We have crude oil but we are still poor

[Pi-network314159]

We as Nigerians we have crude oil but our country is still poor and going backward on a daily. And the question is, is it suppose to be so as an oil producing country, states, LGA's and communities?

When you travel and log in to our local communities in the villages as SPDC Shell host communities that has now been taking over by Renaissance, you see that there's nothing to write home about.

The local content agreement has it that they will bring development to the Shell host communities, things like,
1. Electricity.
2. Good roads.
3. Scholarships.
4. Borehole's water.
5. Youths empowerments.
6. Employment in their companies.
7. Monthly stipends for old men/women
etc

But none of these is being carried out.

Truely by reality in an oil producing country or state everybody needs not to suffer, there should be agreement between government and this company and Also memorandum of understanding between company and Host community, but However when this demand are fulfilled, the community caretakers, CDC, chairman and chiefs that soposed to do the right thing, out of greediness will do the opposite, making it look like this company are not doing well. This is the reality of oil producing countries that faces poverty. Corruption, greediness and wickedness amongst representatives is what makes the masses suffer when they have all what it takes to enjoy their natural resources.

[Judith87403]

Having natural resources does not make  country rich, what create wealth is having the knowledge and political will to convert harness those resources and convert them to wealth. This problem is not peculiar to Nigeria or Africa, so many countries and continents have their share of it. From Afghanistan to Congo, Niger, Ivory Coast to North America, there are always those countries that have abundance of resources but lacks the political will to convert them to wealth. We should move from the era of blaming the West and imperialist for the problem because any country that is able to fix their leadership can make headway like China did.

I argue with you that natural resources doesn't make a country rich, it does but when mismanaged that is when the country suffers. There are countries that made good use of their natural resources and used the proceeds for nation building while there are others that uses the proceeds to enrich themselves and their loyalists. A country that produces crude oil and gas should be able to become rich because they are rare natural resources with great value. Politicians are just so greedy which is the reason why some of these countries are suffering. When greedy people takes leadership roles in government, they see everything as an opportunity to loot instead of putting the development and wellbeing of the nation first.

[Ab de villiers]

Having natural resources does not make  country rich, what create wealth is having the knowledge and political will to convert harness those resources and convert them to wealth. This problem is not peculiar to Nigeria or Africa, so many countries and continents have their share of it. From Afghanistan to Congo, Niger, Ivory Coast to North America, there are always those countries that have abundance of resources but lacks the political will to convert them to wealth. We should move from the era of blaming the West and imperialist for the problem because any country that is able to fix their leadership can make headway like China did.

Changing the destiny of any country begins with the right leadership. Until the law is equal for the rich and the poor, no foreign or domestic country will be ready to invest. Now is the time to promote the Sunnah in the country, simplify the tax system, and attract foreign investment. Strong political and economic leadership is needed. Get better trade agreements for your country so that the country can increase its exports. Eliminate corruption and fulfill its basic educational needs. All these steps are possible only on the basis of political determination and education. When a sincere leadership comes, it first strengthens the institutions.

[Davidloki]

It used to happen that some will have gold and other abundant mineral resources which nature has given, but it is such a pity that many countries could not identify this opportunities and see what lies ahead of them, instead they will sell their pride for money and other material things they needed, but things are getting to change now as there is continuous increase in development of infrastructures to discover and explore some of these resources.

When the British colonized most of these African countries, they saw something that the people of these countries could not see. Ignorance was a big problem amongst these African countries and that is what the British capitalized on, and that is also one of the reasons why most of these African counties cannot utilize their resources to full potential.

Also, bad governance has an adverse effect on the economic condition of the country, and that has caused reduced growth over the years compared with their counterparts that gained independence almost the same time.

[lombok]

When the British colonized most of these African countries, they saw something that the people of these countries could not see. Ignorance was a big problem amongst these African countries and that is what the British capitalized on, and that is also one of the reasons why most of these African counties cannot utilize their resources to full potential.

Also, bad governance has an adverse effect on the economic condition of the country, and that has caused reduced growth over the years compared with their counterparts that gained independence almost the same time.

The lack of technical know how at the time of colonization led to exploitation of the natural resources without any form of resistance. The colonizers were aware of the international value of their raw materials, whereas the locals did not have the means to process the natural resources independently. The lack of a strong governance structure after the period of colonization worsened the development problem in the area. Poor governance and corruption were responsible for restraining the economic growth of the nation.

[Obim34]

But none of these is being carried out.

I'm sure you know that every detail on the agreement is attended to, companies don't neglect any part of the agreement, they also keep an agreement of offering job opportunities to indigenes of the community, which is often part of the agreement, but what you fail to understand is that everything is politized, there is no genuine connection to enjoy those benefits, even as an indigene.

The government is focused on stealing crude oil because it is the easiest way to steal without being questioned, with evidence for it. We talk about exploitation from foreigners and how they plan to steal resources, but forget that they can't steal without an accomplice, which are obviously our brothers from the same country, fellow Nigerians who are greedy are the reason for our sufferings.

[Out of mind]

Having natural resources does not make  country rich, what create wealth is having the knowledge and political will to convert harness those resources and convert them to wealth. This problem is not peculiar to Nigeria or Africa, so many countries and continents have their share of it. From Afghanistan to Congo, Niger, Ivory Coast to North America, there are always those countries that have abundance of resources but lacks the political will to convert them to wealth. We should move from the era of blaming the West and imperialist for the problem because any country that is able to fix their leadership can make headway like China did.

Of course, it is true that it is not possible to become rich only by having natural resources, if a country cannot utilize those natural resources. If the government of our country does not urge to convert these natural resources into wealth, then they will never improve the economic position of a country. If a country has to improve economically, then it is possible to improve financially by utilizing the natural resources of that country and later exporting them. At present, due to lack of political will in many countries of the world, such natural resources remain within the country but they are not converted into wealth. Yes, if any country wants to use their natural resources to work for the development of their country, then it will be possible. As we have seen in China, they are known as one of the most developed countries in the world today by using their natural resources. Therefore, if Nigeria does not take steps to convert its natural resources into wealth, then it is certainly possible to improve the country economically.

[Bright0515]

Nigeria has everything that is required to stabilize the economy but one thing that a lot of people don't actually know that the government does not really want the economy to be fixed because they benefit from the system. Every single resource that they get from crude oil and other natural resources are monopolized, this system has been going on for a long time and it is almost impossible for this corrupt practices to stop in the country. Nigeria isn't a poor country, the resources are just being mismanaged by corrupt leaders.

[programmer3666]

Nigeria has everything that is required to stabilize the economy but one thing that a lot of people don't actually know that the government does not really want the economy to be fixed because they benefit from the system. Every single resource that they get from crude oil and other natural resources are monopolized, this system has been going on for a long time and it is almost impossible for this corrupt practices to stop in the country. Nigeria isn't a poor country, the resources are just being mismanaged by corrupt leaders.

I don't buy the statement of a lot of people not knowing that the government doesn't want the economy to be fixed! That's a false statement because even a baby who is just 6 months old k ows for a fact that the Nigeria politicians and elite businessmen don't hope for a better economy for the nation because it will affect their wealth accumulation. And I don't really fault them because we as citizens keep on voting set of clueless people to lead us base on tribalism or religious beliefs, so a chance to get a better economy will always evade us as long as we keep circulating same wicked leaders.

[Btcdeybodi]

All of these problems emanated from bad leaders because they are the architect of corruption. The worst part of it is that corruption starts from the grassroots who are even supposed to be concerned about their standards of living. I learnt some time ago that an oil company from my place gave our community leaders a huge amount of money to develop the area where crude oil was gotten from but what our leaders did was to divert that money to their personal accounts and fabricated a picture showing fine structures and sent to the companies heads abroad that they have finished the projects. This is how humans are, they're extremely greedy and what baffles me most is that these people earn outrageous amounts from their salaries but yet they steal the one allocated for the development of same environment where these crude activities are taking place. People needs to change their mindsets because most of the time we push blame on rich people but give a poor man an opportunity to be at the top and see him doing worst than the rich men.

[Cheema02]

A few years ago, when oil was available in some countries, its price was quite high in those countries and even today its price is quite high, but your country is still poor, there may be many reasons for this. This oil is not bought in large quantities from your country, which is why you are poor, or your government keeps all that money and you do not have access to it, which is why you are poor. The oil business is a very strong business all over the world, so the UAE and other countries that sell oil are quite rich. Although it is unlikely that you own it, which is quite surprising because many countries earn their income from oil and they have also become very fast and prosperous from it.

Natural resources are the future and a bright future for many countries, because through them, countries create wealth and strong economies. But having natural resources does not mean that the country must be rich, because it all depends on the management of that country. If the government has to audit how much income it generates through natural resources and where it invests and controls the flow of cash strictly, then it's called well management.

We have a lot of examples of many countries that are enriched with natural resources like gold, natural gas, and oil, but they are still listed as poor countries. Almost all African countries are the poorest countries but they have trillion-dollar resources. So what's the reason behind their poverty? Simply, the corrupt leaders who prefer their personal benefits instead of the nation. On the other hand, countries, like those in the Gulf, especially the UAE, are the richest countries, and they have excessive oil with good management

[Yeesha]

Having natural resources does not make  country rich, what create wealth is having the knowledge and political will to convert harness those resources and convert them to wealth. This problem is not peculiar to Nigeria or Africa, so many countries and continents have their share of it. From Afghanistan to Congo, Niger, Ivory Coast to North America, there are always those countries that have abundance of resources but lacks the political will to convert them to wealth. We should move from the era of blaming the West and imperialist for the problem because any country that is able to fix their leadership can make headway like China did.

Of course, it is true that it is not possible to become rich only by having natural resources, if a country cannot utilize those natural resources. If the government of our country does not urge to convert these natural resources into wealth, then they will never improve the economic position of a country. If a country has to improve economically, then it is possible to improve financially by utilizing the natural resources of that country and later exporting them. At present, due to lack of political will in many countries of the world, such natural resources remain within the country but they are not converted into wealth. Yes, if any country wants to use their natural resources to work for the development of their country, then it will be possible. As we have seen in China, they are known as one of the most devdeloped countries in the world today by using their natural resources. Therefore, if Nigeria does not take steps to convert its natural resources into wealth, then it is certainly possible to improve the country economically.

Having natural resources is actually not the main thing, the main problem is utilisation of those natural resources and also making productive use of them. The growth, development and improvement of the economy lies in appropriate management and utilisation of the available resources. China also face the same problems before, but with their cooperation and consistency they were able to stand steal at the end of the day. But that was only after putting much efforts, so Nigeria government can also work hard towards achieving great things in order to reduce the hardship that we're experiencing now.

[Y3shot]

Have you voted or supported the leader thst is good for the job? Because where citizens get it wrong they only support leaders thst is of the same ethnicity and religion with them, and they forget to look at competent and forget thst if a bad leader is being voted in it doesn't have anything to do with tribe, every tribe will be affected with bad governance.  Politicians, bad leaders are not only the problem but citizens also contribute to why there is still bad leadership because some people have not seen governance and leadership beyong same tribe and religion.

[Cookdata]

Nigeria has everything that is required to stabilize the economy but one thing that a lot of people don't actually know that the government does not really want the economy to be fixed because they benefit from the system. Every single resource that they get from crude oil and other natural resources are monopolized, this system has been going on for a long time and it is almost impossible for this corrupt practices to stop in the country. Nigeria isn't a poor country, the resources are just being mismanaged by corrupt leaders.

You are right, there are too many corrupt practices, but let's be fair with the government and give them their share of honesty. You can Google my fact though, the nigerial doesn't have the resources to fix the economy, at least not in the next 5 years. We have wasted a lot of opportunities right from when oil market was very expensive and we were mass producing barrels then, but now production rate has reduced, and the price of crude oil is not even stable now because of instability in the Middle East.

What we are getting as oil revenue from barrels, the revenue generated is not coming to the government, there is a fair agreed share that is going to some company, the oil is agreed loans from the government, and this is not going to be settled until the next 5 years. So we are producing while settling the loans, we don't have much left from oil production.

I don't know what you mean by monopolized but I will love to hear your input because the last I check, the FAAC allocations has change, the federal government has increased each state allocation, so that is state problem and corruption.

[Odogwu-Blockchain]

Have you voted or supported the leader thst is good for the job? Because where citizens get it wrong they only support leaders thst is of the same ethnicity and religion with them, and they forget to look at competent and forget thst if a bad leader is being voted in it doesn't have anything to do with tribe, every tribe will be affected with bad governance.  Politicians, bad leaders are not only the problem but citizens also contribute to why there is still bad leadership because some people have not seen governance and leadership beyong same tribe and religion.

There is nothing anyone can do, point out any candidate who is a good leader contesting for presidency or governorship, if there is, then such person will certainly change behavior and character immediately he enters the seat. The cabinet members too will also influence his decision and makes it worse. Infact, if contract is been awarded to his cabinet members, these guys will embezzle the funds and all the blame will be on the president not the cabinet members.

No person on the seat is liable to stay loyal, no one.

[iDEEMEE]

Shell, Chevron, and other companies engaged in oil production in Nigeria have oil. The state itself also has a share, but these revenues are apparently spent on something else, not on improving the population’s living conditions. Why is that? Well, you’ll need to ask your government.

I think the government are not to blame for this but the community leaders and chiefs. We are our own problem, everybody wants their share of national cake. There is no honest, selfless man because believe it or not the government are not gods, they are still mere citizens who got into power and decide to carry out their selfish interest at the cost of the nation, the people and their rights.

[Rgram]

There is nothing anyone can do, point out any candidate who is a good leader contesting for presidency or governorship, if there is, then such person will certainly change behavior and character immediately he enters the seat. The cabinet members too will also influence his decision and makes it worse. Infact, if contract is been awarded to his cabinet members, these guys will embezzle the funds and all the blame will be on the president not the cabinet members.

No person on the seat is liable to stay loyal, no one.

The race for the presidency in Nigeria has being about turns(time), game and power. When these mindsets is embedded in the minds of those who wish to lead the country to the next stage, you can always expected leaders that wouldn’t have a clear vision for the country but those that would come in, being sure not to step on toes while doing the most they can do to embezzle the country resources. Oil wouldn’t make the country rich, it’s what we are able to do with it.

[aoluain]

 letting foreign investors take advantage of and exploit their resources, are also one of the reasons why a country stay poor.

This is essentially the issue.

Look at this link > https://nigerianqueries.com/major-oil-and-gas-companies-in-nigeria/#google_vignette

This foreign oil and gas companies in Nigeria are more than 10 in number. Some include; Shell, Chevron, ExxonMobil, Agip, Nexen Inc, Total and Texaco. Since these Multi-national foreign oil and gas companies are operating in Nigeria and have to obey the laws of the country, they all added Nigeria to their names.

Those foreign companies are sucking the resources out of the country and Nigeria is getting
very little in return. The biggest beneficiaries of this action are the banking oligarks based in
London, Europe and Wall Street and all they have to do is loan the money to develop the oil
extraction.

If these parasites cannot do it "peacefully" like in Nigeria they are quite willing to put countries
to war against each other like Ukraine and Russia, they will loan money to fight the war, loan
money to rebuild the destruction and the collateral is the countries resources.

To under stand the system more listen to this interview.

https://youtu.be/j6iMXV1ONlk?si=NAmJPCloQVMRHH8X

[Stormisover]

We as Nigerians we have crude oil but our country is still poor and going backward on a daily. And the question is, is it suppose to be so as an oil producing country, states, LGA's and communities?

When you travel and log in to our local communities in the villages as SPDC Shell host communities that has now been taking over by Renaissance, you see that there's nothing to write home about.

The local content agreement has it that they will bring development to the Shell host communities, things like,
1. Electricity.
2. Good roads.
3. Scholarships.
4. Borehole's water.
5. Youths empowerments.
6. Employment in their companies.
7. Monthly stipends for old men/women
etc

But none of these is being carried out.

Truely by reality in an oil producing country or state everybody needs not to suffer, there should be agreement between government and this company and Also memorandum of understanding between company and Host community, but However when this demand are fulfilled, the community caretakers, CDC, chairman and chiefs that soposed to do the right thing, out of greediness will do the opposite, making it look like this company are not doing well. This is the reality of oil producing countries that faces poverty. Corruption, greediness and wickedness amongst representatives is what makes the masses suffer when they have all what it takes to enjoy their natural resources.

Things are not really going the way it should, so many things are wrong and it is on the part of our representative to do the needful, most of the host communities are not getting up to half of what this companies proposed for them, and it is not good, it is so disheartening to know that you are from an oil and gas host communities and you are not enjoying the dividend of it, what is meant for the general public is being shared among few people only for them to give stories that are not true. How badly that the company exploration has an effect on the environment which have affected  farming, what we need is good representatives or leaders for the benefits of everyone.

[passwordnow]

Nigeria has everything that is required to stabilize the economy but one thing that a lot of people don't actually know that the government does not really want the economy to be fixed because they benefit from the system. Every single resource that they get from crude oil and other natural resources are monopolized, this system has been going on for a long time and it is almost impossible for this corrupt practices to stop in the country. Nigeria isn't a poor country, the resources are just being mismanaged by corrupt leaders.

I know that Nigeria and other African countries are very rich in natural resources. The poor handling and distribution of it makes people suffer from the poverty and it all leads to the corruption that's from the leaders. Those who's got access to it are only benefiting from this wealth from your nature. If people will start to voice out from it and I think there will be a great change and leaders who have a clear distinction of what they want to happen and that's to make the country and its people prosper. I'll take the example of Burkina Faso, that's the kind of leadership right now that every country needs.