Nigerian Mismanagement of its Petroleum Resources and its Effect on the Nigerian Economy

This thesis focused on Nigeria’s mismanagement of its petroleum resources and its effect on the Nigerian economy. It is divided into three parts. The first part dealt with the historical perspective of Nigeria. This included a brief economic history of modem Nigeria and its petroleum. Part two, analyzed the causes of mismanagement of Nigerian petroleum resources, concentrating on Nigeria’s dependency on its oil revenue, the oil crisis in the early 1980’s and finally the oil bunkering. This section also discussed the effects the mismanagement had on the Nigerian economy. It paid greater attention to the neglect of agriculture in Nigeria, inflation, unemployment, social problems, currency depreciation and foreign debt. Part three, examined the government’s effort to revamp the Nigerian economy. This section concentrated on the Structural Adjustment Program (SAP). It discussed the gains and burdens of SAP. It examined other alternatives that the government can use to save the economy. Finally the section also contained the conclusion, which paid attention primarily to some recommendations