The acquisition of 45 percent of OML 11 is the wisest single investment of a State Government in Nigeria and Africa Continent.
The decision of River State Government to acquire OML 11 is considered justifiable and should be supported by all indigenes of River State and South-south Region.
Any opposition to this giant stride by His Excellency, Gov. Wike should be perceived as enemies of progress and advancement in River State. This move by Wike is a confirmation that he is a servant leader who place the priority of his people first rather than his own personal gain.
If it would have been other persons, they will be fighting to acquire OML11 for themselves through private investment strategy.
OML11 is a strategic oil well with 33 oil field located in Ejama Ebubu community, Eleme Local Government Area and other communities in Ogoni. It is an oil well with 250,000 Bodp production capacity. By this acquisition River State will have a share allocation of 112,500 Bodp from the 250,000 Bodp.
The economic prosperity that this investment would bring to River State is great. This investment gains would free River State from central government manipulation, control and dictatorship in future.
This profound investment in near future would see River State become the largest state economy in income generation in Africa.
River State in short time will surpass Lagos State in income generation and would become the envy of all state.
I implore His excellency to pursue and ensure that this investment by River State government is secure and actualise through due process. I would recommend that he adopts a Human Resource Development Strategy Model of Norwegian Oil and Gas industry and establish River State Oil Production Development Company to overseer the management of those strategic investment.
In a near future the people of River State would appreciate your coronation as Governor of River State for second term. May I use this medium to call on other State Government to look into strategic investment that would help them gain financial freedom from central government and attract economic prosperity.
Every state in Nigeria has strategic investment that when harnessed would drive economic prosperity for their state.
For instance, public investment of $100 million in limestone production by Kogi State Government is capable of driving economic prosperity to Kogi State and transform her internal generated revenue to Billions of dollar in near future. But rather than seek strategic investment that would free their state from financial dependence on central Government, they would prefer to wait to share federal allocation fund.
A financial economy management system that has rendered 36 states of the federation impoverish, except Lagos State. I would beckon on the new National Economic Council Team to advise state Government to look into strategic investment that would drive economic prosperity and sustainable income generation in their respective state.
Ukokobili, a Research Analyst is based in Lagos