A Tale Of Two Countries

By Ikenga Chronicles November 4, 2019

A Tale Of Two Countries

–By Muyiwa Olayinka

Saudi Arabia’s giant state-owned oil producer, Saudi Aramco, announced plans on Sunday to go public in what could be the largest initial stock offering ever.

The company, the kingdom’s crown jewel and probably the world’s most profitable enterprise, said it planned to sell an unspecified percentage of its shares on the Saudi stock exchange, the Tadawul. Trading is expected to begin next month, although it did not specify a date and offered few other specifics. We are talking about Aramco’s worth of $2trn

Nigerian NNPC is the most prized state monopoly that runs it’s operation in a corruption ridden and opaque manner.

Yet our President Muhammadu Buhari has refused to commercialise the drain pipe on national’s resources that has become a cash cow in the hands of Nigerian political elites.

Not too long ago on Channels TV, I was listening to Buhari’s senior special assistant on media, Garba Shehu reeling out phantom achievements of Buhari’s just concluded visit to Saudi Arabia. Buhari is still boasting of Saudi Arabia $1bn Oil and Gas investment.

Dumping their scraps of old refineries in Nigeria could be part of the $1bn investment just like the Russian did with Ajaokuta steel industry

Meanwhile Saudi Arabia Buhari visited is deceiving him, they are relaxing their laws to accommodate visitors to tap into tourist potentials just like Dubai’s UAE success story, our President and his government are still celebrating striking oil in Bauchi.

Nations are moving away from fossils to renewables and building potentials in other areas but our team in Nigeria are still searching for oil.

Believe me, Nigeria’s story will end in tears.

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