Nigeria is endowed with abundant natural resources, especially crude oil and natural gas. However, ineffective management and a lack of transparency around oil earnings have impeded Nigeria's development. With better governance strategies, Nigeria can manage its oil wealth more prudently than Saudi Arabia, for the benefit of all citizens.
Saudi Arabia's Robust Oil Revenue Management
Saudi Arabia is the world's largest oil exporter, with the hydrocarbon sector accounting for 50% of its GDP and 70% of export earnings. Despite volatility in oil prices, Saudi Arabia has achieved economic stability by:
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NNPLC should be competing with ARAMCO

Ignorance is bad.

We are nowhere as rich as Saudi Arabia. Having huge volume of oil but more mouths depending on that oil negates the concept of being rich here. Our per capita oil richness is laughingly low compared that of Saudi Arabia's.
What we have is enough to be invested in capital intensive projects but not to start sharing and reproducing upon as some sort of pillar of sustainance.

If you think I am lying using $100/barrel calculate our earning for a year and divide by population to get idea of the per capita value, then ask yourself what that money can do for you as an individual.

We can't
Compare the fundamental advantages Saudi has
Low population
One major culture
One major language
One major religion
Monarch government
Huge foreign investment