Tale of two nations and the impact of oil & corruption on their futures

The first article from WSJ (From Boom to Bust and Back) discusses the recent economic rejuvenation in Azerbaijan assisted by the recent opening of the BP consortium led pipeline that will soon deliver 1 million barrels a day of oil from Baku to the Turkish Mediterranean port of Ceylan. WSJ states that as soon as first cargo is shipped by early next week, Azerbaijan will face a wave of cash. It is expected that by 2010, the country's oil revenue will be twice the country's current gross domestic income. Azerbaijan is expected to grow by 20% this year.Nevertheless, what Azerbaijan will do with its new found wealth may lead it to become the new Norway, a democracy based on the rule of law, or end up just like Nigeria. Under Transparency International, Azerbaijan ranks 137th out of 158 countries in its Corruption Perceptions Index.

The second brilliant article (As Nigeria Tries to Fight Graft, a New Sordid Tale) puts in color the rampant corruption in Nigeria. As reported, one of the corrupt state governors in Nigeria, Mr. Alamieyeseigha, who was charged with money laundering in the UK and released on bail but with his passport detained. Awaiting trial, he mysteriously disappeared from the UK and re-materialized in his state in Nigeria. He credits God with making his mysterious transpiration possible (In reality he fled the UK dressed as a woman).
It is believed that $400 billion in government money, most of it the profits from Nigeria's oil reserves has been stolen or lost to corruption in the past four decades.