"THE PRESENT IMBALANCE IN THE ALLOCATION OF THE OIL BLOCKS IN NIGERIA"

(i) This oil in the Niger Delta region of Nigeria has remained to date the biggest source of revenue and the biggest contributor to the GDP of Nigeria as a nation for more than 40 years now. (ii) No oil revenue coming into the coffers of Nigeria practically means that there is no Nigeria in all reality. (iii) Nigeria is recognized today in the community of nations because of her huge oil-wealth primarily. (iv) This oil is currently responsible for the political crisis, waves of kidnapping of the international oil workers and militant insurgency in the Niger Delta region that is capable of tearing Nigeria apart or shut down the Federal Government of Nigeria if it escalates to the peak. 

(iv) The oil in Nigeria is the biggest sector of our national economy today and by intentionally giving about 83% of these oil blocks to a section of Nigeria (The Northerners) is the biggest promoter of national economic injustice, wealth gap and income inequality (v) The distribution of these oil blocks in the first instance were never done openly, fairly and in a transparent matter, but in a corrupt and a very shady manner, (vi) A former oil minister in Nigeria that has integrity by the name of Tam David-West has this to say about the oil block allocation in Nigeria. “It is very unfortunate for a minister to have an oil block. I did not have an oil block because we played the game according to the rules. I did not even have a filling station. Owning an oil block is like getting a gold mine. It amounts to billions of dollars. It shows the high level of corruption and in-discipline in the leadership of the nation.”

(vii) Every Nigerian that comes from any part of Nigeria whether they are at home or in the diaspora who is interested in owing an oil block should all be given opportunity to bid for these oil blocks and be treated equally and fairly in the distribution. (viii) Nigeria's oil industry is light year away in comparison to her banking industries in terms of its economic size and revenue. There should be no basis for any comparison because the Southerners are currently dominating the banking sector in Nigeria that is so minute in its economic size to the huge oil industry.