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Stats: 515,948 members, 41,355 Topics. Date: November 12, 2019, 3:11 pm

If Nigeria Has So Much Oil, Why Are They So Poor?

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Nengeshater Manasseh
Student of Fidel polytechnic Gboko Benue State.

If Nigeria has so much oil, why are they so poor?
Ash Sab
Ash Sab, B Sc.; Postgrad Student in Ren. Energy/OccH&S.
Updated Jul 5
Nigeria is the top oil and gas producer in Africa. The World Bank states that the oil-rich country is one of the world’s fastest developing countries and Africa's biggest economy. The petroleum industry in Nigeria is booming, with an overall increase in oil export; amounting to 98% of the economical wealth of the country.

Yet, extreme poverty is still incredibly rampant. Actually, no… Not just rampant, it's institutional.

Nigeria has approximately 87 million people living in extreme poverty. That's 87 out of the 180 million populating the country.

It's paradoxically inconcievable how wealth and poverty have a stark contrast.

Poor resource and wealth distribution and management, political instability, greed and incompetence, corruption and economic inequalities are the prime source of poverty and famine in Nigeria.

Global Citizen reports that 80% of the energy revenue is only benefiting 1% of the population. This statistic speaks for itself.

Besides oil, Nigeria also has a large market in livestock, food and agricultural production.

Essentially, Nigeria; as a nation has a lot of potential and is clearly developing and growing exponentially according to their economics.

However until there is a political and economical overhaul to monitor and eliminate the disparities, it will always be a country whose people will suffer at the hands of their

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There is corruption in the oil sector.

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This is a good question

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Hmmm issokay thanks for the information

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We suffer because of mismanagement, greed, personal enrichment, selfish desires. The government do not represent poor masses.

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[ @Dianashugar: ] This is a good this is very true and informative please keep me updated always

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[ @dozeuro: ] There is corruption in the this is very true and informative please keep me updated always sector.

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corruption in the oil sector

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Good information to hear indeed

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Yhat is where mismanagement comes in

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Tanks very very very much for ur updating tanks so much

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Olamide

[ @dozeuro: ] There this is very true and informative please keep me updated always corruption in the oil sector.

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Lack of appropriate knowledge, Greed, selfishness, laziness, wastage mentality, over dependency etc

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It is miss management that cause it all

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Because the money are squandered by the politician's

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This question should be directed to Mr Presido.

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It is because of our former president oo
Obansenjo

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[ @dozeuro: ] There is corruption in the oil sector.

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It's paradoxically inconcievable how wealth and poverty have a stark contrast.

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We have all it takes to developed but miotic provably from our leaders put in this object property

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Danga
Thanks for the update as usual refer.ng

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Decide which now, do not delay.....
nigeria dont just need head but good head.

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Nigeria is like chameleon. The international organization sees another thing, and we the citizens see another thing. Please I don't want to be confused

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:-D this is Nigeria every body is a criminal

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Our problem is bad leadership and selfish govt. So bad

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Nigeria lack good government

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The answer is quite simple our leaders don't care about the citizens. [/quote]

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Greed,corruption and mismanagement is the reason we re poor.

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Because the leaders get greedy and all they care about is their family and how they get richer

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Mismanagement, greed, corruption, evil leaders, useless politicians, wrong policies etc These and more is what makes the people poor.

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If Nigeria has so much oil, why are they so poor?

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