Chad joins the millionaire’s club

Chad joins the millionaire’s club

Oil has begun flowing along a 1000km pipeline linking Chad’s Doba basin with Cameroon’s Karibi terminal. The start-up of Africa’s latest off-producing nation means that one of the world’s poorest countries could be heading for the millionaire’s club. Human rights groups, however, fear that Chad might be a replication of Nigeria where billions of dollars are earned each year through oil revenues, but little or none of it reaches the country’s millions of chronically poor. Chad recently enacted legislation under which 10% of oil generated revenue must be held in an international bank to benefit future generations, and 80% used to boost social programmes such as education, health anti rural development.

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