Windfall oil revenues: Why is government not willing to benefit all Cameroonians?

It took long years of strenuous arguments for the Yaounde authorities to bring into the budget revenues derived from its crude oil sales. The IMF/World Bank had to threaten the government with a big stick for that to begin to happen, and not so long ago!

Ahmadou Ahidjo began the policy of keeping such moneys apart out of the naïve, if sincere, consideration that he didn’t want Cameroon to suffer the fate of other oil-producing countries which remained poor, in spite of the black gold. He spent some of it to build the Douala-Yaounde road and provided housing in Bonamoussadi/Makepe in Douala.

Poor man, he left the bulk of it for his spendthrift successor to blow; and blow he did it well. Before anyone could say Jack Robinson everything had been squandered, plunging the nation into a long and deep recession. Remember Ben Gun, what he did with his own share of treasure? (“Treasure Island” by R.L. Stevenson)

Manna is not a thing that comes everyday to poor abused economies like Cameroon. But this year 2008 seems to be a blessed year. The long months of very high prices of crude oil have brought Cameroon and other oil producing countries real manna.

Gabon has already indicated it would use the extra revenues to clear its debts while Congo (Brazzaville) is pouring it into development projects. Equatorial Guinea wants to become an el dorado As for Cameroon matters are never so straight forward. The news is not encouraging, not in the least.

Last year crude oil fetched some 630 billion fcfa. Surprisingly, the amount that entered the 2008 budget was 100 billion short! This year upon the 630 billion has been added 287 billion due to the high prices. The government can now count on nearly one billion, about double the contribution of crude oil to the 2009 budget.

But shock! shock! A peep into the draft of the 2009 budget shows that the contribution of crude oil has instead been dropped to only 400 billion fcfa! Where are the authorities keeping the people’s money? Why wouldn’t Cameroon like other countries not taking advantage of the extra revenue to lift the people?

Roads are deplorable; health infrastructure is far too inadequate; schools at all levels are grossly wanting in structures, equipment and teachers; there is no drinking water across the country. Agriculture and animal husbandry are crying for massive investment. Why does the government not want to put the extra money for the benefit of the suffering masses?

Only this week Nigeria decided to pour 700 million dollars (c.350 billion fcfa) into agriculture to reinforce their food self-sufficiency programme. Where have the Yaounde authorities hidden the people’s money?

The observer