ijebuman's diary

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Wednesday, April 26, 2006

Oil for the Lamps of China 

The title is taking from the 1935 film 'oil for the lamps of china'

China and Nigeria agree oil deal

China has secured four oil drilling licences from Nigeria as President Hu Jintao continues his week-long tour of Africa, his second in three years.
In exchange China will invest $4bn (£2.25bn) in oil and infrastructure projects in Nigeria.
China will buy a controlling stake in Nigeria's 110,000 barrel-a-day Kaduna oil refinery and build a railroad system and power stations.
Nigeria, Africa's top oil exporter, has long been viewed by China as a partner.

The Chinese interest in Africa is welcome but we need to 'shine our eyes well well' (like my peeps will say) This time around the relationship has to be of mutual benefit. (No giving away of the family heirlooms for a mirror or was it for religion??)
There's a saying 'beware of greeks bearing gifts', As long as we Africans are aware that there's no free lunch and we ensure that we actually gain something from the relationship rather than letting China use us as a source of cheap raw materials.

The Chinese are unlike the west, in the sense that they just want to do business and do not really care about who they do business with. China has a policy of not interfering in the internal politics of other countries so its unlikely they'll have any qualms about Obj's third term 'politricks'.
I suppose what concerns me about China apart from not caring who they do business with, is what they intend to do with their growing economic and political power. China today is like a sleeping tiger, as regards to its political and military clout. One day it will wake up to this reality and show its teeth, so until we know what they are really up to 'make we shine eye well well o'

Quote: Behind every successful man there are a lot of unsuccessful years - Bob Brown

posted by ijebuman  # 5:18 pm
read your post on "Global Voices".

Very nice.

I 'think' Obasanjo is trying to make Nigeria answer to its name (great again).

I say this considering the foollowing: "if a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce (oil) of our own industry, employed in a way in which we have some advantage."

I think it may well be to our greatest advantage.

Source: (Adam Smith, The Wealth of Nations, Book IV:2, Modern Library edition)
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