Sunday, March 11, 2012

How the North cornered Nigeria’s oil blocs
9 March 2012

Written by Ogbuefi Blogs    

Unknown to many, more than eighty percent of ownership of the nation’s oil reserves is in the hands of some influential northerners who acquired marginal fields, Oil Mining Licenses (OML) and Oil Prospecting Licenses (OPL). Curiously, such acquisitions were under the different military regimes of Generals Ibrahim
 Babangida (rtd), the late Sani Abacha as well as Nigeria’s last military leader, Abdusalami Abubakar.

According to available documents, most of those to whom the nation’s juicy oil reserves have been conceded are individually richer than some African oil-producers such as Ghana and Sudan.

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