International records / OpenAlex research

Resource‐led Development: An Illustrative Example from Nigeria

Abstract: Several strategies are open to an economy in its attempt to attain sustainable economic development, depending on its historical background and resource endowment. One such strategy is the resource‐led strategy. Nigeria is very rich in crude oil and has reaped billions of petrodollars. However, the country faces the problem of successfully translating this huge oil wealth into sustainable development. This paper employs the vector error correction technique in examining the long‐run impact of the huge oil wealth accruing to Nigeria on its economic development. Basic indicators such a…