Political corruption and the rise of the oligarchs (3)

The contract for this is offered to the wife of another Minister or strong politician.  Event centres are hired and thousands of Nigerians paying X naira apply.  Money is made at all levels and each level is a clog in the oligarchy.  Same would apply in say, Aviation where large land areas belong to the Ministry; concessions galore exist; only the imagination can stop what is possible when an oligarchic mind set is at play.  In agriculture industries, trade, finance, communications etc – these can be substantial play grounds for the oligarchs.

Presidents and Governors, Military Officers, Police Officers, Custom Officers, former Ministers of Defence, Federal Capital Authority – have all built up institutions that would forever shore up their families: they have promoted other individuals who own IT, companies, banks, cement factories, petrochemical factories, oil companies, food processing plants and factories etc.  It is probably safe to say that all the billioniares we have in Nigeria to-day have at one point or the other enjoyed Government patronage by way of massive and continuous import waivers, long tax holidays, port concessions, fertilizer and petrochemical companies, import monopoly of key ingredients of the state etc.

I have heard justification for this from highly placed persons (Presidents Governors etc) who argue that all Nigeria needed to succeed economically, was the strategic placing of ten Nigerians in key industries and businesses and the support by Government of these ten people: if you look around and you will find them.  So, I would not bother with their names I hope someone would devise a new type of monopoly game called spot the Oligarchs.  I am sure social media would be able to name these oligarchs.  Some Governors have interest in oil, petrochemicals, hotels, massive land holdings, major interest in tax collection companies etc.  Whenever political parties meet – these are the Godfathers of the political parties who resolutely refuse to have internal democracy within the parties because, it pays these money bags to finance the parties and choose all the candidates for political office.

Both Messrs Presidents and State Governors have created oligarchs.  These creations by the Presidents include Ministers who have attempted to build international hotels at the airports – none has yet materialized.  Others have bought international Hotels in Abuja.  Two bankers, one stocks dealer, belong to a transactional company its directors are part of the usual suspects and they are in everything- fruit drinks , cereals, spaghetti and other food productions, cement etc, another is in data management yet another in GSM, one is the owner of the ill fated Air Nigeria and the following debacle.  Other oligarchs have found other pastures in tank farms, insurance, hotels, publications and so on. Others have benefited from monopoly industries like production of saline solutions for hospitals, manufacturing of injections and other medical equipment.  More oligarchs have exploited the Soa Tome oil concession, have benefited from oil transactions in Nigeria from the oil majors, other have real estate companies outside Nigeria from proceeds of money made in Nigeria; a new group is seeking access to the power plants.  They are all major clogs in the overall oligarchic system.  Hundreds of Nigerians are now operating in Dubai, China, South Africa, the US who were anointed oligarchs or these anointed by political Godfathers here – carrying millions of dollars to their chosen location.  And yet all of this is but, scratching the surface.  Beneath this is an army of young men and women who prop up the system.    

A new class of oligarchs have just appeared on the surface.  For years NNPC had followed rules which made it extremely difficult for Nigerians to lift crude even when they had both the expertise and like Dr. Eddie Opia, owned tankers.

The announcement last week that Nigerian companies would be allowed to lift crude show the present Administration’s stride towards growing its own oligarchs.  The favoured companies include Tridax Energy (incorporated in Switzerland in 2010 and started lifting 2011; Tridax OIL AND Gas incorporated in Abuja).  Tridax Properties, Mezcor and Linear, AITEO, TALEVERAS ATLANTIC ENERGY who own an operational contract for some of Nigeria Petroleum Exploration Developing Company.  Sahara Energy company etc.  The largest of these has just signed an oil concessions; some shaddier ones have been lined up as proxies for powerful interest for oil concessions being sold by some International oil Companies – the common thread in all these transaction is that they are all nearly opaque.  

 Patrick Dele Cole