Nigerian Development The Face Of Oil Extraction And How...

An archetypal example of an oil state and primary exporting country, Nigeria is the largest oil exporter in Africa and the world’s tenth largest oil producer (Pyagbara 2007: 1). As of 2010, crude oil and petroleum gas accounted for approximately 80% of the country’s overall exports, totaling over $50.3 billion in revenues the next year (Pyagbara 2007: 2). Despite maintaining a lucrative resource that could arguably catalyze momentum towards economic development, poverty plagues Nigeria and continues to rise despite efforts to forge positive, developmental changes. In fact, areas showing the largest amounts of oil like the Niger Delta happen to be the country’s most economically marginalized region. A significant impetus of these tumultuous changes has been multinational oil corporations like Shell that have been extracting oil in Nigeria since 1956. This paper seeks to examine Nigerian development in the face of oil extraction and how MNCs such as Shell have play ed a role in the country’s development. I will argue that MNCs, specifically Shell, have had an adverse effect on development within Nigeria as a result of oil extraction and the establishment of dependency on oil, both of which are amplified by the deep-rooted intrastate issues present despite MNC intervention. Development in the Context of Oil: Fiscal, Social, and Ecological Damage Multinational oil corporations such as ExxonMobil and Shell share a long history of oil extraction in Nigeria. Royal Dutch Shell andShow MoreRelatedMultinational Companies and Their Social Responsibilities (Α Case Study of Shell, Nigeria)15078 Words   |  61 PagesCHAPTER TWO 2.0 AN OVERVIEW OF SHELL DEVELOPMENT COMPANY IN NIGERIA 2.1 Introduction This chapter will provide basic knowledge of Shell Nigeria Oil Company and its operation in Nigeria, in particular regarding its ethics, performance, social involvement, contribution to national income and its contribution to keeping the environment green. Since the Rio Conference of 1992 the code of conduct for all extractive industries including crude oil mining companies has underlined the following principlesRead MoreAn Impact Assessment of Science and Technology Policy on National Development of Nigeria61708 Words   |  247 PagesAN IMPACT ASSESSMENT OF SCIENCE AND TECHNOLOGY POLICY ON NATIONAL DEVELOPMENT OF NIGERIA BY ABUBAKAR ABDULLAHI October, 2 0 0 4 ii AN IMPACT ASSESSMENT OF SCIENCE AND TECHNOLOGY POLICY ON NATIONAL DEVELOPMENT OF NIGERIA BY ABUBAKAR ABDULLAHI (MATRICULATION NO. 3081) A Dissertation Submitted to St. Clements University in Partial Fulfillment of the Requirements for the Award of Doctor of Philosophy in Management St. Clements University October, 2004 iii DECLARATION I declare that