How many countries in Africa produce oil in substantial amounts? in subsahara Africa i can only think of Nigeria. The tribes in Iran might not be more than Kenya, though its a large country compared to ours with 30 provinces a population of about 90M.
I have a problem with your statement that implies black people cant manage oil proceeds just because Nigeria has issues with it. While i agree a lot has to be done by African people and govts in terms of corruption (in this regard we have a new constitution) i dont agree that we cant manage oil and i wont take that to any bank.

I agree, didnt even look at Angola thanks for the analysis GGK. I still insist we can manage oil and as stated above we are better of with this resource than without.
Looking at Nigeria you will note that their oil was signed off during times when they had military dictatorship rule and they sold their wealth by binding contracts, Angola has been in war for sometime and their poverty is attributed to the war, look at them now after the killing of the rebel leader Savimbi...(details by GGK above).
We are not at civil war, we have a new constitution thats seen to be effective or working and going by todays court proceedings/ruling we have confirmation that it will not a bed of roses for those who intended to eat. With this i have strong believe that we can manage our resources oil, gold, gas etc, yes we can do it even better.

UNAITAS...hahaha...

These are genuine concerns. We may not like to face it but it may boil down to what you have said here

We may need to find ways of appeasing locals in the areas with these resources-jobs, roads, social amenities etc or we may have a replica of what happened in Niger Delta in Nigeria.

The other scary thing is the new katiba. People, even very educated fellows, have very many misconceptions concerning devolution. Now people thinks that such mineral wealth will belong to the county!

Did you look at Ghana? Right next to Nigeria!

www.bloomberg.com/news/2...s-oil-output-starts.html

www.bloomberg.com/news/2...er-on-oil-output-1-.html

ION, simba is at 27 and safari at 4.25.
Im off to the broker

To better understand the Nigeria oil story, you need to consider that its oil was discovered in the 1950s.

If the same happened in Kenya pre independence, when there were very few educated people, the following would have happened;

1. The colonial masters would have entrenched their interests using BP by striking 'sweetheart' deals to last a life time.
2. The barely educated thieving classes that took away all the prime land at independence would have connived with the beneficiary foreign companies to create a kleptocracy supported by personal militias financed with proceeds of corruption.
3. The sons and daughters of these thieving masses would have joined Dangote in the league of the wealthiest Africans.
4. Kenya would be known as the land of 1000 coups and whispered democracy.
5. I would be writing this using blood from the tip of a bayonet as I would have joined regional militia groups.
6. None of you would be reading this as we would all be in the frontline protecting our very own Al haji's

Ghana and in part Angola offer salutary lessons on management of oil wealth. We are lucky that these resources are only being unearthed after years of trying to build institutions. Our story may not be as smooth as that of Norway, but it should be an improvement on what Ghana has done. Yes corruption will be there but you can bet all you cows that within the next 5 years, we will have some of the biggest fish in this country cooling their heels in prison for corruption. Once the public prosecutor gets a taste of blood, he will be like a wolf and will look for more kills.

Yap,27 was my TP level for simba & 4.30 for safari!