Why oil-rich Nigeria has trouble exploiting its wealth | DW News

Nigeria and its oil wealth is a complicated story. The west African nation is the continent's biggest oil producer, and it ranks eleventh in global terms.But it has a hard time attracting foreign investment - prompting President Muhammadu Buhari to free Nigeria's state-owned oil firm from state control earlier this month.Oil accounts for 90 percent of Nigeria's exports but it's had problems exploiting that wealth of crude - producing well under its daily OPEC quota.It's estimated that about a tenth of the oil pumped ends up stolen: In the first quarter of 2022 that was crude worth a billion dollars. Where it ends up is a dirty business. Illegal refineries mark Nigeria's oil-rich Niger Delta. Dirty and dangerous: Back in April, an refinery exploded, killing more than a hundred people.
The government is cracking down on illegal refineries. But when DW correspondent Flourish Chukwurah visited the Niger Delta, she found that the problem is far from over.

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#Nigeria #Oil #OPEC

[pinview]

Oil, instead of creating wealth for Nigeria and Nigerians, has been fermenting corruption, causing poverty and environmental disasters for decades. Truly sad and yet no end in sight.

[aijustice]

Very shameful what governments of Nigeria 🇳🇬 have done to Nigerians 🇳🇬

[djkizzo]

The problem is that in Nigeria everyone thinks they are right..

[mtam]

The problems started from the government, if they are corrupt, some people will do whatever necessary for them to acquire money illegally. Oil brings wealth, that wealth should be distributed wisely, honestly and fairly. Doing the right things to people of the country could discourage any illegal activities that's currently taking place in Nigeria.

[davidferguson]

Hey DW explain to us seriously: Why is it that a Middle East oil producing country is rich but an African oil producing country is poor? And why is an oil refinery illegal? That doesn't even make sense? That's like hoping to sell milk without milking the cow. Evidently they have the knowledge to set up their own refinery so who is standing in the way of their progress? You guys need to find out and tell the full story. As for Nigeria, I don''t know if they're a democracy but if they are, the whole government should be scrapped and thrown in the dump. They are not about progress. Vote out every last one of them. If they're so dumb, they're not even qualified to lead a cow

[nafisaadam]

This man makes sense; the corruption in the oil sector is alarming. A country of two hundred million people, the highest exporter of quality crude, can't have functioning refineries...

[Olawale_]

The commentator said it just right. You and the Nigerian government call it illegal refinery, they call it artisan refinery. Oil issue in Nigeria is a more complex and complicated reality, undertone not only by corruption, but ethic fundamentalism and unjustified interference of the West. Now imagine how useful this great nation would have been in this time, especially in circumventing Russian oil for Europe.
Tomorrow should be our reason for today's behaviour.

[Mbutu]

A normal country would educate those "illegal refinery" workers and help them set up regular businesses with safety standards.
But this is Africa. The continent where peasents are not allowed to earn a dime if the chief doesn't get percentage.

[CoreyANeal]

Why not hire them for actual Oil Refineries? Would put them at less risk and help the economy.

[momodoudem]

Give them proper training and monitor them to establish our own refinery companies

[CHMichael]

The entire country could have free health care, education guaranteed economic growth like Dubai.
- if it wasn't for corruption and mismanagement.
Go to Sweden and ask them for help. This would be actually helpful.
Sovereign wealth fund.

[infotv]

Oil is discussed everywhere and his price is going up to up poor people can't use this nowadays

[IK_MK]

Nigeria would be a potent world power if it could fix it's problems

[bruceparker]

So Nigeria can't build legal refineries to create jobs lol

[lionelmessileroi]

The main source of income in Nigeria that the government relies on is oil

[manscall]

The evil that exists inside and outside, are responsible for all. This is the reason Nigerians should not compromise their future with any corrupt politicians, government officials or any stakeholders, from now on, we should hold them accountable for running people's lives

[annehersey]

Nigeria has the possibility of becoming a very high income country on a continent desperately in need of change. Corruption must be stopped and efforts tripled! I feel for the poor who are constantly exploited.

[EgbertQuatre-fg]

Why not invest in these young men and help them to improve their refineries to make it safe. Then it can be legalised. This is a win-win solution. These guys will make money, which will help to eradicate poverty, and the government can collect tax from the business.

[laraoyebisi]

We should be proud of the Kpokpo fires .They should be encouraged.We 're refining locally.

[ibibo]

Nigeria stole the assets of families and leased them to corrupt Nigerians from specific families and international business. Saboutage is bound to happen as long as ancestral owners and communities on which Oil is assets are found are forcefully evicted and discomfited without the accuring financial compensation.