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.
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 : Niger Delta has had more than 6,000 spills ; 10 times more than Exxon Valdez .