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 Erlebnispädagogik. Was sie ist und wie sich erlebnispädagogische Konzepte in den Schulunterricht integrieren lassen by Irina Romanova
Cover of the book Kulturmarketing im Bereich des Musikfestivals am Beispiel des Schleswig-Holstein Musik Festivals by Irina Romanova
Cover of the book Über den Wertewandel im Zeitalter des Post-Industrialismus im Bezug auf anthropologische Erklärungsansätze by Irina Romanova
Cover of the book Das 'Andere' als Kategorie der Selbstbestimmung im Denken Jehuda Halevis und Franz Rosenzweigs by Irina Romanova
Cover of the book Erziehungswissenschaft und Kritischer Rationalismus by Irina Romanova
Cover of the book Die Zivilgesellschaft in Großbritannien by Irina Romanova
Cover of the book Rating - Eine kritische Analyse by Irina Romanova
Cover of the book Geographie Sekundarstufe II. Von geodynamischen Prozessen bis Siedlungsgeographie by Irina Romanova
Cover of the book Die Unnachahlichkeit des Koran und der literarische I'dsch?z by Irina Romanova
Cover of the book Implementierung ökonomischer Ansätze in der Sozialen Arbeit: Praxisbeispiele by Irina Romanova
Cover of the book Migration einer Unternehmens-Webseite am Beispiel Joomla! und Contao by Irina Romanova
Cover of the book Controlling im Gaststättengewerbe by Irina Romanova
Cover of the book Krebsforschung. Hyperthermie mit Chemotherapie, Elektrochemotherapie und Strahlentherapie by Irina Romanova
Cover of the book Bearbeitung der Eingangspost der Abteilung Personal (Brief) (Unterweisung Industriekaufmann / -kauffrau) by Irina Romanova
Cover of the book Das politische Leben Carl Schmitts. Opportunismus oder transparenter Sozialisationsprozess? 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