This article is not very constructive. We already know that there is pervasive corruption in Nigeria's public sector.
Regarding foreign aid, I wonder if the UK really provided that aid in an effort to advance human development in Nigeria or, like other Western countries, to advance (or perhaps, maximize) its own national interests.
Countries that want to fight corruption and improve human conditions in Nigeria or other African countries should support grassroots movements for institutional reforms to provide governance systems that guarantee the rule of law.lRegarding foreign aid, I wonder if the UK really provided that aid in an effort to advance human development in Nigeria or, like other Western countries, to advance (or perhaps, maximize) its own national interests.
On Sat, Aug 10, 2013 at 4:19 PM, Roy <konstrukt@gmail.com> wrote:
--It is estimated that since 1960, about $380 billion (£245 billion) of government money has been stolen — almost the total sum Nigeria has received in foreign aid.
And that even when successive governments attempt to recover the stolen money, much of this is looted again.
![President Sani Abacha, a military dictator who ruled in the Nineties, had accrued a staggering $4¿billion (£2.58¿billion) fortune by the time he died]()
President Sani Abacha, a military dictator who ruled in the Nineties, had accrued a staggering $4billion (£2.58billion) fortune by the time he died
In essence, 80 per cent of the country's substantial oil revenues go to the government, which disburses cash to individual governors and hundreds of their cronies, so effectively these huge sums remain in the hands of a mere 1 per cent of the Nigerian population.
--
Thanks,
Roy
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JOHN MUKUM MBAKU, ESQ.
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Nonresident Senior Fellow, The Brookings Institution
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J.D. (Law), Ph.D. (Economics)
Graduate Certificate in Environmental and Natural Resources Law
Nonresident Senior Fellow, The Brookings Institution
Attorney & Counselor at Law (Licensed in Utah)
Presidential Distinguished Professor of Economics & Willard L. Eccles Professor of Economics and John S. Hinckley Fellow
Department of Economics
Weber State University
3807 University Circle
Ogden, UT 84408-3807, USA
(801) 626-7442 Phone
(801) 626-7423 Fax
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