As the Niger Delta boils and as Nigeria looks towards a bleak future with diminished oil revenues, the oil corporations operating in Nigeria continue to garner obscene profits. This happens because the corporations are not paying for environmental costs of their operations and because ecological debts go unattended to. Local communities have shouldered the burdens while the corporations laugh all the way to the banks secured by their opaque Joint Venture agreements.
The trend of profits made by oil companies over the past couple of years are very telling. These companies reap profits in the face of whatever woes the world is confronted with.
By Ugochukwu Chimeziri
Only a comprehensive review of the 1999 constitution and enacting of laws
to regulate man’s activity on the environment can stave off an imminent
environmental chaos in the country.
But Questions on Compensation for Displaced, “Upstream” Impacts, and
Gas Flaring Remain Unanswered
Civil society activists in Nigeria are welcoming the World Bank’s acknowledgement of a series of damaging mistakes during the building of the World Bank-financed West African Gas Pipeline (WAGP) running from Nigeria through Benin, Togo, and Ghana. But they also say the report does not go far enough in answering crucial questions.