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ISSUES....
Inside, confidential and off the record
Goodluck and Patience .....
Although it may seem far from us in the West, the President of Nigeria, Mr. Yar’Adua, has been out of the country now for nearly three months, receiving medical aid in Saudi Arabia for a heart condition that has rendered him all but powerless and leaving Nigeria rudderless. There is a growing demand that the Vice President, the fascinatingly named Goodluck Jonathan, be named as the “Acting President.” Given Nigeria’s importance as an exporter of crude oil to the US and to Europe, what happens here is of interest. Mr. Yar’Adua is Muslim from Nigeria’s Islamic northern provinces and has been able to keep these restive provinces in line. We wonder about Mr. Jonathan’s ability to do the same, and of course we are always concerned about Abuja’s ability to keep the restive southern states, where Nigeria’s oil wealth dominates, in line too. Mr. Jonathan, who holds a Ph.D. in zoology, is from Port Harcourt in Nigeria’s south, and has been the governor of what was then referred to as Rivers State, now known as Bayelsa. He is married to the even more wonderfully named, Patience. Patience and Goodluck… you need’em both in the difficult modern world [Ed. Note: Patience was indicted some while back on money laundering charges back in ’06, and the government seized $13.5 million from her accounts. She has not gone to trial, and interestingly Mr. Jonathan has said, in official reports, that his net worth is less than $100,000! This is Nigeria; one of the world’s most corrupt nations… a place where a former Finance Minister once wired $1 billion to his own account in London and fled the country! You cannot make this stuff up; you really can’t.!]
- Dennis Gartman/ The Gartman Letter 01/ 07 / 2010
- For more on interesting comments, you can subscribe to The Gartman Letter by contacting Dennis Garthman: Phone-Fax:or email: dennis@thegartmanletter
ISSUES.... 01/08/2010
ISSUES.... Inside, confidential and off the record
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