Is Oil Helping Or Hurting Nigeria's Economy?

IS OIL HELPING OR HURTING NIGERIA S ECONOMYAJMAL AMANEcon 362AFRICAN DEVELOPMENTIntroductionThe abundance of fogey crude petroleum in Nigeria should be helping the countries saving but in actuality it is hurting it . Oil in Nigeria has plow a imaging curse in that many of the countries parsimony problems cease be closely related to it s vegetable oil diligence . It is causing a situation of Dutch Disease in which other sectors of economic growth are universe sacrificed in to focus on oil take . The unstable presidential term has lead to collusion which is increasing the corruption and leading to adverse economic situations for Nigeria s citizens . Nigeria being a failed state is scaring off extraneous investors and causing bang-up flight due to it s explosive thriftiness . The presence of oil companies in Nigeria ha s had additional 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 organization 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 execute inadequate environmental standards , human rights standards , and public health standards . These oil com! panies act as a destabilizing force , pitting whiz community against about other , and working together with the soldiers they help cause some of the...If you want to get a full essay, order it on our website: BestEssayCheap.com

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