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Riz Khan - Nigeria's Oil - 22 July 08 Part 1

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Published on Jul 23, 2008

Awash in oil, yet its people, for the most part, are destitute. Nigeria discovered "liquid gold" half a century ago and today is the world's eighth largest oil exporter. But the country is plagued by corruption, inefficiency, underdevelopment and an uprising in its Niger Delta -- the area where most of its oil reserves are located. So why, some 600 billion dollars later, are Nigeria's people still among the poorest in the world? Is it the 'resource curse' or something more?

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