Nigeria, Oil, Corruption

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"The world bank reports that Nigeria lost 300 billion dollars over the last few decades due to corruption."

"I would not disagree with that."

This is from an interview with former Nigerian president Olusegun Obasanjo.

Nigerian corruption is some of the most extreme in the entire world. Governors of states in Nigeria, especially those in the oil rich Niger River Delta, have been know to take hundreds of millions, in some cases billions of dollars in bribes. While we know bribery and corruption to be inherently wrong, we don't often see how it is actually destructive to nations and their economies. In the case of Nigeria it is clear.

The entire political system is based on bribery. Officials are elected either through dirty campaigns or outright election-rigging. Laws are written by the highest bidder. Public works projects are prioritized by their graft-potential. Contracts are doled out to multinational corporations for hundreds of millions of dollars. In the end, none of this money ever reaches the people.

Corruption becomes difficult to combat when it is the jobs of those who are corrupt to deal with corruption. How can the citizens have a voice in fighting bribery when their representatives are being bought? How can roads and schools and hospitals be built efficiently and effectively when the funds allocated to such projects end up in the pockets of governors?

Also, how does Nigeria attract foreign investment when investors know that part of their bottom line will be lost paying kickbacks? This creates a general sense of hopelessness for the Nigerian economy. It is being strangled by corrupt government officials and there is no end in sight.

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