Nigeria: A Country So Corrupt It Would Be Better To Burn Our Aid Money

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Please read this article culled from
dailymail.co.uk about Nigeria.

Nigeria is not quite the most corrupt
country on earth. But according to
Transparency International, which
monitors international financial
corruption, it is not far off — coming
a shameful 172nd worst among the 215
nations surveyed.
Only countries as dysfunctional,
derelict and downright dangerous as
Haiti or the Congo are more corrupt.
In theory, Nigeria’s 170 million-strong
population should be prospering in a
country that in recent years has
launched four satellites into space and
now has a burgeoning space
programme.
Moreover, Nigeria is sitting on crude
oil reserves estimated at 35 billion
barrels (enough to fuel the entire
world for more than a year), not to
mention 100 trillion cubic feet of
natural gas.
It also manages to pay its legislators
the highest salaries in the world, with
a basic wage of £122,000, nearly double
what British MPs earn and many
hundreds of times that of the country’s
ordinary citizens.
The oil industry is highly corrupt,
with 136 million barrels of crude oil
worth $11¿billion (£7.79 billion) were
illegally siphoned off in just two years
from 2009 to 2011
No wonder the ruling elite can afford
luxury homes in London or Paris, and
top-end cars that, across West Africa,
have led to the sobriquet ‘Wabenzi’, or
people of the Mercedes-Benz.
Yet 70 per cent of Nigerians live below
the poverty line of £1.29 a day,
struggling with a failing infrastructure
and chronic fuel shortages because of
a lack of petrol refining capacity, even
though their country produces more
crude oil than Texas.
And that poverty is not for want of
assistance from the wider world.
70 per cent of Nigerians live below the
poverty line of £1.29 a day, struggling
with a failing infrastructure and
chronic fuel shortages
Since gaining its independence in
1960, Nigeria has received  $400 billion
(£257 billion) in aid —  six times what
the U.S. pumped into reconstructing
the whole of Western Europe after
World War II.
Nigeria suffers from what economists
call the ‘resource curse’ — the paradox
that developing countries with an
abundance of natural reserves tend to
enjoy worse economic growth than
countries without minerals and fuels.
The huge flow of oil wealth means the
government does not rely on taxpayers
for its income, so does not have to
answer to the people — a situation that
fosters rampant corruption and
economic sclerosis because there is no
investment in infrastructure as the
country’s leaders cream off its wealth.
Nigerian police can often be easily
bribed to look the other way in a
country where corruption in Nigeria is
endemic
Corruption in Nigeria is endemic —
from parents bribing teachers to get
hold of exam papers for their children
through clerks handed ‘dash’ money to
get round the country’s stifling
bureaucracy to policemen taking
money for turning a blind eye.
It is at its most blatant, perhaps, in the
oil industry, where 136 million barrels
of crude oil worth $11 billion (£7.79
billion) were illegally siphoned off in
just two years from 2009 to 2011, while
hundreds of millions of dollars in
subsidies were given to fuel merchants
to deliver petrol that never
materialised.
Whether the country is ruled by
civilians or soldiers, who invariably
proclaim their burning desire to
eradicate civilian corruption, it makes
absolutely no difference.
The huge flow of oil wealth means the
government does not rely on taxpayers
for its income, so does not have to
answer to the people
The military ruled Nigeria between
1966 and 1979 and from 1983 to 1999,
but if anything, corruption was worse
when they were in charge since they
had a habit of killing anyone
threatening to expose them.
It is estimated that since 1960, about
$380 billion (£245 billion) of
government money has been stolen —
almost the total sum Nigeria has
received in foreign aid.
And that even when successive
governments attempt to recover the
stolen money, much of this is looted
again.
President Sani Abacha, a military
dictator who ruled in the Nineties, had
accrued a staggering $4¿billion
(£2.58¿billion) fortune by the time he
died
In essence, 80 per cent of the country’s
substantial oil revenues go to the
government, which disburses cash to
individual governors and hundreds of
their cronies, so  effectively these huge
sums remain in the hands of a mere 1
per cent of the Nigerian population.
Political power is universally regarded
as a chance to reap the fortunes of
office by the ruling elite and its
families and tribes.
The most egregious example was
President Sani Abacha, a military
dictator who ruled in the Nineties and
accrued a staggering $4 billion (£2.58
billion) fortune by the time he died of a
heart attack while in bed with two
Indian prostitutes at his palace in the
nation’s capital, Abuja, in 1998.
Abacha’s business associates did
nicely, too — one of them deposited
£122 million in a Jersey offshore
account after selling Nigerian army
trucks for five times their worth.
Public office is so lucrative that people
will kill to get it. Nigeria has 36 state
governors, 31 of whom are under
federal investigation for corruption.
In one of the smallest states, a
candidate for the governorship
occupied by one Ayo Fayose received
texts signed by the ‘Fayose M Squad’ —
and it was clear the ‘M’ was for
‘Murder’ when they stabbed and
bludgeoned a third candidate to death
in his own bed.
By the end of its term of office, the
British Government will have handed
over £1 billion in aid to Nigeria.
Given the appalling levels of
corruption in that nation, this largesse
is utterly sickening — for the money
will only be recycled into bank
accounts in the Channel Islands or
Switzerland.
Frankly, we might as well flush our
cash away or burn it for all the good
it’s doing for ordinary Nigerians.

Posted By K2I

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About iamk2i

IamK2I. A Radio OAP. Media Is My Life!!!

Posted on August 10, 2013, in News. Bookmark the permalink. Leave a comment.

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