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Article: NIGERIA: OIL CONFLICTS HURT NIGER DELTA'S ECONOMY.
- Article from:
- Interpress Service
- Article date:
- September 11, 2008
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By Sam Olukoya
PORT HARCOURT, Nigeria, Sep. 11, 2008 (IPS/GIN) -- The Niger Delta's once thriving business climate is suffering as armed groups vie to control oil proceeds in the Nigerian region.
Many residents of the Niger Delta communities are angry about not having received a share of the profits taken from their land. They say they have yet to benefit from more than 50 years of oil exploitation. Despite the area's huge oil resources, local communities in the Niger Delta remain some of the poorest in the world.
In its monthly oil report for August 2008, the London-based Center for Global Energy Studies projected that Nigeria will earn $66 ...