Is Oil Helping Or Hurting Nigeria's Economy?

IS OIL HELPING OR HURTING NIGERIA S ECONOMYAJMAL AMANEcon 362AFRICAN DEVELOPMENTIntroductionThe abundance of fossil crude crude in Nigeria should be helping the countries providence but in actuality it is hurting it . Oil in Nigeria has plough a imaging curse in that many of the countries refrain problems cease be closely related to it s embrocate constancy . It is causing a situation of Dutch Disease in which other sectors of economic growth are universe sacrificed in to focus on oil payoff . The unstable governing body has lead to collusion which is increasing the corruption and leading to unseemly economic situations for Nigeria s citizens . Nigeria being a failed state is scaring off external investors and causing bang-up flight due to it s erratic delivery . The presence of oil companies in Nigeria has had a dditional effects on the local economy including loss of property price splashiness , prostitution , and contamination .

The shift from agricultural to oil production has also left hand Nigeria s economy susceptible to volatile international market shifts . all(a) if not most of the countries economic problems from regime to agriculture can be traced back to Nigeria s oil industryWhile oil companies promote themselves as a positive force in Nigeria providing much needed economic development and resources , the reality is that they confide inadequate environmental standards , human rights standards , and public health sta ndards . These oil companies act as a destab! ilizing force , pitting champion community against about other , and working together with the multitude they help cause some of the...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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