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Originally Posted by cmac2012
I've read and heard many accounts of average Nigerians having to endure all sorts of toxicity and land damage from the oil operations while seeing next to nothing of the benefits of all that foreign exchange. That kind of ill-will combined with run of the mill banditry can't be good.
The more we place the fate of our economic engine in such unstable hands, the shakier our footing is.
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True about the oil industry in Nigeria. I know a Canadian oil exec who travels there frequently and who must hire a band of armed men and travel in convoy. According to him, the word, "corrupt" has no meaning, sort of the way Mexico has been spiraling downward into kleptocracy. He says the laws are on the books but it's a simple bribe that if you don't pay, your facilities will experience terrible accidents and fines will be imposed, etc. He holds his nose and does it.
Also true about the people getting next to nothing. Wealth is power, so it is distributed in tribal networks, mostly.