Monday, June 1, 2009

10 years of democracy = $162 billion in Nigeria

Privately owned Sunday Vanguard Newspaper has reported that 10 years of successive  democratic rule has brought Nigeria revenue of 30 trillion naira which is equivalent to about $162 billion. Most of this revenue generated has unfortunately not been used to improve the living conditions of Nigerians but has apparently been only enough to pay salaries and allowances of civil and public servants.

But we all know what's really up don't we. The reasons why most Nigerians haven't seen this $162 billion make any improvements in their lives is because most of that revenue has been lost to them by the corruption and incompetence of the people in power.

More details on why most Naijas aren't getting a piece of the pie here . A very interesting read!

Related story: Global recession bringing Nigerians back hom

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