International records / OpenAlex research

The Nigerian Extractive Economy and Development

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 litera…