The oil wealth beneath the Chad Basin

Iyorchia Ayu reportedly said: ‘’The oil wealth beneath the Chad Basin is fanning the embers of insurgency in the country because prominent businessmen and politicians in both NGR and Chad, in association with French companies, have invested heavily in oil exploration and exploitation.
According to the former Senate President: “They are the principal financiers of, and arms suppliers to, Boko Haram. The group’s destabilisation of the North-eastern part of NGR benefits these investors because it delays exploration and production on the NGR side of Lake Chad.’’
The political science expert had added that the Lake Chad Basin is estimated to have a reserve of 2.32billion barrels of oil, and 14.65trillion cubic feet of natural gas. He said the oil and gas flows underground across the countries sharing the Lake Chad Basin: NGR, Chad, Niger and Cameroon – ThisDay Dec14, 2015.
In case you missed it, Mr. Ayu said, “The group’s destabilisation of the North-eastern part of NGR benefits these investors because it delays exploration and production on the NGR side of Lake Chad.’’
What a great analysis coming from Mr. Ayu, but let me shed more light on it!
The global multinationals, Glencore and some other French companies are using the Boko boys as terrorist proxies to cause mayhem in the NGR side of lake Chad, to delay oil exploration, and to force SINOPEC, a Chinese firm that’s currently operating in the region out of the region completely.
Early this year, South Sudanese government put a permanent ban on Glencore and SINOPEC from oil exploration inside South Sudan. And sometime this year, China announced she would establish her first military base in Africa.
Brace yourself!!!