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F Ọ L Ú 🚀
@FolushoxFolarin
·
4h
#HISTORY 🇳🇬‼️
Tinubu Ends 30 Year MALABU SCANDAL
Corruption ☑️
Convictions☑️
Insider Deals☑️
Billions in Bribes☑️ and...
The Quest for 9billion barrels of oil☑️.
It all started in 1998 under Gen Sani Abacha, when Malabu Oil and Gas was awarded the oil block for $20million. Who owned Malabu Oil and Gas? Abacha's Minister of Petroleum Resources, Dan Etete (Pictured Below). How much of the $20million did Etete pay the 🇳🇬Military FG?
$2million
Abacha dies, enter Obasanjo. OBJ revokes the license and gave it to Shell for $210million.
Malabu went to court, Yar'Adua returned the block to them. Shell and Malabu went to court in Paris, Italy, UK and Nigeria.
Enter Goodluck Jonathan - Shell teamed up with Eni to buy the oil block again for $1.3billiilon. GEJ's govt transferred $1.1billion to Etete and Malabu and the FG kept only $210million.
So many people who were cut out of the deal made a whole lot of noise about the corruption involved in the deal.
Over 12 people have gone to prison over this oil block especially internationally - For bribery, for corruption, for misappropriation and so on.
What Tinubu has now done is to split the oil block into 4. Eni and Shell get their blocks and everybody can get to work increasing 🇳🇬's oil output.
Just like ASUU's 17 year deal with the FG which was never honoured and went unresolved, Tinubu has resolved another Nigerian problem which is almost 30 years old.
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