As the president cum oil/petroleum minister of Nigeria, Olusegun Obasanjo's hold on the Nigerian economy was so enormous that Icheoku says he is solely responsible for all that went awry with Nigeria including the plummeting value of the Naira which went from 75 Naira to a dollar in 1999 to the over 148 Naira per dollar when he was forced out of his third term dream land in 2007. His regime's sanctioned numerous assassinations and political murders does not help with mitigation at all in the "guilty as charged" verdict by many Nigerians on Olusegun Obasanjo. Now the mother of all Olusegun Obasanjo's litany of corruption has been unearthed - he awarded several oil-blocks worth several millions of dollars to some thirty-eight (38) unregistered firms during his ignominious regime. Holly macro! And Nigerians are still waiting? What for and what other evidence is needed before this medicine man of Otta is tied to the stake and shot for economic sabotage and crimes against Nigerians? The Odi and Zaki Ibiam communities in Bayelsa and Benue States, respectively, massacres carried out by his regime is substantive in this effort too. When the cession of Nigeria's Bakassi to Cameroon is added to the trachea of Obasanjo's crimes, then may be, his head will be delivered hoisted in a stake and paraded in a macabre-style at the Eagle square in Abuja. This Olusegun Obasanjo is a bastard son of a bastard father whose mother is a whore and does not deserve to live a free man in Nigeria. What example is his continued freedom showing to the rest of Nigerian leaders - that it is ok to be a very corrupt tyrant, provided you choose a stooge to succeed you, if forced out of office? Any Nigeria not enraged by Olusegun Obsaanjo's continued freedom, after all the ills that he perpetrated on Nigerians while in office, is either part of the reason why Nigeria is stunted all these years since her independence or is completely insane! How can it be that this army mechanic from Otta should be allowed to get away with all that he visited upon Nigerians during his reign? It really smells bad. What a putrid scumbag, Olusegun Obasanjo is?
This earth-quaking revelation that 38 oil companies, that were not even registered, won interests in 23 oil blocks during the 2005 oil-blocks bids exercise under the infamous Olusegun Obasanjo regime is mind-numbing indeed. A report by the Nigeria House of Representatives ad hoc committee that probed the oil sector from 1999 to 2007 (Obasanjo presidency) also showed that $2,629,275,667 was realised as signature bonus through the sale of additional 36 oil blocks during the bid rounds and have not been duly accounted for. The committee went frther to criticise President Olusegun Obasanjo who was also the then minister of petroleum for all these discrepancies. It was also established that companies that did not even register for the bid process were pre-qualified, and eventually awarded blocks in clear violation of both the Internal Memorandum and the Guidelines of the exercise under the supervision and order and approval of Olusegun Obasanjo. Obasanjo, while in office came up with a "clever by half" initiative to entice National Oil Companies (NOCs) from Asia including China, Taiwan, India and South Korea to acquire oil blocks for the first time in Nigeria. These Asian National Oil Companies (ANOCs) were given the Right of First Refusal (RFR) and discounted signature bonuses on a number of oil blocks in return for their commitment to invest in downstream and infrastructure projects in Nigeria to the sum of US$20 billion. In short Olusegun Obasanjo battered Nigeria's oil and gas for some promised investments.