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The Guardian: LETTER FROM Dr Antony Wyatt

The Guardian: LETTER FROM Dr Antony Wyatt

14 June 2005

Naomi Klein (A noose, not a bracelet, June 10) asks “how about if Africa’s oil wealth was used to save Africa?”. The article repeats the commonly held view that Shell pumps out the oil and exports the profits and Nigeria gets a poor deal. Readers of the Guardian deserve a more honest picture.

Like companies working in the North Sea, Shell works under agreements with the Nigerian government. The bulk of the profits goes to the Nigerian National Petroleum Corporation, effectively a branch of the Nigerian government, which also receives tax revenue on the profits of foreign companies. So the truth is that the majority of the profit from oil already goes into Nigerian hands. The problem is the priorities of the people who control that money.

Dr Antony Wyatt

Sidmouth, Devon

http://www.guardian.co.uk/letters/story/0,,1505802,00.html

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