The Nigerian Extractive Economy and Development

Dados Bibliográficos

ID12948503
AutoresMurtala Chindo (Ibrahim Badamasi Babangida University, autor correspondente), Ali Ibrahim Naibbi (0000-0002-7894-6969, University of Portsmouth), Abubakar Abdullahi (Federal University Kashere)
Ano2014
Volume8
Fascículo2
Páginas71-87
Data de publicação2014-11-30
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoHUMAN GEOGRAPHIES – Journal of Studies and Research in Human Geography (JOURNAL)
Identificadores do periódicoISSN: 1843-6587 • E-ISSN: 2067-2284
EditoraUniversity of Bucharest (Bucharest University Press) (PUBLISHER)
DOI10.5719/hgeo.2014.82.72
OpenAlexW2144840502
IdiomaEN
Citações recebidas1
Referências citadas13

Nigeria is a resource-rich country and has become extraordinarily dependent on the oil sector, which accounts for over 90 per cent of exports and government revenues, and contributes up to one third of the GDP (Gross Domestic Product). Evidences have shown that Nigeria’s resource wealth has not translated into meaningful development. For example, while other countries realised positive outcomes from mineral-based developments, Nigeria’s poor state of development is assumed to be a product of the pathologies that are collectively known as the ‘resource curse’. This paper examines various literatures about the resource curse thesis by focusing on the experience of Nigeria, Africa’s largest oil and gas producer and exporting country. The result shows that corruption, government complacency, the Dutch disease, lack of public accountability, neglect of education and excessive external debt/borrowing overhang are all hampering the development goals of the country. Whilst the measurements that support this conclusion were made at the national level, this paper opined and called for the Nigerian resource curse measurements to be looked at from the local scale (communities), where the resource economy hits the ground

Accountability · Business · Curse · Development economics · Dutch disease · Economic growth · Economics · Economy · Government (linguistics · Government revenue · Gross domestic product · Language change · Natural resource · Political science · Product (mathematics · Resource (disambiguation · Resource curse · Revenue · Mining and Resource Management · Natural Resources and Economic Development · Oil, Gas, and Environmental Issues · Finance