In the Nigeria context, a nation with huge oil wealth and abundant human resources, these definitions are apt. Nigeria is the world�s sixth largest producer of oil, earning tens of millions of dollars daily from crude oil export alone. Its large natural resource base should have made the country prosperous and able to meet the basic needs, including health, food, education, and housing, of its population.
Several years after independence, however, Nigeria is far from realizing the Objectives of its independence or the aspirations of its founders. The United Nations Development Program (UNDP) in December 2002 reported that about 70 million Nigerians are living below the poverty level, an increase of 20 million people since 1998. Yet, successive Nigerian constitutions, including the current (1999) Constitution frequently failed to incorporate legally enforceable economic, social and cultural rights, including the rights to food, education, health, housing and work. Furthermore, constitutional provisions prohibiting corruption are weak and largely non-enforceable. The 1999 Constitution does not contain a human right to corruption-free society, and does not provide effective remedies to victims of official corruption.
Many Nigerians regard their country as an African tragedy. With huge mineral wealth, the nation could have become the South Korea of Africa. But decades of thieving military dictatorships have reduced the giant of Africa to a slumbering ant. The discovery of oil and gas in the 1950s led to a booming economy. Oil quickly became the dominant sector of the economy, accounting for more than 90 per cent exports and providing the federal government with 80 per cent of its revenue. Apart from large untapped potentials of solid minerals and agriculture, the tourism sect is being positioned as a great foreign exchange earner for the nation. The Capital Market is one of the most profitable in the world with about 105% Rate of Return (ROI) and market capitalization of about $4 billion. The national economy was until late last year crowded with about 89 banks with over 3,000 branches while the telecommunication~sector is booming.
As money flowed into government treasury, it flowed out into the pockets of soldiers and civilians in high places and their cronies. At the height of the nation�s affluence, a military head of state made the now infamous declaration that money was not Nigeria�s problem, but how to spend it. It was an era of unbridled profligacy. Oil revenues were frittered away on wasteful projects, Abuja, a hugely expensive new capital was carved out of nowhere while bureaucrats draw up ambitious Development Plans, predicated upon false projections of oil output and revenue.
In 1977 under the Olusegun Obasanjo military regime, the country offered to host a cultural jamboree – otherwise known as FESTAC – that brought into Nigeria thousands of black people from all over the world, from super star musicians like Mariam Makeba to little known cultural troops to the country. They were here for several weeks at taxpayers� expense. A brand new village was built to accommodate them, while expensive luxury buses were purchased to ferry the invited guests around Lagos. Nigeria became a net importer of everything, from rice to pins. Suddenly, government officials peddling import licenses became over night millionaires and kickback became a popular lingo.
In spite of the inflow of substantial oil wealth, Nigeria entered the new millennium with real income per capita of around US$260, about the same as it was at independence in 1960, but with a significant foreign debt burden. The drop was more dramatic in the 1980s. In 1980, despite a high population1 income per capita was US$1,029�the fifth highest in Sub-Saharan Africa. By 1990, it had dropped to a sad US$266. Today, well over 70 per cent of Nigeria�s population survive on less than US$1 a day. While leaders – military and civilian – blamed Nigeria�s woes on waning world oil prices, this sharp decline in economic performance was due largely to weird mismanagement and brazen looting of public resources. And since oil prices have since 2005 gone over the roof, selling in the world oil markets for as high as $70 per barrel, the argument of low oil prices has become untenable. And the wheels of corruption roll on.
Corruption has become so endemic that accessing basic government services often requires paying a bribe. Police officers � many armed with automatic rifles spontaneously erect roadblocks to fleece motorists, politicians, too receive and offer.
Jack Blum, of Lobel Norins & Lamont, transparency and corruption experts said:�From independence.. .leaders in Nigeria have either stolen or misappropriated state funds estimated at N400 billion. This amount involved funds received on behalf of the country by key government officials as international assistance, loans from international financial institutions, kick backs to government officials involved in purchasing and special arrangements for currency conversion. The amount includes misappropriated oil revenue emanating from international oil deals between Nigeria and her customers abroad.�
Writing in the London Telegraph, David Blair puts corruption in Nigeria in apt perspective: �Nigeria�s past rulers stole or misused �220 billion. That is as much as all the western aid given to Africa in almost four decades. The looting of Africa�s most populous country amounted to a sum equivalent to 300 years of British aid for the continent… .Gen Sani Abacha stole between �l billion and �3billion. Nigeria�s anti-corruption commission compiled these figures. Nigeria�s rulers have already pocketed the equivalent of six Marshall Plans.