The Nigerian oil and the revenue derived therefrom has been a monumental curse to the development of this country.
You see the oil is largely derived from south eastern states of Nigeria but the revenue is collected and deposited in a sovereign fund from where they distribute the money to the entire federation and that has to stop for the country to develop.
I am not in possession of any numerical facts relating to how much oil has generated for the country but am in position to say that enough is enough and this fund must end.
Some would say what do you mean ending the sovereign fund and that’s indeed a good question.
My response is that ending sovereign fund ends corruption because the oil don’t belong to all Nigerians for indeed the oil is the natural resources of the people on whose land the oil is found or located.
Therefore, those people own their oil and the money derived thereto.
There must and there ought to be a direct pay of the revenue derived from oil to the inhabitants of the states producing the oil and if the government is honest it may extend the direct pay to every Nigerian so that revenue is distributed to all of the Nigerians and not the few politicians who have rendered this country a subject of corruption.
Now what do the people do with the direct pay from the oil money is to invest educate their children and harness their environment.
The government hasn’t done it and it’s about time they stop collecting the money that don’t belong to the government.
Enough is enough, for the funds derived from the oil wells of River State or Akwa Ibom has done nothing for the people of those states but if there was a direct pay of the money to the citizens they will use their moneys to invest in factories in hospitals in education in security and in bettering themselves.
Writer is Emmanuel Onuaguluchi out of New York
