Those days when I was in Primary School, I learnt about mineral resources in this country Nigeria, like Tin and Columbite in Jos, Limestone, Gold in Ilesha, Coals in Enugu, etc, not to mentioned the not too long discovered Bitumen in Ondo State during the reign of Babangida.

I also learnt about Cash or Exports crops like Cocoa in the West, Oil Palm and Rubber Plantation in the East, Groundnut Pyramid of Northern Nigeria, etc. All these crops bring in revenue to the country.

Now, all we are hearing today is crude oil or petroleum. The economy of the nation is now dependent on only one product. Everybody wants to become the President because there is a lot of oil money flowing around. Yet we have other nations in the world that lacked crude oil or any mineral resource at all. Take for instance countries like Japan, China and India that have no oil, yet they have managed to make a lot of economic and scientific progress, which we have not recorded in Nigeria.

The question is, do you think this country would have made more progress if there is no crude oil? Is crude oil a blessing or curse to Nigeria? Lets hear your view.

China has some oil i do beleive

I think it's a blessing in some ways and a curse in others, Nigeria was a country that did not progess in such a way as other nations during the middle ages that has hampered overall development ever since. Oil money can help fix up everything that just hasn't been done previously.

Unfortnatly it has also been a curse for Nigeria, corruption has meant that almost none of the money the money earned has even had effects on Nigerians, and the oil isn't going to be there forever either.

I think an excellent example is the United Arab Emirates, country of similar ways to nigeria before the discovery of oil but 30 years later there now a first world country comparable to many westernized culturals with there own distinct way of life.
Oil money has definatly improved the way of life for everyone there including just everyday people.


/end rant

GreatPeter wrote:

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Crude Oil is blessing to Nigeria. It would have been worse if there is no Oil in this nation.Misnagement is crippling our Economy. chao 4m Omopeteru

ITs a 2 way thing, a curse and a blessing. It all depended on how our leaders managed the economy.

Our leaders have made the crude oil into a curse for the nation...all our economy is based on it...any slight crisis is what is needed to cause imbalance in the polity.

It has been the source of a lot bloodshed and harrowing experience for a lot of nigerians, especially those in the niger-delta.

It has been a blessing in its own way, it lead to the rapid development of the country. though in a hapharzad and unplanned way. this is one of the banes of our problems.

in all, what is needed is a good and commited leadership and nigerians with reorientation as per what is good and bad, for crude oil to be a blessing

Oil is a blessing to Nigeria's but now it looks like a curse because of our bad rulers

Oil cannot be considered either a blessing or a curse. Oil truly has no value to Nigerians, unless it is seen as a means of achieving growth, as opposed to an end. Oil is not our problem, OIL OVERDEPENDENCE is. Crude oil continues to be exported at whatever the market price is, and such growth is absolutely UNSUSTAINABLE. Instead, a several step process is needed:

1. SAVE the money made from crude oil, and use it to construct refineries so that more profits can be made AND to create jobs

2. Use the excess money from selling REFINED oil to improve base infrastructure (railroads, power, highways, etc.)

3. In doing this also pump money into economic diversification. Agriculture needs to be improved so that it reaches its earlier levels "Cash or Exports crops like Cocoa in the West, Oil Palm and Rubber Plantation in the East, Groundnut Pyramid of Northern Nigeria" can only return when money is diverted to them and they in turn will generate far more money IN ADDITION to oil exports. To restate, oil is not the problem, but overdependence.

4. In addition, mining must make a comeback through investment/government support. Also, the manfacturing of minerals is crucial. Bitumen & Natural gas, in turn, can be burned locally and used to improve the power supply.

5. MANUFACTURING  has been critical in EVERY nations rise to the top. Japan, India and China all have significant manufacturing operations. Profits from agricultural and petroleum sectors can help manufacturing take root. Of course, technological transfer of knowledge is required for manufacturing to become significant. For example if we are to buy cars/ cellular phones/ PC's from a corporation based in foreign nation, we should still assemble them in Nigeria, and our workers or university students should be trained so that some day, a Nigerian company can manufacture cars. Self reliance in all areas is crucial to development. Even India today is exporting vehicles. As the cliche goes: "give me a fish, I eat for a day; teach me to fish, I eat for a lifetime."

Again, I reiterate, these cannot be taken as mutually exclusive, but they are all necessary to keep a vibrant and growing economy. A nation needs several things to fall back on, not just one area of dependency.


As you can see, each of these creates more jobs in addition to leading to advancement.

Hidden_Hunter:


I think an excellent example is the United Arab Emirates, country of similar ways to nigeria before the discovery of oil but 30 years later there now a first world country comparable to many westernized culturals with there own distinct way of life.
Oil money has definatly improved the way of life for everyone there including just everyday people.

I have to disagree with you based on the fact that the United Arab Emirates is far smaller than Nigeria (under 3million people) and their population is DOMINATED BY EXPATRIATES (over 50%!!!). Therefore, unfortunately, a country cannot live on gas alone. If the UAE was the size of Nigeria, it would be desperately destitute.

It is a blessing but do to the bad rulers and some lazy things from some part of this country, it becomes a curse.

I second @solo2. it is a blessing that was turned to a curse

solo2:

It is a blessing but do to the bad rulers and some lazy things from some part of this country, it becomes a curse.

i concur solo2, it's supposesing but it's rather becoming a curse

CrudeOil is a very good blessing to Nigeria, but the Bad rulers are Mismanaging it, They never think to realise the advantages, a very rich country. crude oil for dat matter

I agree it's a two way thing. A BLESSING AND A CURSE depending on the management. IT's a natural resource and i hope everything changes p the better soon enough.