Friday, November 23, 2007

random musings III

I swear i haven't stopped blogging i've just been distracted by events at work, the great big company i work for has recently merged with a bigger company and everyone is trying to adjust to the new political climate.

30 years and another boom
The whole oil price thing is doing my head in, especially when i have to buy diesel at £1 a litre (70p of that pound goes to the tax man as fuel duty and VAT).
Oil is currently trading at about $100, the last time oil was at similar levels was during the 70s, which is the period known in Nigeria as the 'Oil boom'. 30 years later and it seems history is repeating itself, except Naija has been so battered by the repercussions of that 'oil boom', that this time around it has hardly made much difference to most Nigerians unless you're lucky enough to be among the 1 percent of the population that continues to feed fat on the proceeds of our resources.

a feeling of deja vu
I found this report interesting - Nigeria sues over child smokers
According to BBC news
"The government is seeking an injunction compelling the companies to stop the marketing, distribution and sale of cigarettes to minors. It says that products sold by the companies are addictive and hazardous to public health."

But back in 2001
British American Tobacco (BAT) cash round reaches Nigeria

BAT is to invest $150m in Nigeria building a factory making internationally-recognised cigarette brands, and developing the country's tobacco farms. The investment was welcomed by Nigerian Industry Minister Kola Jamodu as a signal that Nigeria was "on track". "Substantial flows of investment are returning once more to Nigeria," he said.

makes you wonder what other "Substantial flows of investment" the government has signed up to. You'll think that in this day and age our government will understand the concept of no 'free lunch' or the fact that when it comes to Africa, western multinationals are only interested in exploiting the resources or taking advantage of the weak laws and no regulation.

1 comment:


hahaha, this is the problem with governments that lack concrete vision. One administration brings them in, the next takes them to court. Nevertheless, I am still happy with the suit as cigarettes have caused serious health problems, let us hope that the federal government will do more to discourage smoking and not just try to get money form the pockets of BAT