Still on Bio-fuels in Nigeria!
Please read this “sweet-bitter” news first @: http://dlvr.it/13M2ZZ
To my surprise on the 3rd of January, 2012, the day I concluded my last article on the “Potentials for Bio-fuels in Nigeria” the Nigerian Federal Government signs N424billion bio-fuels electricity generating plant deal with “Global Biofuels” a supposed “indigenous” bio-fuel producer running a project with 70% of the funds from the “Chinese Government” while it’s still sourcing for the remaining 30% from private investors! How weird can things get?
Going back to the second to the last paragraph on the last article where I noted that:
‘’This aspect of the document indicates the vulnerability of the plan for bio-fuels to dangerous capitalists or let’s say capitalists without conscience . . . bio-fuel project is something that should give a lot of preference to social development with the strong objective to enhance energy independence and grass-root economic development in Nigeria”
Reading the last paragraph of this “sweet-bitter” news @ http://dlvr.it/13M2ZZ that states the Chinese Government’s role as the main funder of the bio-fuel project scares me and to a great extent confirms my fears. Also considering the desperation of the Chinese Government to solidify its leading position in the world economy, their track record and the vulnerabilities of Nigeria and Nigerians due to corruption, poverty and bad leadership. I think Nigerians need to start paying some attention!