Crude oil is the curse to Nigerias standard of living, before the discovery of crude oil, Nigeria lives on Agricultural output and above 50% Nigerians are living good standard of living before 1956 but since we discovered crude oil in 1958 every Nigerian said goodbye to the Agriculture sector and even government stopped financing agriculture effectively since 1958 not knowing that it is our doom as a nation. Nigeria is the largest oil producer in Africa and was the worlds fourth leading exporter of LNG in 2012.Despite all these, over 65% Nigerians are still living in the abject poverty, It is only few Nigerians that are benefiting crude oil in Nigeria. The crude oil cabals are getting richer on daily basis while the rest masses are dying of starvation and poverty on daily basis. What is the essence of national annual budget? When about 70% of annual budget are using to pay the salaries of legislators and executives yearly in Nigeria. Crude oil is the blessing to the few Nigerians while it is a curse to numerous Nigerians who are suffering under the crude oil economic. Algeria has about 2.1 million barrels of petroleum oil per day harvesting , Angola has about 1.9 million barrels of petroleum per day harvesting, Libya has 1.7 million barrels of petroleum per day harvesting, Sudan has 487 000 barrels of petroleum per day, Equatorial Guinea has 346 000 barrels of petroleum per day harvesting and Gabon has 241700 barrels of petroleum per day harvesting including EGYPT. The mentioned countries truly have crude oil but their citizens are suffering badly but their presidents are the richest president in Africa Mr Jose Eduardo dos Santos president of Angola is the richest president in Africa with the networt. Administration is what we lack in Africa continent.
Posted on: Fri, 14 Nov 2014 12:17:50 +0000
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