Nigerian Aunty with di funds tops oprah

[Afroman]

 

Move over, Oprah! Nigerian billionaire unseats TV queen as the richest black woman in the world with $7.3b oil fortune

• Mother-of-four, Folorunsho Alakija, 62, started her career as a secretary in a bank then studied fashion and launched a label but her big break was oil
• In 1993, her company, Famfa Oil, was awarded an oil prospecting license, which later became OML 127, one of Nigeria's most prolific oil blocks
• The company owns a 60 per cent stake in the block, valued at around $7.3 billion, Ventures Africa reports
• According to Forbes, Oprah Winfrey is worth $2.9 billi

 

http://www.dailymail.co.uk/news/article-2449896/Folorunsho-Alakija-tops-chart-Nigerian-billionaire-unseats-Oprah-richest-black-woman-world-7-3b-oil-fortune.html

 

 

 

 

 

 

[stacksbranning]

Nigerian excellence .

[Black.]

While the rest of the Affs in the country starve, I'm not sure if I can give out full ratings

[Vertigo]

Also wherever oil is concerned that money is never clean.

 

That goes for any oil millionaire and billionaire.

[stacksbranning]

That goes for pretty much any millionaire though but it's life. It's not just about oil . From Branson, to cowell all the way o Oprah . In order to be successful it's more than likely your gonna have to step on a few toes on your way up

[stacksbranning]

While the rest of the Affs in the country starve, I'm not sure if I can give out full ratings

. We are not starving . What Is this foolishness

[Eskay Jones]

I think he meant the overall state of an african country is starving whilst you may be from a affluent area im pretty sure theres areas where people have nothing/

[Afroman]

While the rest of the Affs in the country starve, I'm not sure if I can give out full ratings

Like they aint peeps in first world countries struggling or living in porverty.

Its great stuff. considering where she came from. Oil money or not .

[Woodpecker]

why do we reward and respect people who manage to hoard and steal resources or commodities for themselves while their neighbour goes hungry?

[Eskay Jones]

Im not knocking her hustle but Nigeria has enough Oil to turn that country into UAE in a flash yet the country is starving in certain parts.

 

Nigeria has the most valuable of all the african countries combined such a shame

[Black.]

While the rest of the Affs in the country starve, I'm not sure if I can give out full ratings

Like they aint peeps in first world countries struggling or living in porverty.

First world countries have nothing to offer the world.

Niga is a oil rich country but yet only few people benifit. What's that Aff gonna do with all that money at least half of it should be put back into where it came from.

Demon mentality

I dunno maybe my way of thinking is screwed

[Francis Coquelin]

Not impressed.

[Don Crack]

Africa will still get starved of its wealth

 

Where is the Human Consciousness?

[Captain Planet]

http://www.economist.com/blogs/baobab/2013/10/oil-theft-nigeria

 

Oil theft in Nigeria

A murky business

Oct 3rd 2013, 11:54 by G.P. | ABUJA

 

 

THE standard depiction of oil theft in Nigeria shows a young man, knee-deep in a swamp, with a bucket or wooden canoe full of pilfered thick black sludge. But a besuited banker in Geneva or a slick shipping trader in London might provide an equally apt image. A report by Chatham House, a London think-tank, unravels a complex network that arranges the theft of oil worth billions of dollars a year.

 

Oil theft may cost Nigeria, Africa’s second-biggest economy after South Africa’s, as much as $8 billion a year, claims the report. It says an average of 100,000 barrels a day (b/d) were stolen in the first quarter of this year. Politicians, security forces, militants, oil-industry staff, oil traders and members of local communities all profit from “bunkering” of oil, so few have an interest in stopping it. When so many are feeding from the trough, it is doubtful if anyone in Nigeria has the political will to stop it.

 

Profits are laundered abroad in financial hubs, including New York, London, Geneva and Singapore. Money is smuggled in cash via middlemen and deposited in shell companies and tax havens. Bank officials are bribed. Cash is laundered through legitimate businesses. Some of the proceeds—and stolen oil—end up in the Balkans, Brazil, China, Indonesia, Singapore, Thailand, the United States and other parts of west Africa.

 

At the smallest scale, telltale plumes of smoke rise from illegal refineries in the Niger Delta’s labyrinthine creeks. But larger-scale bunkering involves siphoning oil from pipelines on land or under water and loading it onto small barges, from which it is transferred to bigger ships in the Gulf of Guinea that carry the stuff to international refiners who may be unaware it is stolen—though plainly many know it is. The line between legal and illegal oil supplies is easily blurred in a country so rife with corruption. Transactions in Nigeria’s oil industry are infamous for their murkiness.

 

The trade in stolen oil helps other transnational criminal networks to spread across the Gulf of Guinea, creating global links between oil thieves, pirates and traffickers in arms and drugs. The damage caused by thieves also often forces oil companies to shut pipelines down. As a result, Nigeria is producing oil at 400,000 b/d below its capacity of 2.5m b/d. On September 23rd Shell had to close its Trans-Niger pipeline, which should carry 150,000 b/d, because of leaks due to theft, less than a week after it had been reopened.