| Popis: |
The understanding of the political economy of a nation is fundamental in order to effectively handle the political and economic situations of the environment in which the nation operates. Nigeria, the twelfth largest producer of oil and gas in the world currently had its political economy around the oil, after her complete deviation from an agro-dependent economy in the early 1970s. The switch from agribusiness to oil seems to be a better channel of augmenting Nigeria’s income, but the joy of this new innovation was shortened due to various community crises and environment issues. This chapter seeks to access the harm of over dependency on oil in Nigeria, the social-political and economic consequences of the oil boom in Nigeria since its discovery. The study showed that the political fighters continue to control the people and the political procedures to achieve their selfish plan. On the other hand, the public remained helpless and wallow in abject poverty. The Nigerian state that could have intervened to provide remedy for the oil-related problem is culpable of high-level corruption, awful administration, and political instability. |
