Time for Abubakar Momoh to Get Serious
Nigeria’s 2024 budget has unfurled like a lavish tapestry, revealing a grand allocation of N346billion (€349million) to the Ministry of the Niger Delta. This region harbours nearly all of the country’s oil reserves, making this allocation more than just a monetary figure.
This allocation represents not just a fiscal decision but a strategic move by President Bola Tinubu, akin to a master chess player positioning his queen. It’s an unspoken acknowledgement of the Niger Delta’s pivotal role in the nation’s economic theatre. The Delta, after all, is no ordinary place. It’s a labyrinth of potential and power, producing more than half of Nigeria’s revenue, and with the 2024 budget, Tinubu seems to be feeding this goose quite generously.
However, the plot thickens with the revelation of 953 abandoned projects in Rivers State alone, a subplot that could rival any Shakespearean drama. This situation, riddled with the ghosts of inconsistency and governmental vacillation, paints a picture of unfulfilled promises and potential. Yet, there’s hope, a new chapter, as the current NDDC Board seeks to rewrite this narrative, striving to transform these abandoned dreams into concrete reality.
Adding to this rich tapestry is Nigeria’s ambitious goal of producing 1.8 million barrels of oil per day by 2024. The names TotalEnergies, Chevron, and ExxonMobil dance in this oil ballet, each playing their part in a symphony of economic resurgence. This goal, however, is more than just a number; it’s a beacon of hope, shining through the mists of economic uncertainty.
But let’s not forget, every story has its villain. In this saga, it’s the spectre of oil theft, a shadow that looms large over Nigeria’s fiscal dreams. This menace, costing the nation at least $2 billion between January and August 2022 alone, is a hurdle that must be overcome. It’s a battle of wits and wills, as the government seeks to clamp down on these nefarious activities to secure the revenue necessary for its ambitious projects.
So, as Abubakar Momoh steps into the limelight to steer this ship, one thing is clear: the stage is set, the players are in place, and the drama of Nigeria’s oil delta is unfolding. In this story of power, potential, and politics, every move counts, and every decision echoes in the hallowed halls of Nigeria’s future.