Nigeria, Africa’s most populous nation and its largest oil producer, is from all evidence being systematically thrown into chaos and a state of civil war. The recent surprise decision by the government of Goodluck Jonathan to abruptly lift subsidies on imported gasoline and other fuel has a far more sinister background than mere corruption and the Washington-based International Monetary Fund (IMF) is playing a key role. China appears to be the likely loser along with Nigeria’s population.

The recent strikes protesting the government’s abrupt elimination of gasoline and other fuel subsidies, that brought Nigeria briefly to a standstill, came as a surprise to most in the country. Months earlier President Jonathan had promised the major trade union organizations that he would conduct a gradual four-stage lifting of the subsidy to ease the economic burden. Instead, without warning he announced an immediate full removal of subsidies effective January 1, 2012. It was “shock therapy” to put it mildly.

Nigeria today is one of the world’s most important producers of light, sweet crude oil—the same high quality crude oil that Libya and the British North Sea produce. The country is showing every indication of spiraling downward into deep disorder. Nigeria is the fifth largest supplier of oil to the United States and twelfth largest oil producer in the world on a par with Kuwait and just behind Venezuela with production exceeding two million barrels a day. 1

The curious timing of IMF subsidy demand

Despite its oil riches, Nigeria remains one of Africa’s poorest countries......more..http://www.globalresearch.ca/index.php?context=va&aid=28900


http://www.globalresearc...context=va&aid=28900

@young..just seen it now and thought its interesting..especially now that we have our very own Turkana Oil..

...could be propaganda or the truth..i cant be 100% sure unless anyone who is in Nigeria can confirm or deny the facts as stated..

Nigeria produces oil but since it has no refineries, import expensive petroleum.

Why cant a refinery be built in Nigeria?

if someone answers @a4Architects last question convincingly then this debate can end logically ;-)

Reminds me of Christopher Okigbo and the quest for Biafra.....

Before you mother Idoto,
Naked I stand

Only that the Idoto in this case is a malevolent external aggressor not seeking confession from Nigeria, but looking to plunder her resources

i concur with architect on this, i have been there to this country and i couldnt help bt feel ashamed of wot a country with soo much potential of being a first world country could turn into its current state.

shocking is that guys queue with jerricans for petrol sometimes and sometimes pumps are dry.

why does this have to happen?

The "eating" mentality in Nigeria is just too much, i understand they import rice etc from Britain.

rice importation is understandable since they dont produce it but producing 2 million barrels of oil per day then importing EXPENSIVE petrol & Diesel is simply unacceptable..

@young...explain this phenomenon please since you come from Nigeria

^^^^^true...

But atleast that is changing here a tea factory in the slopes of mt. kenya is now packaging tea and selling straight to supermarkets in UK. Again, we can decide not to buy nescafe and take kahawa no.1.

Nigerias case is chronic, Kenya doesnt produce oil but has a refinery, why should Nigeria not have one?

I know that...but its also true that the tea sector has started packaging tea and selling to supermarkets in the UK ama hio si ukweli. We can only liberate ourselves if we get accustomed to buying locally manufactured products and getting a market for the same. My point is Nigerias case is different from Kenyas case. In as much as we sell raw coffee only to buy nescafe, we also have kahawa no. 1 or dormans which can compete with nescafe.