PETER OBI AND THE NIGERIAN OIL BLOCK

In what might as well be the first of such a
development, a Nigerian well connected at the
highest level of government in the country has
turned down the opportunity to own an oil block.

The man is Mr. Peter Obi, Chairman of the
Securities and Exchange Commission (SEC) and
immediate past Governor of Anambra State, South-
East Nigeria.
News Express learnt that Mr. Obi, who is
Honourary Special Adviser on Finance to out-going
President Goodluck Jonathan, was approached by
one of the key players in the auctioning of the
marginal fields and offered the opportunity to bid
but turned it down on the spot, saying that he did
not like getting involved in unfamiliar businesses.
"I am a trader. After selling their oil, let the oil
entrepreneurs come and buy my tomato ketchup
and other wares," Obi reportedly replied.
The last round of bidding for Nigeria's marginal
fields opened in late November 2013 when Mr. Obi
was still the Anambra State helmsman.
The former governor, who was Deputy Director-
General (South) of the Peoples Democratic Party
(PDP) Presidential Campaign Organisation for the
March 28, 2015 ballot, confirmed the development
during a recent chat with a circle of close friends.
"I do not like getting involved in businesses that I
am not very familiar with," Obi said. He explained
that his core competence is in trading – which he
has done since his university days in Nsukka –
and banking, in which he later excelled, serving on
the boards of three banks, including Fidelity Bank,
of which he was Board Chairman before contesting
the Anambra State governorship in 2003.