propaganda press forum

this forum is dedicated to the issues raised at propaganda press
we will remove any post that does not fit our focus
with that said, post away pilgrims!


propaganda press forum
Start a New Topic 
Author
Comment
Oil For Nothing: Multinational Corporations, Environmental Destruction, Dea

Nigeria, the most populous country in Africa, is also one of the best endowed in terms of natural resources. Yet, it is one of the poorest countries in the world. As is the case with many oil-rich developing countries, oil reserves have proved a mixed blessing for Nigeria. Since 1974, only 14 years after independence, oil production for export has been by far the main source of revenue for the government. Today, oil sales account for more than 40 percent of GDP, 80 percent of the government's budgetary revenue, and more than 95 percent of exports. With an average production of approximately 2 million barrels per day, Nigeria is one of the world's largest oil produc-ers. However, due to a persistent fall in oil prices, Nigeria's external debt has risen to an unprecedented level in the last decade; inflation is rampant, and per capita GNP has fallen to levels comparable to or lower than those estimated in the mid 1960s, when oil exploration began in earnest..




read the rest of this article here:


http://www.essentialaction.org/shell/report/index.html