If you are from an oil producing country with corrupt leaders you have
to be very worried.
Today, the price of crude oil for the first time since her discovery in
many parts of the world, went (negative) -$10 US Dollars 💵 a barrel.
It’s a catastrophic decline that will make it to the Guinness books of
world records.
Ignorance does not deliver anyone, but good leadership does.
This novel, catastrophic and negative oil price digit, will affect every
facet of our society because we have failed to plan for many years.
From one administration to another, it was looting upon looting, the
monster of (this is our chance) or this is my opportunity to loot my own
share of the National cake have deprived the ordinary man and the
society at large the enabling environment to strive to its full
potential.
It is because of days like this that Norway 🇳🇴 saved a huge percentage
of her oil revenue for her future generations because they forsaw that
technology will send crude oil into the paths of coal, but we didn’t
know that oil doom was not far away.
However, even if oil prices recover from this negative bottomless pit of
hell that the evil corona virus 🦠 sent it, it’s only a matter of time
before technology take its place and send it back there.
This reality is unavoidable.
Oil producing and other developing nations, need leaders who can think
outside the box like Joseph in the biblical days of King Pharaoh and
more recently leaders like the King of Saudi Arabia 🇸🇦 who only recently
madebthe Saudi oil company a public company by offering shares to the
citizens and other interested parties globally. The company Initial
public offer (IPO) was made public in 2019 because they knew the doom
day of oil was not far away.
If Nigeria 🇳🇬 and other oil rich producing nations fail to go back to
the drawing ✍️ board and plan for their nation now, it’s only a matter
of time before we become the East African nation of Zimbabwe 🇿🇼 , where
that nation no longer have a currency of their own, but rely solely on
the US Dollars 💵 for the exchange of their local goods.
Zimbabwe like many countries have no oil or needed mineral resources to
offer the international market.
The Islamic Republic of North Sudan 🇸🇩 became extremely broken after the
breaking out of South Sudan 🇸🇩 .
South Sudan 🇸🇸 went away with all the oil blocks leaving the Northern
part with no resources , the people were confronted with extreme poverty
and the centre could not hold as because things fell apart, that led to
the ouster of President Bashir of Sudan.
For many oil producing nations, it will take drastic and bullish
economic approach to figure it out with adequate planning.
I just weep for my country Nigeria 🇳🇬.
It’s unfortunate how we have mis-managed our oil revenues and
opportunity to develop the country since 1960.
It’s on records that since 1960, over 75 percent of Nigeria oil revenue
mysteriously find their way into the bank accounts of some corrupt
former military leaders and politicians.