Nigerian Oil Spills Will Not Damage Exxon Stock
Each time I read a new article about Nigeria's oil spills and disasters, it makes me want to scream out loud and declare that enough is enough. Nigeria has some of the worst safety records when it comes to oil spills and leaks. Before activists take cudgels against foreign companies like Exxon Mobil (XOM) and Royal Dutch Shell (RDS.A), one must know what exactly is happening in this oil rich West African nation. 50.4% of Nigerians are Muslims, 48.2% are Christians and the rest follow various animist beliefs and tribal religions.
The Nigerian government follows a secular policy and has inherited its constitution from the British colonial constitution. On the exterior, Nigeria seems like a demographically and religiously diverse nation governed by a responsible and secular government. Unfortunately, the reality is something that is completely different. The northern half is dominated by Muslims and Islamic militants virtually rule the north. They seek to uproot the secular government and establish Sharia law across the country. To support this agenda, the terrorists in the north recruit militants and rogues from various neighboring countries like Niger, Burkina Faso, Algeria and even countries far away in the Middle East, Russia and Eastern Europe.
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