What The Military Did In Nigeria Will Surprise You!
February 1958, The first shipment of oil was sent from Nigeria, and continued for over a decade without Nigeria having a single share of the companies
In this video, I show you a very clear picture of Nigeria today and take you back to how the military seized the lion share of its oil and gas.
Similar to what is currently ongoing in Burkina faso and Niger Republic,
The structural integration of the Nigerian economy into the Western capitalist order resulted in a complete foreign economic domination of the country. This led to the Military takeover of power in Nigeria. Within 2 years of ending the civil war, the Nigeria Federal Military Government introduced the Nigerian Enterprises Promotion decrees also called Indigenization Decrees in 1972. Then Military President Yakubu Gowon believed the idea of indigenization was the "pragmatic process of increasing
local involvement in the ownership, control and management of the economy.
Within 1 year of the Indigenization process, The Nigeria Military Government received 35% shares in the Oil Companies. The following year 1974, the same military government pressed for further renegotiation and increased Nigeria's shares in the companies from 35 percent to 55 percent.
4 years later in 1979, a subsequent military leader, General Olusegun Obasanjo, raised Nigeria's shares from 55 percent to 60 percent. Feeling that still wasn't enough, the military later in the year decided to nationalise all of British BP shares. With that Nigeria's shares in the oil companies rose from 60 to an unprecedented 80 percent shares. Till date, no other African country has been able to take so much control of its natural resources. But that wasn't all. The military government also got over 40% shares in America's Chevron and French Total Energies operations in the country.
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Today, these massive accumulation shares by the military regimes are the saving grace of Nigeria's economy. Keep watching to see the impact of oil on the major cities in Nigeria. Later in the video I will tell you how democratized corruption has robbed Africa's largest economy.
Oil plays a critical and multifaceted role in Nigeria's economy, shaping various aspects of the country's development, government revenues, industrialization, and global trade relationships. Nigeria is among the largest oil-producing countries in Africa, and its oil reserves are significant contributors to its overall economic landscape.
Export of crude oil and petroleum products constitutes about 90 percent of revenues and a significant source of foreign exchange earnings, allowing Nigeria to finance imports and support essential public services.
Revenues generated from oil exports are a crucial source of funding for public infrastructure, social programs, education, healthcare, and other government expenditures.
Thanks to oil, Nigeria today is a vibrant and diverse country that boasts multiple cities that have achieved varying levels of development. While challenges and disparities still exist, several Nigerian cities have made significant strides in terms of infrastructure, economy, education, and overall quality of life.
Lagos as the economic hub and largest city of Nigeria, Lagos stands out as a prime example of urban development. It has a bustling economy, a major seaport, and a vibrant cultural scene. Lagos is home to modern skyscrapers, well-planned roads, and a rapidly expanding technology sector. The city has attracted both domestic and foreign investment, contributing to its growth and development.
Abuja: Serving as the capital city, Abuja was purposefully built by the different military governments of Nigeria to relieve the administrative burden from Lagos. Its modern infrastructure, well-organized layout, and impressive government buildings highlight the nation's efforts to create a dynamic and developed administrative center.
Military rule in Nigeria wasn't all perfect. Just as recent and current civilian administrations are not perfect.
While the military administrations in Nigeria have largely recorded significant successes, the enormous oil money resulted in corruption that later became widespread in subsequent civilian governments.
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Watch to the end to see Nigeria's best cities.
NIGERIA THE GREAT !!!!! I LOVE NIJA PEOPLE I'M SENEGALESE
@MyAfricaView
11 ай бұрын
Thank you
@adeolaadefowora155
11 ай бұрын
All glory to God! 🙏🏽 Thank you
@osagunmwedeobayagbonna4135
11 ай бұрын
@Diallodiallo6656, my brother you are also a Nigerian as long as you are an African, we are one family, one people, one love from your Nigeria Brother
@folaopeaiye645
11 ай бұрын
Nija love you guys too . One blood !
I enjoyed this video so much! ❤❤❤you! We SAY NO MILITARY INTERVENTION in Niger ✊. Thanks
@MyAfricaView
11 ай бұрын
Thank you
LOVE seeing the _Palm trees_ in African countries... ❤❤
Impressive narration, Africa countries need to put there destinies in there hands. There is a standing policy in Nigeria that does not allow foreigner to have total control of its resources, its usually done 60% - 40% and of course to Nigeria advantage. Other Africa countries need to take a cue and implement it to their advantage.
@MyAfricaView
11 ай бұрын
Thank you
@anstaranstar
11 ай бұрын
Tell that NANA ADDO. AND JOHN MAHAMA OF GHANA
@optimusprime5794
11 ай бұрын
Even 60-40 is too generous. They should make it 97-3
@deezknots6743
11 ай бұрын
@@optimusprime5794you read my mind if it was 60-40 nigeria will not still be this underdeveloped
@EvwienureEjowokeoghene-uh5iq
11 ай бұрын
@@deezknots6743your comment no follow up with others people comment,abi you want just comment for likes sake
I like your usage of the real pictures of the streets of Nigeria
This is a very educative and enlightening video.
@MyAfricaView
11 ай бұрын
Thank you
Thanks 👍 for sharing this information with me today.
Wonderful video. Thank you.
Thank you for this information.
Thank God for past military interventions in Nigeria! I bet you civilians could not have achieved that because of indiscipline and greed! Military is not perfect but better and more disciplined! Depending on the situation, military rule can be real blessing. Right now Nigeria's foreign reserve is completely drained within 8 years!
Thank you so much for this video.
Thanks, interesting!
I didn’t know this. This made a lot of sense. A lot of sense. Only if the corruption wasn’t as rampant, the sky would be the limit
Not to mention the other 30 cities like kano, kaduna enugu,asaba,awka,owerri,uyo,benin,illorin,lokoja,makurdi,maiduguri, bauchi, jos,minna,jigawa,yola,jalingo,gombe,damaturu,Zamfara,kebbi,sokoto,lafia,calabar,Abakaliki, Akure,Ado ekiti and osun that are not mentioned in this video.😂😅 That's what alot of African countries dont see about Nigeria.lf not for corruption no country in Africa and some European countries would come close to Nigeria's capability and achievement.We are not just building one or two cities like alot of African countries, but 36 simultaneously..😅 Yes, yaya bello in lokoja is clueless, the city is not going anywhere,anytime soon,understand able..But imagine if Nigeria tap into raw minerals like gold,platinum that we have in abundance,tourism,agriculture, health,afrobeat carnival?😂Cheers
@ebipius4893
11 ай бұрын
Only delta state get 3major city in one state. Warri, Asaba and ugheli
@treycampbell3533
11 ай бұрын
Nigeria could be one of the main global powers, but only after they erase the corrupt government officials and hold each individual in a position of power to a high standard.
@suntanglory
11 ай бұрын
@@treycampbell3533 We need to erase these corrupt government officials...😂That's what Nigeria need.
@blackcoraltv6787
11 ай бұрын
Add Sapele to that - thats where pidgin English originated from. Delta is the only state with two airports- Asaba and Warri airports
@suntanglory
11 ай бұрын
@@blackcoraltv6787 Cross rivers will have two airport soon with obudu airport...
Thanks
Your effort and analysis is greatly appreciated. You have highlighted some critical salient points which resonate with most of Nigerians. As you have pointed out isolating the incidence of extreme corrupt practices in Nigeria, the relative development recorded should have surpassed most other oil producing countries such Qatar and even Saudi Arabia.
@MyAfricaView
11 ай бұрын
Thank you
@ayodelethomas6810
11 ай бұрын
Dey play
@blackcoraltv6787
11 ай бұрын
You can't compare Nigeria with Qatar. Whats their population compared to Nigeria? Qatars population is like one local govt in Lagos. The more people you have the more resources you have to spend. Time we start checking our population growth. Two children max per couple so we don't end up like India- too many people
Lagos is beautiful ❤
@promisebethel2226
11 ай бұрын
Where are you from
The government in Nigeria is still corrupt. That's why prices are so high and the unemployment rate is so high.
@MyAfricaView
11 ай бұрын
Yes the civilian government is very corrupt
It's time to free africa
We have to go back to the military rule I'm in with Africa unite one Nigeria
What profit? Democracy is the root of all our problems in Nigeria
Hmmm
But,i keep wondering,why Nigerians 'te travelling like a war in their country.
@promisebethel2226
10 ай бұрын
Nigeria is travelling out the country to make it somewhere because of hardships......they are not traveling out because of cities...... because you guys think is because of cities
@otiskdarko6293
10 ай бұрын
Na lie,my brother,it's b'cos of competitions & greediness,but,i still love that country as my second home,truly speaking.
@erhigapeter4710
10 ай бұрын
@@otiskdarko6293what do you mean by greedy and competition 🤔 so nigerian travel because of competition 😌
@otiskdarko6293
10 ай бұрын
That's my opinion,b'cos,it's the giant of Africa's economy,and a lot of developments are going on,there're so many changes as well,so,o don't understand why you're going out from country like that.
@erhigapeter4710
10 ай бұрын
@@otiskdarko6293 haha 😄 but China and India are everywhere lol
Thanks bro ..for this greatest progressive intelligence from your African's country.. keep videos on your history ...success bro..Good success to my sisters n brother in Africa ..
Unfortunate thing is that most of that oil money went back to the ones we took the shares from in the form of foreign mansions, cars, tuitions, etc as corruption. The joke was on us as a false sense of taking ownership. Oyinbo smart well well o! Chai!