FG earns N3.8tn from crude oil exports
By Oluyinka Akintunde
Published: Thursday, 9 Nov 2006

Nigeria is potentially African richest country and of course, one of the
world largest producer of crude oil. Nigeria, with her huge reserves of
mineral and agricultural richest and manpower should be enjoying some the
highest global living standards; however, corruption continues to pose a big
challenge to the nation. Ironically, available indicators, some of which
have been posted on this forum point, to some of the lowest living standards
in Africa, for a large majority of Nigerians 130 million people. And the
most recent indicator which was also posted on this forum last week show
that the situation is getting worse. Nigeria is said to be one of the
richest oil country in the world and the wealthiest in Africa. From the
article below, Nigeria earned N3.792tn in 8 months. No wonder why our
richest folks in Nigeria are either elected or appointed officials in the
government; and they always chase their own share of the oil proceeds. It
also explains why, to secure a political position in Nigeria is a "Do or
Die" task. Oil has proved to be a blessing and a curse for Nigeria and has
been especially damaging in certain region of our homeland. Most part of
the country, especially in the regions where this oil is produced remains
mired in poverty. Large areas have erratic electricity supplies and little
or no government services such as good water quality, few functioning
schools, healthcare centers, emergency response system, post offices, police station, etc. In Niger Delta region, oil continues to blight rather than
benefit the lives of most delta population. The decades of neglect and
deprivation, and the few prospects for fundamental change, have resulted in
increasing levels of violence between inproverished communities competing
for control of the oil riches and against oil company personal and property.
DO YOU BLAME THEM?
Other Nigerians are busy chasing government or political positions at all cost in their efforts to partake of the oil wealth which
will be used to enrich themselves instead of making lives comfortable for
all Nigerians. More >>