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  • Essay / The pros and cons of foreign aid - 1082

    BBC reports said: “The National Bureau of Statistics said 60.9% of Nigerians in 2010 lived in “absolute poverty” – this figure was up from 54.7% in 2004.” BBC also claims that the trend of poverty will increase. But if Nigeria is economically thriving, why does it continue to receive aid? Michael Burleigh wrote an article with the bold title "A Country So Corrupt It's Better to Burn Our Aid Money." He says that "Since gaining independence in 1960, Nigeria has received $400 billion (£257 billion) in aid – six times what the United States invested in rebuilding the country." the whole of Western Europe after the Second World War. So what do they do with the profits from the oil and the aid that the government gives to Nigeria? They use all the foreign aid money to help oil and gas companies expand and give the remaining money to build small stores, schools and houses with poor infrastructure. Nigeria abuses government money by using it to expand its businesses and give more money to wealthy state leaders, and giving little or nothing to the people who live.