Nigeria is one of world 's richest oil states ; people are among poorest in world . Conversely , the average Nigerian has suffered as a result of the country 's oil prosperity . Nigerian agency : $ 300 billion to $ 400 billion in oil profits squandered , stolen . Militant group MEND attacks oil pipelines , demands profits given to Nigerian people . UN : Oil companies have been warned by the United Nations that they must stop paying ransoms for hostages and release them immediately or face sanctions.
Nigeria is one of world 's richest oil states ; people are among poorest in world . Nigerian agency : $ 300 billion to $ 400 billion in oil profits squandered , stolen . Militant group MEND attacks oil pipelines , demands profits given to Nigerian people . UN : Oil companies have been warned by the United Nations that they must stop paying ransoms for hostages and release them immediately or face sanctions.