The vast majority of the money from oil never finds its way into the pockets of the poor, or into public works that would better their lot.Why is Nigeria such a poor country yet it's a oil-rich country?
It depends on your perspective. There are some Nigerians who are rich, billions by USA standards. In that sense the country is not poor, heck it is the 6th largest oil producer in the world.
On the flip side, only few are rich. The money is not as diversely spread out as you have in more developed countries like USA. This is due to poor management of oil money, corruption, unqualified people ruling, influence of external source like corporations etc- the key problem is distribution of the oil-money. The distribution is so bad that terrorist have developed in regions where the oil is mined but the people of the land receive little benefit.Why is Nigeria such a poor country yet it's a oil-rich country?
Same as Mexico.
Corruption.
The vast majority of the money from oil never finds its way into the pockets of the poor, or into public works that would better their lot.
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