RUGA vs Indigenization Decree of 1972/1977

RUGA vs Indigenization Decree of 1972/1977

Sunday, July 7, 2019 8:30 am


File photo. Cattle in Nigeria

Ena Ofugara

…Elites Use The Masses To Acquire Undeserved Wealth

I am too tired right now to write a befitting article on this. But suffice to say that in 1972 and then amended in 1977, Nigeria made a decree called Nigerian Enterprises Promotion Decree NEPC. This decree was apparently to give Nigerians a chance at owning their own economy as opposed to foreigners. Through this law, chiefly Fulanis/Hausas and Yorubas (fresh off the civil war, few Igbos could get loans to acquire the shares dumped into the stock market so as to be able to own some of the 51 percent of every foreign-owned company in Nigeria) became overnight company owners of such top companies some of which were Cadbury, Dunlop etc. 1130 companies became owned by “Nigerians” overnight.

Now, one would have thought groups of market women and cooperatives etc would be funded by banks to acquire these shares. In 1977 when a Peugeot 504 was about ten thousand naira, 240 million naira worth of shares were “sold” by “private placement”. Meaning they were not even offered to the public. Unsecured bank loans were given to people by name recognition alone… NO COLLATERAL.

So when you see the tribes that control the stock market, and when you see it is Fulani and Yorubas, (Obasanjo was head of state) know how that came to be. It was not by dint of business acumen but by sleight of hand aided by government policy.

Indeed Nigeria has faux billionaires like Dangote who are spoonfed their wealth. While others, chiefly Igbo businessmen go and struggle to get dollars at black market value, the Dangotes get at “official” cheap rate and then have monopolies on staples like rice, cement, sugar etc. The elites and from particular tribes, (except for a few fronts when they use minorities and Igbos,) continue to become billionaires by benefiting from government policies.

Now RUGA. Once again, the Fulani masses are about to be used to acquire choice lands from across the country which will ultimately be owned by the elites as opposed to the talakawas. The cows are owned by the sarakunas/elites. They are escorted by Fulani herdsmen that do not even own cow horns for themselves. The Fed Govt wants to acquire lands and say “investors” (elites) want to invest in these lands.

Land is the number one factor of production and wealth. It is not created (oh well, the Dutch claimed much of theirs from water) and wars are fought over it. With the desertification of the North, these Northern elites once again want to use government policy to now get lands as they have done with oil fields and wells of the south south.

So while we look to the dangers of the Fulanis settling in our communities in the name of RUGA, we are blinded to the fact that the herdsmen are just a front. The true beneficiaries are the elites who want FREE LAND to invest their FREE MONEY from FREE OIL PROSPECTING LEASES, and FREE SUBSIDY “KPAJE”, and FREE MONEY FROM BOKO HARAM ARMS DEALS AND “SETTLEMENT” plus FREE UNINTERRUPTED UNTAXED MINING OF GOLD SILVER, QUARTZITE etc etc

We can choose to be foolish with our land if we want. Remember, like the Palestinians and Native Indians and Mexicans have found out from Israel and then Caucasian Americans, once you allow your land to be taken, YOU CAN NEVER GET IT BACK.


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