The outlook for Nigerian oil
1985–2000: Four Scenarios
Bibliographic Data
| ID | 11905945 |
|---|---|
| Authors | Bright Erakpoweri Okugu (corresponding author) |
| Year | 1986 |
| Volume | 13 |
| Issue | 37 |
| Publication date | 1986-01-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Review of African Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0305-6244 • E-ISSN: 1740-1720 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/03056248608703696 |
| OpenAlex | W2061131733 |
| Language | EN |
| Citations received | 2 |
| References cited | 6 |
Based on some recent forecasts of world oil demand and price in the years up to 2000, this paper looks at the probable demand for OPEC oil, Nigeria's market shares, and its revenues from oil. This is done under four scenarios: continued weak markets, optimistic, OPEC successfully defends ‘its market share’ and total breakdown in current market arrangements. The results point to continued difficulties, especially up to 1990, and probably beyond. This increases the potential for greater social conflict, as tighter austerity measures are introduced. The glut once again highlights the futility of total dependence on oil. Oil which had masked bad economic policies in the past, can no longer be relied upon to play this dubious role. Increased emphasis on agricultural production, and some adjustments in the operation of the Nation's Public Finance are suggested, among other policies, to cope with the transition to a post oil‐boom Nigeria
Austerity · Boom · Economic policy · Economics · Macroeconomics · Market economy · Market share · Monetary economics · Oil boom · Oil price · Political science · Politics · Revenue · Global Energy and Sustainability Research · Market Dynamics and Volatility · Natural Resources and Economic Development · Finance
| Citations per year | 0.14 |
|---|---|
| Citation span | 2012 - 2018 (7) |
| Highly cited | No |