ELITE ROUGES ARE RESPONSIBLE FOR NIGERIA'S PERSISTENT ECONOMIC WOES!

ZION B-BC   NEWSLETTER.   

A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria {Vol. 11.NO 450. 27th March 2022.} “…ONLY The Truth, Will Set You Free! (John.8:32).  PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!

ELITE ROUGES ARE RESPONSIBLE FOR NIGERIA'S PERSISTENT ECONOMIC WOES!

In the year 2004 a high-ranking senator of the Federal Republic of Nigeria castigated some of his colleagues whom he claimed to be criminals and forgers who should not be sitting in the Red Chambers!

He recalled that during his stint as a police officer he had prosecuted some of the people them who later became senators. 

Retired Deputy Inspector General of Police, Nuhu Aliyu was forced to withdraw the statement following serious threats to his life and his family.

Elite rogues have been identified among the civil servants the executive branch, the legislative the judiciary and also in the private sectors of the Nigerian economy at the Federal, State and the Local Government Areas because they corruptly enrich themselves through the award of phantom contracts!

They also falsify accounts and steal monies from the treasury through annual padding of budgets to accommodate their illicit desires!

So far no Nigerian Head of State or President has been successfully accused, prosecuted and jailed for corruption during their tenures but many state governors, ministers legislators local government chairman have been cut red handed and have been successfully prosecuted and sent to jail!

NIGERIA’S MAJOR FOREX EARNER SINCE INDEPENDENCE HAS BEEN CRUDE OIL!

Nigeria can boast of thousands of thousands of billionaires who have benefited from illicit exports of unspecified barrels of crude oil, allocation of oil wells at the pleasure of the president and his cabals while the few indigene peasants who refine crude oil through locally built modular refineries in the South-South Creeks are hunted down and all their products destroyed and burnt!

And whereas, through crude oil earnings, successive Nigerian governments have refused to diversify to agriculture and solid minerals extraction full scale but have depended on sharing proceeds of oil among the 36 States and the Federal Capital Territory on monthly basis!

State Governors, members of their cabinets and economic teams went to sleep without bothering about Internally Generated Revenues (IGRs), the lack of which resulted in social infrastructural deficiencies and failure to deliver on their promises of dividends of democracy. 

And in spite of Nigeria's position as the most populous country in Black Africa and also the country with the largest Gross Domestic Product, (GDP), the nation had in 22 years of scandimania of proceeds from the only mono- product brought upon itself negative international indexing like: the poverty capital of the World, the most corrupt nation, the dirtiest and most dangerous and most insecure country to domicile!

THE NIGERIAN GOVERNMENT CANNOT CONFIRM DAILY BARRELS OF OIL LIFTED FOR EXPORTATION!

Through organized crime of oil theft from the military and through to the current democratic engagement, Nigeria has lost trillions of dollars to the cartel that has perfected the illegitimate business of great dimension with international collaborators!

Local thieves at the lower wrung of the downstream sector who do not possess the expertise, temerity and sophistication associated with their high-wired counterparts always resort to bursting PMS oil pipes and scooping as much refined products as possible to sell in the black market as their own share of the National Cake without any iota of care for their lives in case of fire outbreak!

OF WHAT USE IS TONY ELUMELU'S OIL THEFT LAMENTATIONS TO NIGERIAN TALAKAWAS?

What can be described as dividends of democracy in Nigeria is the by-product of the crude oil in the form of PMS which is known as petrol, kerosene and diesel oil

All of these refined products have become indispensable household essentials which the poor masses of Nigeria will covet anywhere it is found even under a fallen petrol tanker that cool catch fire at any given time please these downtrodden Nigerians risk their life to scoop free petrol to use for their trades for cooking and also to sell in the black market to make some money for themselves it is as bad as that in Nigeria.

Mr Tony elumelu is the PDP minority leader in the House of Representatives in a series of tweets recently lamented over the worsening electricity, hike in prices of diesel and petrol and its effects on businesses in the country.

Elumelu who is also an economist and Chief  Executive Officer of Heirs Holdings said that businesses were suffering under the situation and Nigerian citizens are groaning in view of the resultant inflation on food items as well.

The legislator also posed series of questions and comments as follows:

1) “How can a country so rich in natural resources have 90% of its citizens living in hardship and poverty?”

2)  “Nigeria cannot meet its OPEC production quota due to oil theft.”

3) “Businesses are suffering. How can we be losing over 95% of oil production to thieves? Look at Bonny Terminal that should be receiving over 200 thousand barrels of crude oil daily, instead it receives less than 3000 barrels leading the operator @Shell to declare force majeure.”

4) “Why are we paying taxes if our security agencies can't stop this? It is clear that the reason Nigeria is unable to meet its OPEC production quota is not because of low investment but because of theft, pure and simple!”

5) “Meanwhile oil-producing countries are smiling as their foreign reserves is rising. What is Nigeria’s problem? We need to hold our leaders more accountable!”

COMMENT: Is it truly possible to lose a whopping, 95% of Nigeria’s oil production to thieves? We expect the new NNPC to corroborate Elumelu’s claims and clear the air as the Federal Government's Agency in charge of the oil sector of the economy!

OIL WINDFALL ACCRUALS MUST NOT BE MANIPULATED!

Rumors are rife that the Buhari’s APC out-going Administration plans to muddle, mutilate and manipulate oil accounts/figures from February 2022 in spite of Our demand that a TASK FORCE be established to compute and monitor all monetary and financial transactions for as long as the conflict and oil prices escalate and subsist!

We still maintain Our Stand that the oil windfall MUST be directed to succor the plight of the 90% of very poor and downtrodden Nigerians in the areas of the Economy to reduce threats of recession through hyper inflation of goods and services! Education, Health, Employments, Motorable road networks, Industry, Manufacturing etc

OIL PRICE BENCHMARK AS APPROVED ON 22ND DECEMBER 2021 BY THE NATIONAL ASSEMBLY WAS ANCHORED ON USD$62 PER BARREL!

Although President Buhari while proposing to spend NGN16.391trilion naira as budget estimate for 2022, the international oil price benchmark was pegged at $57 per barrel but the lawmakers increased it to the current $67 dollars. However due to the Russia-Ukraine War international oil prices skyrocketed to between $100 to $120 US dollars!

The legislators retained the oil production target of 1.88 million barrel per day including condensate production of between 300000 to 400,000 barrels per day for the purpose of its revenue calculation in 2022.

Oil exports account for around 80% of Nigeria's foreign exchange Revenue. Nigeria has however battled with a sharp drop in revenue and made a drop in production according to NNPC.

If what Tony elumelu has claimed above can be asserted to be correct then what will happen to the fortunes of Nigeria if the oil theft cannot be stopped for the country to benefit from the massive WINDFALL which other nations are currently enjoying?

Will it be that the Legislator was incorrect in his assertions and that as a Nigerian leader was trying to pass the BUCK to others instead of taking part of the blame for the current position of helplessness that the nation’s leadership team have wickedly placed Nigeria?

Whereas President Buhari's apologists who were silent on oil thefts had begun to calculate and to permutate daily accruals of the multi-dollar windfall and how it would be expended to PAY OFF FOREIGN DEBTS! Barawo!

THE PRESIDENTIAL SYSTEM OF GOVERNMENT FOR THE ELITES WHICH GULPS DOLLARS AND NAIRA LIKE PREDATORS MUST END WITH PRESIDENT BUHARI!

The solution to the insecurity, inflation, banditry kidnappings and all forms of agitation for the restructuring of Nigeria will be solved with the introduction of a parliamentary system of government from 2023.

It was high time for the drafting of a brand new Unicameral parliamentary Constitution that will eliminate the Upper House (the Senate), which MUST BE SHUT without further delay to eliminate all forms of WASTAGES IN GOVERNMENT

 Nigerian politics had been heavily moniterized for too long. Following the 2023 INEC's Election TimeTable announcement the money bags have thrown their hats into the ring and have begone to fight dirty with all illicit and stolen monies.

All candidates want to become President of Nigeria others want to be Governors many want to be Senators, Legislators, Local Government Chairmen etc, all with one intention to steal from the treasury in a presidential system!

That will not happen again from henceforth! Nigerians should collectively demand for the convocation of a Constituent Assembly that will draft a new constitution for the General, States and Constituencies elections in 2023 that will usher a PRIME MINISTER INSTEAD OF A PRESIDENT!

Let us rise together as We the People of Nigeria, the patriotic citizens and get a government that will take care of our needs. We must not allow this opportunity to pass us by!

“A stitch in time saves nine!”

[WATCH OUT FOR A NIGERIAN PRIME MINISTER – NOT A PRESIDENT IN 2023!]

 Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to:  facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com, 

If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray  this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament of your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations.  

I am, yours sincerely, Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08080243066. g-mail-dvdolufon@gmail.