The corruption in Africa may affect us in the States more than one would expcect. What was the cause for oils to reach $140 a barrel in the summer of 2008? Unemployed youth in Nigeria kidnapping oil workers and demanding a ransom, in response to years of not receiving a percentage the benefits of the money that rolls in from oils production. 44% of Nigerians 20-24 are unemployed, and life expectancy and education in the basket of oil production, the Delta, are lower than the national average.
This article also discussed some stats regarding money inflow to Africa and how much has been lost:
From 1970 and 2008- $854 billion dollars has been lost due to illicit financial outflows. This number will only increase because on average now, $148 billion are stolen every year. In addition Forbes most corrupt countries list, 9 of the first 16 are from Africa.
This article will be important to consider for E.Q. as well, as it shows what likely patterns for our country with Obiang as a leader as well.
http://www.modernghana.com/news/311705/1/corruption-in-africa-where-does-the-buck-stop.html
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