Economy
Bayelsa State has one of the largest crude oil and natural gas deposits in Nigeria. As a result, petroleum production is extensive in the state. However, the majority of Bayelsans live in poverty. They are mainly rural dwellers due to its peculiar terrain and lack of adequate transportation, health, education or other infrastructure as a result of decades of neglect by the central governments, state governments, and petroleum prospecting companies. This has been a large problem in the state since its creation and successive state governments have not been able to address and repair the issue. The state, as a result, has an almost non-existent commerce. Successive state governments have, however, embarked on various industrial projects (even venturing into the oil and gas sector), and "poverty-alleviation" programs to reverse this situation, however some argue that there is nothing on ground to show for huge sums of money spent for development by successive and present state governments.
The local population engage in fishing on a subsistence and commercial level. The Bayelsa State government is otherwise the main employer of labour in the state.
Read more about this topic: Bayelsa State
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)