More troubles for Buhari as US organises global boycott of Nigeria's crude |
In order to refine heavy oil grades with higher levels of sulfur and
other impurities, refineries throughout the world mix sweet crude with
other grades of oil to produce its various classes of refined products.
Officials in the NNPC and other blocks in the petroleum industry in
Nigeria are scratching their heads trying to figure out why so many of
their former buyers have not picked-up their usual volume of purchase
orders of Nigerian crude. Only India and purchasers and traders outside
of Western influence have continued to increase their purchase orders
given the demand glut. The development has caused Nigeria’s already
dwindling revenues to decline even further dangerously flirting with
insolvency.
Unbeknown to Nigerian officials, behind the inexplicable drop in sales
is a top secret operation orchestrated by high-ranking officials within
the US government itself. The IMF and the US Government are different
heads of the same creature. The repeated and firm recommendations of the
IMF for Nigeria to devalue its currency and weaken its economy is also
the firm position of the United States. Because the CBN and Nigerian
officials have vehemently refused, they have responded by organizing a
clandestine global boycott of Nigerian oil to starve the nation of
foreign exchange earnings and force a currency devaluation. The
government has managed to save and increase foreign reserves despite low
oil prices, through prudent management of the CBN has shown that it can
limp along and ride out the slum in oil prices.
Many Nigerian policy-makers in the executive and legislature fail to
realize the truth that the United States under the current
administration is not a friend of Nigeria. In the height of war they
refused to sell weapons and liaised with South African intelligence to
circumvent weapons procurement through other means. Further even after
the election of President Buhari, has continued their hostile policy to
undermine Nigerian security and instead strengthen Nigeria’s immediate
neighbours. Economically, the US through the IMF has recommended
damaging policies of currency devaluation, and is now actively
organizing a global boycott of Nigerian crude oil to further starve the
CBN of foreign exchange. The question is, why has the United States
adopted a overtly hostile stance toward Nigeria? The answer is very
simple.
Nigerian policy makers are keen to the hostile rivalry between Nigeria
and South Africa for influence and policy direction on the African
continent. They can easily see that South Africa is an adversary. What
they fail to realize is that in the rivalry between the two powerhouses
of Africa, the United States has chosen sides, and South Africa is their
favourite partner. Undermining Nigerian security and economic growth
diminishes the nation’s growing influence in Africa, and aids South
Africa’s declining presence. South Africa is the only African country on
the G20 and for decades has been the only African country that matters
to the world and to Western policy makers. They have a longstanding
healthy relationship with South Africa that has made it easy for them to
operate on the continent and expand their influence. The rise of
Nigeria above South Africa is a terrifying development and one that the
United States is willing to obstruct and undermine both economically,
politically, and militarily. Instead of smiling and embracing the Judas
kisses given by U.S. officials Nigerian policy makers need to adopt the
same caution with the United States as they have already with South
Africa because the two are working together to check and contain
Nigeria’s rise in Africa.
- Africa Resource Centre
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