Nigeria: A Snapshot By Jon Dorsett

Although over 70% of Nigeria's estimated 100 million people live on less than $1 per day; despite the Nigerian government being forced to spend 13 times more on debt repayment than on health; and even though the country has had over $55bn stolen from it by past corrupt leaderships, Nigeria does not qualify for debt relief under the current HIPC initiative.

Nigeria's situation is a unique one in regards to its debt history. The foreign debts, of almost $30bn, which now face the most populous country in Africa were build up over the years by past corrupt military dictatorships, and some would argue the Western creditors who took advantage of this situation.

In the 1970's Nigeria's vast oil reserves attracted Western creditors like vultures to a bountiful carcass, and under the dictatorship of Sehehu Shagari the nations wealth and foreign investment were poured into many ill -conceived grandiose projects.

The 1980's saw the world oil price drop dramatically and Shagari took drastic measures deporting over 3 million Africans who had come to Nigeria in search of work during the boom years. Drastic as it was, the action was not enough and Shagari was overthrown in 1983. Coup followed coup with Ibrahim Babangida starting grand-scale economic reform in the 80's. Babangida privatised public services and devalued the country's currency fourfold. However the oil prices dropped further and the country's external debt rose to $20bn.

The early 90's saw another coup with power taken by General Sani Abacha. Abacha abolished all democratic institutions, arrested all military leaders, politicians, intellectuals and pro-democracy leaders who were a threat to him, and shut down many of the country's newspapers. Many Nigerians fled the country; many more were slaughtered for opposing him. One such was Ken Saro-wiwa, novelist, intellectual and human rights activist.

During his time in power Abacha stole more than $4bn from the country. Much of this money, and money other past dictators and their cronies stole, now resides in European, (mainly British), banks. Jubilee 2000 Nigeria are now working on a specific campaign to repatriate this stolen wealth. This is an issue which effects many other indebted countries such as the Philippines, Indonesia, Zaire, Haiti and even extends to the return of stolen wealth by Nazi Germany in WW2. Achieving the political will and steering through the legalities involved in the return of this money will be no mean feat. Many of the families of those who stole from Nigeria still live there and, however indirectly, still hold a lot of power. As the Rt. Hon Dr. Chuba Okadigbo, Senate President of Nigeria puts it, "While over 100 million Nigerians remain desperately poor, those banks in those countries feed very fat on that poverty. This sort of robbing poor Peter to pay rich Paul is to say the least awkward."

Since the atrocities of September 11th, and governments moves to take controls of suspected terrorists bank accounts, there is hope within the Nigerian Jubilee 2000 campaign that this will extend to the accounts of those who have looted their country in the past.

Nigeria now benefits from a democratically elected Government, and under President Obasanjo moves are being taken to kill the internal corruption that exists and improve life for all of Nigeria’s people. But the issues of debt and of Nigeria’s stolen wealth are still crippling the country, and the support of debt campaigners everywhere is still needed to overcome this.