Oil boom in Nigeria and its consequences for the country s economic development

Nonfiction, Reference & Language, Study Aids, ESL, Foreign Languages
Cover of the book Oil boom in Nigeria and its consequences for the country s economic development by Irina Romanova, GRIN Verlag
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Irina Romanova ISBN: 9783638605847
Publisher: GRIN Verlag Publication: February 3, 2007
Imprint: GRIN Verlag Language: English
Author: Irina Romanova
ISBN: 9783638605847
Publisher: GRIN Verlag
Publication: February 3, 2007
Imprint: GRIN Verlag
Language: English

Seminar paper from the year 2007 in the subject English Language and Literature Studies - Culture and Applied Geography, grade: 1,3, University of Paderborn, course: Commonwealth of Nations, 34 entries in the bibliography, language: English, abstract: The energy sector plays a vital role in Nigeria's economy since the country is endowed with abundant energy resources, such as oil, gas, coal and water. Oil was discovered in 1958 and has since the early 1970s dominated the economy. Today, Nigeria is the largest oil producer in sub-Saharan Africa and since 1971 a member of OPEC, with an estimated production volume of 2.413 million barrel/day (2005). This makes it the world's sixth largest producer. Since 1960, Nigeria has reaped an estimated US$600 billion in oil revenue. At the same time, Nigeria has the third highest number of poor people in the world, after China and India. With a per capita income of about US$ 350, around 70 million Nigerians are living on less than one US Dollar a day. Low human development level, social conflicts and enviromental degradation are just a few problems which chararterize the current state of development in Nigeria. The question to be asked is why a country such as Nigeria which is highly endowded with one of the most valuable resources has faired disproportionally badly in economic and social terms? Why has so little been done in terms of human development? Besides, the Niger Delta region - the main producer of oil in Nigeria - though being the engine of Nigeria's economy, also presents a paradox, because the vast oil revenues have barely touched the delta's own pervasive local poverty. Vast natural resource reserves have many implications. They may affect socio-economic and political developments of the country as well as have considerable enviromental implications. While natural resource reserves (oil and other mineral resources) constitute a potential blessing for the country that owns them, they turn out to be a curse in most cases.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Seminar paper from the year 2007 in the subject English Language and Literature Studies - Culture and Applied Geography, grade: 1,3, University of Paderborn, course: Commonwealth of Nations, 34 entries in the bibliography, language: English, abstract: The energy sector plays a vital role in Nigeria's economy since the country is endowed with abundant energy resources, such as oil, gas, coal and water. Oil was discovered in 1958 and has since the early 1970s dominated the economy. Today, Nigeria is the largest oil producer in sub-Saharan Africa and since 1971 a member of OPEC, with an estimated production volume of 2.413 million barrel/day (2005). This makes it the world's sixth largest producer. Since 1960, Nigeria has reaped an estimated US$600 billion in oil revenue. At the same time, Nigeria has the third highest number of poor people in the world, after China and India. With a per capita income of about US$ 350, around 70 million Nigerians are living on less than one US Dollar a day. Low human development level, social conflicts and enviromental degradation are just a few problems which chararterize the current state of development in Nigeria. The question to be asked is why a country such as Nigeria which is highly endowded with one of the most valuable resources has faired disproportionally badly in economic and social terms? Why has so little been done in terms of human development? Besides, the Niger Delta region - the main producer of oil in Nigeria - though being the engine of Nigeria's economy, also presents a paradox, because the vast oil revenues have barely touched the delta's own pervasive local poverty. Vast natural resource reserves have many implications. They may affect socio-economic and political developments of the country as well as have considerable enviromental implications. While natural resource reserves (oil and other mineral resources) constitute a potential blessing for the country that owns them, they turn out to be a curse in most cases.

More books from GRIN Verlag

Cover of the book Analyse Helmut Plessners 'Die verspätete Nation' by Irina Romanova
Cover of the book Wasser ist kostbar (3. Klasse Grundschule) by Irina Romanova
Cover of the book Franchising als zukunftsgerichtete Unternehmens- und Vertriebsstrategie im Tourismus by Irina Romanova
Cover of the book Birgt ein Leitbild Chancen? by Irina Romanova
Cover of the book Der Hamburg-Wechsler-Intelligenztest für Kinder by Irina Romanova
Cover of the book Zwischen Vielfalt und Vervielfältigung - Die UNESCO im Kampf um die Kulturen by Irina Romanova
Cover of the book Bulgarien - Parteienlandschaft und Parlamentswahlen zwischen 1989 und 2004 by Irina Romanova
Cover of the book Kommunistisches Manifest und Aufstieg des Sozialismus in Asien by Irina Romanova
Cover of the book Riots, rowdies and rock'n'roll: The reception of American popular culture in West Germany between 1956-1959 by Irina Romanova
Cover of the book Japan in der Liquiditätsfalle - eine selbstverstärkende Krise by Irina Romanova
Cover of the book Learner Autonomy in the Classroom. How to Create a Positive Learning Atmosphere by Irina Romanova
Cover of the book Cesare Ripas 'Iconologia' - Einblick in Aufbau, Kriterien und Hintergründe by Irina Romanova
Cover of the book Target Costing als Instrument zur Verfahrens- und Ablaufrationalisierung by Irina Romanova
Cover of the book Basel III. Erhöhung der Eigenmittelanforderungen by Irina Romanova
Cover of the book Internationale Rechnungslegung (IFRS / US-GAAP): Teil 2 - Anlage- und Umlaufvermögen nach US-GAAP by Irina Romanova
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy