As Africans are wont to do each time they get together, today our subject of discussion was the Nigerian oil and what it has (has not) done for the country. My Nigerian friends warned that Uganda should be careful with its newly discovered oil otherwise it runs the risk of following in Nigeria's footsteps.
Uganda may wish to dispatch its senior officials to far away places : Nigeria, Canada, Uk, and so to learn how these countries have managed their oil resources ... More on the Nigerian oil from Wikipeadia: The petroleum industry in Nigeria, Africa is the largest industry and main generator of GDP in the continent's most populous nation. Prior to the discovery of oil, Nigeria like many other African states strongly relied on agricultural exports to other countries to supply their economy. In fact, that’s what many Nigerians thought the developers were looking for—palm oil.[2] But after nearly 50 years searching for oil in the state, Shell-BP discovered the oil at Oloibiri in the Niger Delta. Wishing to utilize this newfound oil opportunity, the first oil field began production in 1958.[3] After that, the economy of Nigeria would have seemingly experienced a strong increase. However, competition for the profits that oil produces has created a great level of terror and conflict for those living in the region. Citizens of Nigeria believe that they haven’t been able to see the economic benefits of oil companies in the state. Additionally, because Nigerian government officials have remained majority shareholders in the profits created by the production of Nigerian oil, this leads to government capturing of nearly all oil production, and citizens aren’t seeing socioeconomic benefits, and insist that oil companies should compensate people. Click here for more... http://en.wikipedia.org/wiki/Petroleum_industry_in_Nigeria _______________________________________________ WestNileNet mailing list [email protected] http://orion.kym.net/mailman/listinfo/westnilenet WestNileNet is generously hosted by INFOCOM http://www.infocom.co.ug/ The above comments and data are owned by whoever posted them (including attachments if any). The List's Host is not responsible for them in any way. _______________________________________________
