ola olabiy:

^^^

Have you asked fund managers in London and New York. And estate agents in Europe/North America.

Those Swiss banks.

And, contractors on Ajah/Lekki axis.

I am sure they are mch more clued-up on this subject and will be able to offer answers.

redsun:

Does it mean nigeria lack credible auditors with all d CAs?When will we start seeing ourselves as people that can solve their own problems and put mathematics at work for real?

excanny:

^^^ then what da heck is shell doing in Nigeria?

Ikengawo:

clearly the people answering these questions are ignorant to the situation at hand in nigeria


nigeria ha158,259,000 million people and produces 2,169 barrels per day
saudi arabia has 27,136,977 ppl and produces 10,782 barrels per day


oil alone is not enough to support nigeria
add the fact that none of those 150 million people pay tax outside of select areas and cities and the fact that kleptocracy has been rampant in the past few years.


oil would have been good for building a foundation for industry, but it wasn't used that way, and won't be able to support a nation of 150million and growing.

redsun:

Reasonable countries are transformed with d discovry of highly sourced and priced natural resources like oil,gold and diamond but nigeria reverse seem to be d case-retrogression.And d quetion is what happened to our oil generated revenues?

tensor777:

A very odd question considering the sheer size of Nigeria, the fact that it is still developing and the size of the population.
In fact the oil revenue, $30 billion per annum, is grossly insufficient to meet the developmental needs of a country like Nigeria.

EzeUche0:

I should be seeing Ijaw, Ogoni, Ibibio, Itsekiri, Urhobo and Igbo millionaires and billionaires, since they are from these oil producing regions.

redsun:

What has my visit to nigeria got to do with my question of systematic accoutability?

ola olabiy:

^^^

Have you asked fund managers in London and New York. And estate agents in Europe/North America.

Those Swiss banks.

And, contractors on Ajah/Lekki axis.

I am sure they are mch more clued-up on this subject and will be able to offer answers.

redsun:

Does it mean nigeria lack credible auditors with all d CAs?When will we start seeing ourselves as people that can solve their own problems and put mathematics at work for real?

MandingoII:

Nigeria do not have oil.

that is shell's oil.

tensor777:

Mention any country that has been developed by mere reliance on mineral resources. And no, tiny countries like Qatar Oman and UAE don't count

martinosi:

Australia, Canada,

AjanleKoko:

Sensible comment.
$30bn is a drop in the bucket, considering that we are a 150 million -strong nation.
Of course in the past there were squandered opportunities, but then, consider that the likes of Gowon did utilize the oil revenues to build up infrastructure in Lagos, expand the railways, build interstate highways, build impressive (for that time) seaport and airports, etc.
The actual squandering started in the mid-80s, when our gap-toothed friend took over the reins of power. But I would still say that, rather than the profligiate use of oil resources, the lack of strong, stable, and purposeful leadership is responsible for the mess in which we find ourselves today.