Oil and the politics of extravagant squandering in Africa; implication on infrastructural development
- 1Department of Public Administration, Mai Idris Alooma Polytechnic Geidam, Yobe State, Nigeria
- 2Department of Social Development, Mai Idris Alooma Polytechnic Geidam, Yobe State, Nigeria
Int. Res. J. Social Sci., Volume 10, Issue (1), Pages 8-14, January,14 (2021)
Our position in as presented is that, oil especially during boom fetches its producers huge earning as revenue which is expected to be utilize in the development of infrastructures to improve citizens standard of living. But in Africa, it has instead, created a fund from which corrupt political leaders looted to satisfy personal gratification of senses while infrastructural development remains unattended to. This study examined how fortune from oil led to the politics of extravagant squandering and its implication on the development of infrastructure in Africa. It was conducted using primary and secondary methods. The study found out that oil producing countries are making great fortune from the commodity. It also discovered that wealth made from sales of crude oil has culminated in politics of extravagant squandering on the part of political leaders in oil producing countries. The study also found out that reckless spending of oil money by political leaders has left oil producing countries on the continent with poor state and level of infrastructural development. The study recommended the establishment of independent anti-corruption agency among others as a good measure to controlling extravagant squandering by political leaders of Africa`s oil exporting countries.
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