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Article: NIGERIA: OIL CONFLICTS HURT NIGER DELTA'S ECONOMY
- Article from:
- Inter Press Service English News Wire
- Article date:
- September 11, 2008
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Sam Olukoya
Inter Press Service English News Wire
09-11-2008
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 billion ...
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