can see this as their own opportunity to still steal from the public treasury. Of all the monies that have accrued to this his lame-duck government since May 2009, can he explain one viable project he has executed to show for it.

Apart from General Sani Abacha who is dead, all those who ruled like Nigeria like their personal empire from 1979 to 2009

 and made a personal fortune out of it by stealing the 300 billion US dollars mentioned by Hillary Clinton are still there in Nigeria.  Umaru Yar'adua government must stop the petroleum industry deregulation process immediately and call those who superintended over the stealing of the 300 billion US dollars to explain who stole what and at what time. If Umaru Yar'adua is not bold enough to initiate this process because he is probably part of them, then we call on the National Assembly since they are the people's representatives to initiate that without delay.

If the above measure is not initiated, the so called downstream petroleum industry sector deregulation is the usual gimmick by those in power of the day to steal their own share of the proverbial 'national cake'. Otherwise how come that this deregulation that started with the evil regime of Ibrahim babangida in 1986 has continued for the past 23 years. Whenever a new administration comes to power, their only blue print is always petroleum industry deregulation. When we check the petroleum industries in other countries like Libya, Saudi Arabia, Gabon, Angola and many others, there is nothing like deregulation or fuel subsidy removal at all there, therefore something must be wrong with the Nigerian system. Mr. Yar'adua sir, deregulation of the petroleum industry is not the answer for now please probe the 300 billion US dollars stolen from Nigeria between 1979 and 2009 or you may even restrict the probe to May 2007. We have heard so much removal of petroleum subsidy since 1986 yet nothing good has come out of it apart from the PTF.

Therefore I appeal to the Nigeria Labour Congress (NLC) our only hope for now to table the above proposal to the Nigeria government that let them probe how 300 billion US dollars was stolen from Nigeria between 1979 and 2009.

I can assure you that even those who participated in the national stealing may read this article and will still go to sleep fine as if nothing has happened.

All trade union organisations in Nigeria and all other professional unions must act in unison now to shot down this petroleum industry deregulation once and for. I urge the Nigeria Bar Association (NBA), the Nigeria Medical Association (NMA), the National Association of the Nigerian Nurses and Midwives (NNANM) and of course the great ASUU and all other unions to say no to deregulation of petroleum.

You can be rest assured that if Yar’adua succeeds, the next administration after him will still tour the same line. This is what we have witnessed since 1986.

Please probe how 300 billion US dollars was stolen from Nigeria between 1979 and 2009 first before we will accept this deregulation this time. That is the sensible thing to do Umaru Yar'adua stay action on deregulation for now.

Please pass this article to the Nigeria Labour Congress (NLC) and Nigerian National Assembly if by chance you stumble on it.

Please pass it as well to the EFCC and ICPC and the Nigeria Police Force, may be they might use it as their initial evidence when they start the investigation into the stealing of the 300 billion US dollars from Nigeria between 1979 and 2009.

In fact their jobs are even made easier since we have Nigerians in highly placed positions at IMF and World Bank who will willing and eagerly gave them the relevant information since Hillary Clinton quoted the World Bank and IMF as her source of information in her Abuja speech. I am talking of Dr Ngozi Aweala and Dr Oby Ezekwesili now. All those concern with the investigation need now is the patriotic will and the courage to start the investigation and the probe.

No to petroleum deregulation, yes to probing of 300 billion US dollars stolen from national treasury between 1979 and 2009.

God bless Nigeria.

Thank You,

Ndiameeh Babrik