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Danjuma: It's the oil, stupid

Was the presidential (s)election about oil blocks?

Our source “on ground” in Abuja claimed that some of the major power brokers behind the scenes in Nigeria decided Goodluck Jonathan would have to go to protect their access to lucrative oil blocks.

Oil blocks are awarded to oil drilling and exploration companies by the government and are almost like a licence to print money. Former military junta member Theophilus Danjuma’s oil block is reportedly worth $1bn.

These looters have had a say in oil block allocations
These looters have had a say in oil block allocations

It has been reported that the owners of these oil blocks are mainly very wealthy northerners that have benefited from “their man” being in power for several years. Some in the Niger Delta, where Jonathan comes from, have agitated for a slice of this lucrative pie from the oil that comes from their land.

Very oily and dodgy business
Very oily and dodgy business

Several oil block licences are due to expire this May and Jonathan was allegedly determined to redress the imbalance in ownership by taking them away from some present owners and possibly handing them over to some of his cronies. The next round of oil block licence allocation is due in 2019.

So the money men decided Jonathan had to go to protect their oil blocks.

A source close to Danjuma revealed that the billionaire was telling people close to him that Goodluck will lose long before the (s)election.

President-elect Buhahari, who claims he is going to “fight corruption” is likely to cut deals with these robber barons to survive in office.

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