Nigeria: History Lessons and Current Issues - Politics - Nairaland
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Would You Vote PMB Again If Given The Opportunity Considering The Current Issues / Nigeria History Makers In Pictures / Great Leaders In Nigeria's History Before Total Colonisation (2) (3) (4)
| Nigeria: History Lessons and Current Issues by kosovo(m): 6:02pm On Dec 28, 2009 |
Nigeria, the most populous nation in Africa, with an estimated 146 million people, is one of the United States governments key strategic partners on the continent. The country is Africas largest producer of oil, and it is the fifth largest oil exporter to the United States. According to some estimates, Nigeria could replace Norway as the worlds third largest exporter of oil within a few years, although social unrest and corruption in the countrys Niger Delta region continue to pose significant challenges to oil production. As the continents second largest economy, Nigerias stability and prosperity affect not only those in the market for Nigerian oil, but the entire region. The country has faced intermittent political turmoil and economic crisis since gaining independence in 1960. Nigerian political life has been scarred by conflict along both ethnic and geographic lines and misrule has undermined the authority and legitimacy of the state apparatus. After 16 years of military rule, Nigeria made a transition to civilian governance in 1999, when Olusegun Obasanjo, a former general, was elected president. Efforts to allow Obasanjo to stand for a third term were defeated in 2006. In May 2007, Obasanjo transferred power to a new administration, marking the countrys first transfer of power from one civilian government to another. Nigeria continues to face serious social and economic challenges. Although Nigerias oil and natural gas revenues are estimated at over $40 billion per year, its human development indicators are among the worlds lowest, and a majority of the population suffer from extreme poverty. Nigeria remains relatively stable, although ethnic and religious clashes in parts of the country are common. Thousands have been killed and many more wounded in periodic religious clashes. Under former President Obasanjo, Nigeria emerged as a major player in Africa. The government helped to resolve political disputes in Togo, Mauritania, Liberia, and Cote dIvoire. Nigeria also played an important role in facilitating negotiations between the government of Sudan and the Darfur rebels. Nigerian troops and police have played a vital role in peacekeeping operations in Sierra Leone and Liberia, and are currently in the Central African Republic, Cote dIvoire, the Democratic Republic of Congo, Haiti, Kosovo, Liberia, Sudan, Timor-Leste, and the Western Sahara. Nigerias most recent general elections were held in April 2007. The U.S. State Department called the elections deeply flawed. Ruling party candidate Umaru YarAdua was announced as the winner of the presidential contest with over 70% of the vote, according to official returns. Domestic and international election observers reported widespread fraud, intimidation and violence. The results of several gubernatorial, parliamentary, and local races have been annulled by election tribunals. The two primary opposition presidential candidates rejected the elections and called for new polls, but the countrys Supreme Court has upheld YarAduas victory. Despite controversy surrounding his election, though, President YarAduas pledges of reform have been welcomed by many Nigerians. Questions remain, however, regarding his health and the pace of those reforms. This report will be updated as the situation warrants.
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| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 6:05pm On Dec 28, 2009 |
Political Developments Nigeria is a federal republic composed of 36 states; its political structure is Similar to that of the United States. The country has a bicameral legislature with a 109-member Senate and a 360-member House of Representatives. Its president, legislators, and governors are elected on four year terms. Nigeria’s most recent elections were held on April 14 and 21, 2007. Many, including the U.S. State Department, maintain that the country is still in political transition, and Human Rights Watch contends that “Nigeria has not held a free and fair general election since the end of military rule. Nigeria was ruled by the military for approximately 28 of its 47 years after independence, and much of its political history has been dominated by a contest for power between north and the south. Northern military leaders dominated Nigerian politics until 1999, when the country made the transition to democracy. Today, the Hausa remain dominant in the military and the federal government, but have lost significant power in many state governments. Since the election of President Obasanjo in 1999, there has been a de-facto power sharing arrangement between the north and the south. The main presidential contenders in the April 2007 election were northerners, and with the retirement of former President Obasanjo, the office has been transferred to a former northern governor for the current presidential term. Tension between the north and the south over perceived inequities in economic and educational development has the potential to lead to widespread political instability. Nigeria’s 2006 census has drawn controversy over its representation of the regional breakdown of the population, reportedly concluding that 53.4% of the population lives in the north. This could affect the country’s complex system for distributing oil revenues, which are derived from oil reserves in Southern Nigeria. Resentment between the northern and southern regions of the country has led to considerable unrest in the past. According to the International Crisis Group, an estimated 8,000 Nigerians were killed in sectarian clashes between 1999 and 2002 and up to 6,000 may have been the target of ethnic or religious killings. Some reports suggest those numbers may be much higher. One local human rights group estimates that some 57,000 people have been killed in religious violence in Plateau State alone since 2001. Violent incidents in the area have diminished considerably since the federal government declared a state of emergency in 2004. |
| Re: Nigeria: History Lessons and Current Issues by Beaf: 6:07pm On Dec 28, 2009 |
kosovo: It is not similar to the US in any way. We run a unitary system, the US operates true fedralism. The unitary system we run is at the heart of every single one of Nigeria's issues. |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 6:10pm On Dec 28, 2009 |
The Transition to Democratic Rule: 1998 & 1999 Elections After years of military rule, Olusegun Obasanjo, who had formerly served as a military head of state from 1976 to 1979, was elected President of Nigeria on February 27, 1999 in nationwide elections. Prior to the presidential election, Obasanjo’s party, the People’s Democratic Party (PDP), won the majority of municipalities in local elections, held in December 1998, while the All People’s Party (APP) came in a distant second, followed by the Alliance for Democracy (AD). In the governorship elections in early January 1999, the PDP also dominated. Atiku Abubakar, a northerner who was elected governor of Adamawa State in the January elections, was chosen by the PDP as the running mate of Obasanjo, a Yoruba from southwestern Nigeria. The APP and AD nominated Chief Olu Falae, a Yoruba, as their joint candidate for president. A former Nigerian security chief and a northerner, Chief Umaru Shinakfi, was chosen as Falae’s running mate. General Obasanjo was elected president by a wide margin. Obasanjo won 62.8% of the votes (18.7 million), while his challenger, Chief Olu Falae, received 37.2% of the votes (11.1 million). In the Senate elections, the PDP won 58% of the votes, APP 23%, and AD 19%. In the elections forthe House of Representatives, PDP received 59% of the votes, AD 22%, and APP 20%. On May 29, 1999, Obasanjo was sworn in as president and the Nigerian Senate approved 42 of 49 members of his cabinet. In his inaugural address, President Obasanjo said that “the entire Nigerian scene is very bleak indeed. So bleak people ask me where do we begin? I know what great things you expect of me at this New Dawn. As I have said many times in my extensive travels in the country, I am not a miracle worker. It will be foolish to underrate the task ahead. Alone, I can do little.” |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 6:14pm On Dec 28, 2009 |
The 2003 Elections In April 2003, Nigerians went to the polls for the second time under a civilian government. President Obasanjo was nominated by his party to serve a second-term. The All Nigeria Peoples Party (ANPP) picked another former military leader, General Muhammadu Buhari, as its presidential candidate. Meanwhile, the former rebel leader, Emeka Odumegwu Ojukwu, who led the secessionist region of Biafra in Nigeria’s civil war in the 1960s, was picked as the presidential candidate of the All Progressive Grand Alliance (APGA). The National Democratic Party (NDP) picked former foreign minister Ike Nwachukwu as its presidential candidate. President Obasanjo was reelected to a second term, and his PDP party won in legislative elections. The Independent National Electoral Commission (INEC) declared that Obasanjo won 61.9% of the votes, while his nearest rival, General Muhammadu Buhari of ANPP, won 32.1% of the votes. In the Senate, the PDP won 72 seats out of 109 seats, while the ANPP won 28 and the AD 5 seats. The PDP won 198 seats in the 360-seat House of Representatives, the ANPP 83 seats, and the AD 30 seats. The elections, however, were marred by serious irregularities and electoral fraud, according to both domestic and international election observers. Among the irregularities noted, much emphasis was placed on “inadequate election administration.” Controversy surrounded the voter registration process, the certification of candidates, and poor logistical preparations for the elections. One INEC official allegedly admitted that the voters’ register was “25-30% fiction. ”Reports of electoral malfeasance, or rigging, were also noted. Ballot box stuffing, falsification of election result forms, and threats of violence were among the most serious charges. In some states, observers noted “systematic attempts at all stages of the voting process to alter the election results.” Although reports of rigging varied widely among states, the extent of irregularities caused some to suggest that they “compromised the integrity of the elections where they occurred.” The European Union delegation noted that in at least six states “the minimum standards for democratic elections were not met.” Several election results were later overturned. In April 2006, the Nigerian Senate considered a bill to amend the constitution. One of the contentious proposals would have removed the two-term limitation and allowed a third-term presidency; Obasanjo supporters had reportedly pushed for this step for months. The Nigerian Senate rejected the legislation in May 2006. |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 6:18pm On Dec 28, 2009 |
2007 Elections Nigeria’s third national elections since the country’s return to democratic rule were held April 14 and 21, 2007, amid widespread allegations of electoral mismanagement and fraud. The ruling party’s presidential candidate, Umaru Musa Yar’Adua, governor of Katsina state in northern Nigeria, who was strongly supported by President Obasanjo, was declared the winner with over 24.6 million votes, or 70%. Yar’Adua’s running mate, Goodluck Jonathan, Governor of Bayelsa State, hails from the Niger Delta. Some critics suggest that Obasanjo “hand-picked” Yar’Adua in order to retain political influence after he leaves office. President Yar’Adua was sworn into office on May 29, 2007. The country’s two largest opposition parties, the ANPP and the Action Congress (AC), rejected the election results. The ANPP’s presidential candidate, former President General Muhammadu Buhari, a northerner, received an estimated six million votes. Buhari lost the presidential election to Obasanjo in 2003, but some opinion polls conducted prior to the 2007 elections suggested that he enjoyed greater support than Yar’Adua. The AC’s chosen candidate, former Vice-President Atiku Abubakar, who also hails from the north, was not among the 24 presidential contenders approved by INEC in May, allegedly because of pending corruption charges against him. His exclusion exacerbated tensions during the pre-election period, and his supporters contend he was unjustly excluded because he had opposed Obasanjo’s third term. A last-minute ruling by Nigeria’s Supreme Court restored Abubakar to the ballot, and he placed third with an estimated 2.6 million votes. The ruling PDP won the majority of the state and federal elections, including 27 of the 36 state governorships. Opposition gubernatorial candidates won in at least six states, including the most populous states of Lagos and Kano. INEC rescheduled elections in five states (Delta, Edo, Enugu, Imo, and Ondo) because of widespread allegations of fraud, threats of violence, or the inability of voters to cast their ballots. The results of several of those repeat elections have been challenged in the courts. To date, the results of six gubernatorial races have been overturned, including those in Adamawa, Anambra, Rivers, Kebbi, Kogi, and Enugu states. A verdict by the special court hearing the challenges to President Yar’Adua’s win has yet to be made. |
| Re: Nigeria: History Lessons and Current Issues by mrperfect(m): 6:23pm On Dec 28, 2009 |
Thank you for your time. |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 6:24pm On Dec 28, 2009 |
Yar’Adua Takes Office. Although many observers suggest Umaru Yar’Adua’s presidency faces a “crisis of legitimacy,” due to the reportedly systemic fraud that underlay his electoral victory, some observers have responded with cautious optimism to his promises of reform. The new president conceded in his inaugural speech that the electoral process was flawed, and has appointed a panel of government officials, former judges, and civil society representatives to recommend changes to the country’s electoral institutions. He weathered early challenges to his administration, including a general strike by Nigeria’s labor unions over a rise in fuel prices and value-added tax. In response to the strike, Yar’Adua reduced the price hike and announced a review of privatization deals on two of the countries refineries. He has also voiced commitments to countering corruption and restructuring the country’s oil and gas industry. An October 2007 report by Human Rights Watch (HRW) noted “encouraging gestures of respect for the rule of law and the notion of transparency in government.” In January 2008, however, HRW suggested that "the credibility of President Yar'Adua's rhetoric about promoting the rule of law is at stake," after changes were made to the country's lead anti-corruption agency. |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 6:29pm On Dec 28, 2009 |
Politically Motivated Corruption Charges. The Obasanjo Administration won praise for some of its efforts to combat the rampant corruption that has plagued Nigeria, but some charge that the former president used corruption charges to sideline critics and political opponents. Investigations by the Economic and Financial Crimes Commission (EFCC), a Nigerian law enforcement agency created in 2003 to combat corruption and fraud, have resulted in the arrest of over 2,000 responsible for illegal email scams and in over 130 convictions for fraud. The International Crisis Group (ICG) suggests that the EFCC has been “used as a political weapon to whip political foes, especially state governors likely to stand for the presidency and their supporters, into line.” Five state governors, some of whom were considered contenders for the PDP presidential nomination, were impeached in 2005-2006 for corruption. The ICG charges that the impeachments were conducted under heightened military presence in those states and lacked due process. Three of the impeachments have been reversed by appeals courts. In October 2006 the head of the EFCC warned that investigations of alleged financial crimes were underway for 31 of the country’s 36 state governors, and eight now face prosecution. In February 2007, the EFCC released a list of 135 candidates in the April elections who were “unfit to hold public office because of corruption,” 53 of which are PDP and 82 opposition candidates. The legality of INEC’s decision to bar candidates on the EFCC’s list from the elections remains in question. Nigeria's most controversial corruption scandal has centered on former Vice President Atiku Abubakar, whose own political ambitions may have been sidelined by allegations of corruption. Abubakar, once an ally of Obasanjo and a founding member of the ruling party, publicly opposed Obansanjo’s third term bid. Abubakar was suspended temporarily from the PDP over corruption charges in late 2006 and was thus unable to participate in the PDP’s primary. He subsequently changed his party affiliation, joining the Action Congress party, and the ruling party sought to have him removed from office. In December 2006 a Nigerian court ruled that as Vice President, Abubakar was immune from prosecution for corruption charges while in office. In February 2007, a Federal Court of Appeals in Abuja confirmed Abubakar’s constitutional right to remain Vice President regardless of his change in party affiliation, but his legal troubles were not over. Abubakar’s name appeared among those on the EFCC’s February list of corrupt candidates, and INEC subsequently excluded him from the presidential ballot. The March 2007 decision by INEC to exclude Abubakar from the ballot was part of a complex series of legal battles between the Obasanjo Administration and the former Vice President. In June 2006, the U.S. Federal Bureau of Investigations (FBI) allegedly requested the assistance of Nigeria’s Economic and Financial Crimes Commission (EFCC) in the investigation of a U.S. congressman who had been accused of taking a bribe from Nigerian officials of the Petroleum Trust Fund, a state agency which Abubakar had chaired. The EFCC inquiry allegedly uncovered evidence linking Abubakar with the bribery case and charged him with stealing over $125 million in federal oil funds; Abubakar denies the charges. In August 2006 the results of the inquiry were provided to the President, who turned the matter over to an Administrative Panel of Inquiry, which in turn recommended prosecution. The indictment was passed to the National Assembly in September. In November, a Lagos justice nullified the EFCC report and “set aside” the Panel of Inquiry, ruling that the report had no legal foundation. The EFCC appealed the judgement. Contd., Below |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 6:30pm On Dec 28, 2009 |
According to Nigeria’s constitution, a presidential aspirant is ineligible to run if “he has been indicted for embezzlement or fraud by a Judicial Commission of Inquiry or an Administrative Panel of Inquiry.” In early March, 2007, a Federal High Court ruled that INEC lacked the authority to disqualify candidates unless ordered to by a court of law. On April 3, a Nigerian appeals court ruled that the disqualification of candidates was in fact within INEC’s authority. Hours later, the Federal High Court in Abuja contradicted that ruling, determining that INEC lacked the authority to exclude Abubakar from the election and ordering that the electoral body place Abubakar’s name on the ballot. Although the appeals court is the higher of the two judicial bodies, according to some legal analysis neither court has jurisdiction over the case of the other, leaving the issue unresolved. The final decision rested with the country’s Supreme Court, which had been expected to consider the matter during the week of April 9, 2007. On April 11, President Obasanjo declared April 12 and 13 public holidays to allow voters to travel home for the elections on April 14, effectively postponing any ruling by the Supreme Court until the week of the presidential elections. On April 16, five days before the elections, the court ruled that INEC could not disqualify candidates and thus Abubakar’s name should be included on the ballot. In August 2007, the government announced plans to “streamline criminal prosecution of corruption-related offenses” by requiring that all prosecuting agencies, including the EFCC and the Independent Corrupt Practices Commission (ICPC), report and initiate criminal proceedings with the consent and approval of the attorney general. Prior to this announcement, the EFCC and ICPC prosecuted offenses independently from the ministry of justice. Critics have expressed concerns that the new procedures could impede prosecutions. In late December 2007, Nigeria's Inspector General of Police announced the transfer of EFCC head Nhuru Ribadu to the state of Jos to attend a one-year course at a Nigerian policy institute. Some observers have questioned whether Ribadu's transfer may be linked to his order two weeks earlier for the arrest of former Delta State Governor James Ibori, one of the primary financial contributors to Yar'Adua's presidential campaign. The Executive Director of the U.N. Office on Drugs and Crime wrote a letter to President Yar'Adua on January 7 suggesting Ribadu's removalcould be detrimental to ongoing investigations and might damage the reputation of the EFCC in the view of international donors. The EFCC has continued to prosecute high profile cases, however, and in January 2008 ordered the arrest of Lucky Igbinedion, former governor of Edo State, who is alleged to have stolen $25 million. |
| Re: Nigeria: History Lessons and Current Issues by violent(m): 6:34pm On Dec 28, 2009 |
These are Historical events and NOT current issues! |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 6:40pm On Dec 28, 2009 |
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| Re: Nigeria: History Lessons and Current Issues by Nobody: 6:46pm On Dec 28, 2009 |
this is a silent call for oga becomrich; |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 6:48pm On Dec 28, 2009 |
Current Economic and Social Conditions Nigeria has the second largest economy in Africa and generates over $47 billion a year in oil and gas revenue, and yet many of its people are among the continent’s poorest. According to USAID, 70% of Nigerians live on less than $1 per day, and the average life expectancy is only 47 years. Nigeria has the world’s third largest HIV/AIDS population (after South Africa and India), and in 2004 was home to two-thirds of the world’s polio cases. The country ranks 158 of 177 countries on U.N. Development Programme’s (UNDP) Human Development Index.49 The U.S. State Department attributes Nigeria’s lack of social and economic development to “decades of unaccountable rule.” Nigeria’s economy depends heavily on its oil sector. According to the World Bank, oil and gas production account for 85% of government revenues, 99% of export earnings, and 52% of the country’s Gross Domestic Product (GDP). The European Union is a major trading partner, and the United States is a significant consumer of Nigerian oil. The Economist Intelligence Unit forecasts growth of 7.5% for 2008, due primarily to expanded deepwater oil production. As the country’s extractive industries have grown, many of its other industries have stagnated or declined. Once thriving agricultural production has been on the decline for years, and Nigeria now imports food and refined petroleum products. In an effort to increase its refining capacity, the government has granted permits for the construction of several independently owned refineries. The Yar’Adua Administration has stressed its commitment to reforming the oil and gas industry. In August 2007, the government announced plans to dissolve the Nigerian National Petroleum Corporation (NNPC), which oversees regulation of the industry and has been criticized for its lack of transparency. Under Yar’Adua’s proposal, a new National Energy Council (NEC), headed by the president, will oversee the industry. The President has appointed Rilwanu Lukman, a former OPEC secretary-general, as a member of the NEC and as chairman of the Oil and Gas Reforms Implementation Committee. Lukman’s committee is now reviewing the contracts of foreign oil companies, suggesting “we may have to reconsider some of our generous terms.”51 The government reportedly has plans to consolidate its joint ventures under one company, similar to Malaysia’s state-run oil company, Petronas. Some analysts suggest the international oil majors would respond positively to such a consolidation, which could increase efficiency in the approval of new projects. The Obasanjo administration made significant commitments to economic reform, including efforts to deregulate fuel prices and to improve monitoring of official revenue. But the country has made slow progress in privatizing state enterprises and eliminating trade barriers. According to the U.S. State Department, corruption in Nigeria is “massive, widespread, and pervasive.”54 Nigeria ranks 147 out of 179 countries on Transparency International’s Corruption Perceptions Index. Many observers suggest that the country’s development willbe hindered until it can reverse its perceived “culture of impunity for political and economic crimes.” President Yar’Adua has ordered the review of all privatization agreements approved by former President Obasanjo, amid charges of corruption associated with the sales, and has already reversed several contracts. |
| Re: Nigeria: History Lessons and Current Issues by Lacrisma(m): 6:50pm On Dec 28, 2009 |
kosovo and rubbish-----  |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 6:56pm On Dec 28, 2009 |
Economy - overview: Economy - overview: Oil-rich Nigeria, long hobbled by political instability, corruption, inadequate infrastructure, and poor macroeconomic management, has undertaken several reforms over the past decade. Nigeria's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive oil sector, which provides 95% of foreign exchange earnings and about 80% of budgetary revenues. Following the signing of an IMF stand-by agreement in August 2000, Nigeria received a debt-restructuring deal from the Paris Club and a $1 billion credit from the IMF, both contingent on economic reforms. Nigeria pulled out of its IMF program in April 2002, after failing to meet spending and exchange rate targets, making it ineligible for additional debt forgiveness from the Paris Club. Since 2008 the government has begun showing the political will to implement the market-oriented reforms urged by the IMF, such as to modernize the banking system, to curb inflation by blocking excessive wage demands, and to resolve regional disputes over the distribution of earnings from the oil industry. In 2003, the government began deregulating fuel prices, announced the privatization of the country's four oil refineries, and instituted the National Economic Empowerment Development Strategy, a domestically designed and run program modeled on the IMF's Poverty Reduction and Growth Facility for fiscal and monetary management. In November 2005, Abuja won Paris Club approval for a debt-relief deal that eliminated $18 billion of debt in exchange for $12 billion in payments - a total package worth $30 billion of Nigeria's total $37 billion external debt. The deal requires Nigeria to be subject to stringent IMF reviews. Based largely on increased oil exports and high global crude prices, GDP rose strongly in 2007 and 2008. President YAR'ADUA has pledged to continue the economic reforms of his predecessor with emphasis on infrastructure improvements. Infrastructure is the main impediment to growth. The government is working toward developing stronger public-private partnerships for electricity and roads. |
| Re: Nigeria: History Lessons and Current Issues by paddylo1(m): 7:02pm On Dec 28, 2009 |
@kosovo nice effort. . .but some of your figures are dated. . . for example nigeria GDP is now $210bln and GDP per capita is $2300 oil is closer to 25% of GDP not the 52% u quote(see latest breakdown in chart below) and the poverty figures u quote is now 70% of nigerians live on $2 dollars a day. . .not quite good,but better than $1 a day. . . HIV aids population might also be a little dated. . .since nigeria has been reducing infections for a while and there has been admissions of over-estimation/exageration by these aid donors in places like kenya and uganda Agricultural output has actually been on the upswing for some time. . .as this accounted for the bulk of nigerias estimated 6.5% growth rate for 2009 (what has actually declined is cash crops like cocoa and groundnuts),but other output like cassava,soybeans and other is on a rise also the foriegn farmers in kwara state are helping to increase output  |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 7:05pm On Dec 28, 2009 |
GDP (purchasing power parity): $338.1 billion (2008 est.) $318.7 billion (2007) $299.5 billion (2006) note: data are in 2008 US dollars GDP (official exchange rate): $220.3 billion (2008 est.) GDP - real growth rate: 6.1% (2008 est.) 6.4% (2007 est.) 6.2% (2006 est.) GDP - per capita: $2,300 (2008 est.) $2,200 (2007 est.) $2,100 (2006 est.) note: data are in 2008 US dollars GDP - composition by sector: agriculture: 18% industry: 50.9% services: 31.1% (2008 est.) Labor force: 51.04 million (2008 est.) Labor force - by occupation: agriculture: 70% industry: 10% services: 20% (1999 est.) Unemployment rate: NA Household income or consumption by percentage share: lowest 10%: 1.9% highest 10%: 33.2% (2003) Distribution of family income - Gini index: 43.7 (2003) Investment (gross fixed): 21.4% of GDP (2008 est.) Budget: revenues: $29.49 billion expenditures: $30.61 billion (2008 est.) Public debt: 12.2% of GDP (2008 est.) Inflation rate (consumer prices): 10.6% (2008 est.) Central bank discount rate: 9.5% (31 December 2007) Commercial bank prime lending rate: 16.94% (31 December 2007) Stock of money: $21.72 billion (31 December 2007) Stock of quasi money: $19.07 billion (31 December 2007) Stock of domestic credit: $16.15 billion (31 December 2007) Market value of publicly traded shares: $86.35 billion (31 December 2007) Agriculture - products: cocoa, peanuts, palm oil, corn, rice, sorghum, millet, cassava (tapioca), yams, rubber; cattle, sheep, goats, pigs; timber; fish Industries: crude oil, coal, tin, columbite; palm oil, peanuts, cotton, rubber, wood; hides and skins, textiles, cement and other construction materials, food products, footwear, chemicals, fertilizer, printing, ceramics, steel, small commercial ship construction and repair Industrial production growth rate: 2.8% (2008 est.) Electricity - production: 22.11 billion kWh (2006 est.) Electricity - consumption: 15.85 billion kWh (2006 est.) Electricity - exports: 0 kWh (2007 est.) Electricity - imports: 0 kWh (2007 est.) Oil - production: 2.352 million bbl/day (2007 est.) Oil - consumption: 312,000 bbl/day (2006 est.) Oil - exports: 2.473 million bbl/day (2005) Oil - imports: 154,300 bbl/day (2005) Oil - proved reserves: 36.22 billion bbl (1 January 2008 est.) Natural gas - production: 34.1 billion cu m (2007 est.) Natural gas - consumption: 12.9 billion cu m (2007 est.) Natural gas - exports: 21.2 billion cu m (2007 est.) Natural gas - imports: 0 cu m (2007 est.) Natural gas - proved reserves: 5.21 trillion cu m (1 January 2008 est.) Current account balance: $7.722 billion (2008 est.) Exports: $83.09 billion f.o.b. (2008 est.) Exports - commodities: petroleum and petroleum products 95%, cocoa, rubber Exports - partners: US 51.6%, Brazil 8.9%, Spain 7.7% (2007) Imports: $46.36 billion f.o.b. (2008 est.) Imports - commodities: machinery, chemicals, transport equipment, manufactured goods, food and live animals Imports - partners: China 10.6%, Netherlands 7.9%, US 7.8%, South Korea 6.6%, UK 5.7%, France 4.3%, Brazil 4.2%, Germany 4.1% (2007) Reserves of foreign exchange and gold: $72.04 billion (31 December 2008 est.) Debt - external: $9.132 billion (31 December 2008 est.) Stock of direct foreign investment - at home: $35.75 billion (2008 est.) Stock of direct foreign investment - abroad: $12.83 billion (2008 est.) Exchange rates: nairas (NGN) per US dollar - 117.8 (2008 est.), 127.46 (2007), 127.38 (2006), 132.59 (2005), 132.89 (2004) |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 7:16pm On Dec 28, 2009 |
!@paddy_lo @kosovoThanks, i have removed the Figure, an updated one would be live soon |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 7:20pm On Dec 28, 2009 |
Misallocation of State Funds. Former Nigerian dictator Sani Abacha reportedly stole more than $3.5 billion during the course of his five years in power. Switzerland, the first country to repatriate stolen funds to Nigeria, transferred an estimated $505.5 million to Nigeria between 2005 and 2006. According to study by the World Bank, a significant percentage of those funds were used by the Nigerian government toward meeting the country’s Millennium Development Goals (MDGs). The government has also recovered $149 million of the funds stolen by Abacha and his family from the autonomous British island of Jersey and an estimated $150 million from Luxembourg. Other Abacha funds remain frozen in accounts in Liechtenstein, Luxembourg, Switzerland, and the United Kingdom. The EFCC estimates that over $380 billion has been expropriated by Nigeria’s political and military leaders since oil sales began in the 1970s.57 In 2005, Nigerian Senate Speaker Adolphus Wabara was forced to resign after President Obasanjo accused him of taking more than $400,000 in bribes from the Minister of Education, Fabian Osuji. The Education Minister was also dismissed. The Minister of Housing, Alice Mobolaji Osomo, was also fired for allocating more than 200 properties to senior government officials instead of public sale. In October 2006, the governor of Ekiti State was impeached by local legislators on corruption charges. In a controversial move, Obasanjo declared a state of emergency in Ekiti, suspending the state’s democratic institutions and naming a retired general as governor until the 2007 elections. In the view of some observers, Obasanjo’s anti-corruption campaign was seen as the most serious and effective of such efforts in decades, but others contend there were political motivations behind some investigations. More recently, the Speaker and Deputy Speaker of Nigeria’s House of Representatives resigned under threat of impeachment amidst allegations that the they used $5 million in government funds to renovate their official residences and to buy 12 cars. Former President Obasanjo himself has not escaped charges of corruption. In March 2007, a Nigerian Senate committee report recommended that both Obasanjo and Abubakar be prosecuted for illegal use of government funds. Obasanjo has rejected the charges. Several multinational corporations are now under investigation for paying bribes in Nigeria. The U.S. Securities and Exchange Commission has subpoenaed documents from Royal Dutch Shell related to a probe of an alleged bribery case at a Nigerian gas plant. The alleged bribery case is being investigated in several countries, including France, Nigeria, Japan, and the United Kingdom. The companies involved in the natural gas project and the alleged bribery include a Halliburton subcontractor, Chicago Bridge and Iron; Total of France; and Italy’s Eni. In December 2007, Nigeria suspended its contracts with the Siemens after a German court found the company guilty of paying an estimated 10 million euros in bribes to Nigerian officials between 2001 and 2004.59 |
| Re: Nigeria: History Lessons and Current Issues by mamagee3(f): 7:49pm On Dec 28, 2009 |
This thread is full of long Jargons I'll be back.  |
| Re: Nigeria: History Lessons and Current Issues by violent(m): 8:05pm On Dec 28, 2009 |
mama-gee: yep it is! i wonder why poster can't simply put the link where he did the copy and paste job rather than take up all these space feeding us with so much trash Seun will be very angry |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 8:16pm On Dec 28, 2009 |
violent:What do you know about the Supreme Commander Of Nairaland, you want my link and references? here is it, “Obasanjo Rejects Graft Indictment,” BBC News, February 22, 2007. “Nigeria to Blacklist Siemens After Bribery Scandal,” Reuters, December 5, 2007. Robert I. Rotberg, “Nigeria: Elections and Continuing Challenges,” Council on Foreign Relations, April 2007. U.S. State Department, “Nigeria,” Country Report on Human Rights Practices 2006. Human Rights Watch, “Election or ‘Selection’? Human Rights Abuses and Threats to Free and Fair Elections in Nigeria,” April 2007, and “Nigeria: Presidential Election Marred by Fraud, Violence,” April 24, 2007. The International Crisis Group, “Want in the Midst of Plenty,” Africa Report No. 113, July 19, 2006, p. 15. “Jos Voters Angry and Divided,” IRIN, April 9, 2007. Human Rights Watch, “Election or ‘Selection’? Human Rights Abuses and Threats to Free and Fair Elections in Nigeria,” April 2007. The International Republican Institute, 2003 Election Observation Report, p. 65. The National Democratic Institute, “Statement of the NDI International Election Observer Delegation to Nigeria’s April 19 Presidential and Gubernatorial Elections,” April 21, 2003. The European Union, EU Election Observation Final Report: Nigeria, p. 2. International Crisis Group, “Nigeria’s Elections: Avoiding A Political Crisis,” Africa Report No. 123, March 28, 2007. “Presidential Polls: Buhari, Atiku, Others Call for Postponement,” This Day, April 18, 2007. “Landslide Win for Yar’Adua is ‘Flawed,” Financial Times, April 23, 2007. See, for example, “Nigerian: Forced to Vote Against My Wish,” BBC, April 23, 2007. “Call for Nigeria Street Protests,” BBC, April 24, 2007. The National Democratic Institute, “Statement of the National Democratic Institute International Election Observer Delegation to Nigeria’s April 21 Presidential and National Assembly Elections,” April 23, 2007. “Nigeria: Elections Fraudulent; EU, Others,” Daily Trust (Abuja), April 24, 2007. The International Republican Institute, “Nigeria’s Elections Below Acceptable Standards: Preliminary Findings of IRI’s International Election Observation Mission,” April 22, 2007. http://www.photius.com/countries/nigeria/economy/index.html . . E.T.C Thinking that i got all the information from one website is totally Premature! |
| Re: Nigeria: History Lessons and Current Issues by violent(m): 8:18pm On Dec 28, 2009 |
Good job! keep it up, u should get a check in the mail from Nairaland admin |
| Re: Nigeria: History Lessons and Current Issues by oderemo(m): 8:19pm On Dec 28, 2009 |
i thought its becomerich for a minute. whaoh. |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 8:22pm On Dec 28, 2009 |
violent:No comment! |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 11:55pm On Dec 28, 2009 |
ode remo:  |
| Re: Nigeria: History Lessons and Current Issues by SEFAGO(m): 12:05am On Dec 29, 2009 |
kosovo abeg lock this thread it is not going anywhere. Thanks |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 12:08am On Dec 29, 2009 |
SEFAGO:You do not tell me which thread to lock an unlock! Thanks |
| Re: Nigeria: History Lessons and Current Issues by SapeleGuy: 12:38am On Dec 29, 2009 |
kosovo: Bros Kosovo, abeg make you dey take correction, it is not a sign of weakness. Lock the thread or at least change the title to Nigeria: History Lesson. |
| Re: Nigeria: History Lessons and Current Issues by kosovo(m): 7:02am On Dec 29, 2009 |
SapeleGuy:Noted! |
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