Crude oil,a curse in disguise or a blessing to Nigeria

[Rebirth01]

Before crude oil was discovered in Nigeria in 1956, Nigeria's economy was built on agriculture and a few minerals. Basically Nigeria fed the world and built from the ground (soil). What happened, what changed now? Corruption before the discovery of crude oil was minimal but became a national anthem the moment crude oil was discovered. Suddenly everyone is a politician and that made Nigerians to abandon agriculture because there is free money from the dubious politicians to throw around. My question is should Nigeria go back to agriculture to compliment the crude oil? What is your take on this.

[Chilwell]

It was a blessed for Nigeria so never see it as a curse, the only thing that Nigerian are lacking is good leadership, Nigeria is not the only one that are blessed with the natural resources and if you can check the remaining Nations you can see how they are developing, a lot of things have happened that makes us not to see it as a blessing, because sometimes it looks like we don't have it because of how we are suffering when it comes to crude oil.

I am a Nigerian and honestly i feel so bad anytime I think of this crude oil, we are not yet independent that is why our government cannot do anything to solve this problem. The international monetary fund and World Bank are the people behind all the suffering that we are going through, which anytime I see AIDs from all this organizations, I laughed because we all know that they are here to take all what we have so that we will be left with nothing.

I hate to see NGO because this is the organization that they are using to create uncomfortable in our places, they are all in places where the terrorists are disturbing, which was why I believe they are just there to park our mineral resources, I hate them because they come in disguise thinking that they are here to help us not we knowing that they are here to destroy our lives and properties just for their own benefits. We are losing lives everyday and this people are in our community for a very long time and there is no any improvement when it comes to protecting our lives and properties.

[Fortify]

Nigeria has definitely benefited from the vast amount of oil reserves that it has, but how much of that ended up going into the pockets of politicians and how much was not spent on safety when it came to oil pipelines is up for debate. There was a blend of corruption from officials within the country but also from the oil companies themselves with both trying to extract the maximum value for the limited benefit of a few. In many Western countries, at least ones with the bigger oil companies, there have been improvements meant to try out corruption even in overseas operations but it came too late to help this situation. The local politicians are very unlikely to be punished as the judiciary is heavily influenced by the government and judges are equally susceptible to bribery. A few scapegoats would have been picked occasionally to demonstrate a crackdown but it's all theater really. The environmental harm is sadly the worst part of this and oil companies should have taken better care, but it's hard to distinguish between incompetence and sabotage by groups for different reasons, so who will ever really pay for the clean up?

[Obulis]

Natural resources has never been a curse but a blessing and will continue to be a blessing all through human history. The case of Nigeria is not different, crude oil has been a blessing to Nigeria but Nigerians are the ones that made it look as if a curse and a set back and this is not far from human wickedness, greediness and mismanagement that are all taken to be smartness when in real sense it's stupidity. The level of mismanagement and wickedness in Nigeria has made all natural resources a curse to the federation.

Yes before oil exploration and exploitation, agriculture was the bedrock of Nigeria and there is no nation that can do without it, over dependence on other nations for agricultural products will mean unnecessary hardship just as Nigeria is facing it. But the point or question is not about going back to agriculture because every nation needs it and doing that can't happen fully when corruption is the order of doings.

Nigeria needs to reduce corruption from the excellent percentage that it is now to negligible level of nobody is perfect. These will make these oil reserve have an immediate impact on several sectors of which agriculture can't be left behind. Artificial fertilizers are petrochemical products to start with. Some ministries only exist in news and papers so far as Nigeria is consign because their impacts is no where to be found of which ministry of agriculture isn't an exception and this is because of corruption.

Corruption is what left many things not working in Nigeria and eradication of corruption is the answer to a better Nigeria.

[Davidloki]

Before crude oil was discovered in Nigeria in 1956, Nigeria's economy was built on agriculture and a few minerals. Basically Nigeria fed the world and built from the ground (soil). What happened, what changed now? Corruption before the discovery of crude oil was minimal but became a national anthem the moment crude oil was discovered. Suddenly everyone is a politician and that made Nigerians to abandon agriculture because there is free money from the dubious politicians to throw around. My question is should Nigeria go back to agriculture to compliment the crude oil? What is your take on this.

Crude oil can never be a curse to the Nigerian economy, the probelm is with the leaders and how they choose to manage it. Crude oil has solved so many economic and societal problems by providing means of generating electricity, serving as foreign exchange earning and attracting foreign investors, source of government revenue and many others.

Agriculture is also as important as crude oil, with more local interest over foreign interest. It has limited trade exchange compared to crude oil but could be incorporated to serve a common purpose, the effectiveness of both depends of their management.

[7juju]

The problem of Nigeria is the leadership. Nigerians don’t have problem of going back to Agriculture, but the government of country don’t prioritize agriculture. The moment Nigerians elect a president that knows how to generate wealth through farming, the country will prioritize agriculture again. The leaders the country has been having since independence haven’t really prioritized the development of the country. They prefer looting the country dry. There is every need for the country to get back to agriculture.

[coin-investor]

Suddenly everyone is a politician and that made Nigerians to abandon agriculture because there is free money from the dubious politicians to throw around. My question is should Nigeria go back to agriculture to compliment the crude oil? What is your take on this.

I'm not from Nigeria, but if there's something that my country wishes to have, it is a supply of crude oil. We are an agricultural country, but without oil to sustain the transportation and manufacturing sectors, we cannot sustain and support our agricultural sector.

Oil in this modern era is very important; it powers the economy. If you're only importing oil, you are at the mercy of oil-rich countries; transportation fares and commodity prices will rise.

[Rebirth01]

Natural resources has never been a curse but a blessing and will continue to be a blessing all through human history. The case of Nigeria is not different, crude oil has been a blessing to Nigeria but Nigerians are the ones that made it look as if a curse and a set back and this is not far from human wickedness, greediness and mismanagement that are all taken to be smartness when in real sense it's stupidity. The level of mismanagement and wickedness in Nigeria has made all natural resources a curse to the federation.

Yes before oil exploration and exploitation, agriculture was the bedrock of Nigeria and there is no nation that can do without it, over dependence on other nations for agricultural products will mean unnecessary hardship just as Nigeria is facing it. But the point or question is not about going back to agriculture because every nation needs it and doing that can't happen fully when corruption is the order of doings.

Nigeria needs to reduce corruption from the excellent percentage that it is now to negligible level of nobody is perfect. These will make these oil reserve have an immediate impact on several sectors of which agriculture can't be left behind. Artificial fertilizers are petrochemical products to start with. Some ministries only exist in news and papers so far as Nigeria is consign because their impacts is no where to be found of which ministry of agriculture isn't an exception and this is because of corruption.

Corruption is what left many things not working in Nigeria and eradication of corruption is the answer to a better Nigeria.

Yes crude oil is not a curse but complimenting it with agriculture would boost the economy more. Agriculture can produce job opportunities for young school leavers thereby reducing unemployment and pressure from the government to create jobs. The white collar jobs is already occupied leaving few slots for hundreds of thousands of people to jostle for it. Nigeria can actually add it to her exports making Nigeria to make more money.

[abhiseshakana]

When i ask google about What word best describes Nigeria? the answer is Giant (in demography, economy and culture), dynamic and resilience, because of the extraordinary energy of its people in innovating amidst various challenges. So i assume Nigeria has a strong foundation to move forward. To some extent. I am little familiar with the situation in Nigeria because I frequently export glycerine to Nigeria.

If your government cannot be relied upon at all no need to wait for the government to change first, you can start by making one community which created differnt culture and habit from the system currently. This community can start with build small institution which practicing organizational conduct that is honest, transparent, and free from collusion, corruption, and nepotism whether in economic or political terms. Soetimes national change doesn not always begin in parliament, sometimes it start  with a small group of people who think and act in a different way with system that they are criticized.

I hear from my buyer that Nigeria biggest problem are big resources wealth without value added industrialization. Maybe at the meantime your country caught on oil curse but the root problem how to increase productivity and basic industrialization. Nigeria citizen must turn to a new leaf by change exist comparative advantages become future needed industry on every sector, so Nigerian need more domestic value creation if possible can push government to use oil revenue to build infrastructure that less dependent to oil economically.

The example what small group can do, some farmers form a business group and become industrial producer by purchasing simple drying and milling machine, producing flour, package the product and selling to local shop and online. Try to strengthening the circulation of money within the community with create product and build local supply chain so same amount of money can create multiple transaction cycle.

[Rebirth01]

The problem of Nigeria is the leadership. Nigerians don’t have problem of going back to Agriculture, but the government of country don’t prioritize agriculture. The moment Nigerians elect a president that knows how to generate wealth through farming, the country will prioritize agriculture again. The leaders the country has been having since independence haven’t really prioritized the development of the country. They prefer looting the country dry. There is every need for the country to get back to agriculture.

I agree with you, the problem is setting a standard for agriculture. Malaysian government took palm trees from Nigeria and they become one of the world best producers of palm oil. Malaysia developed their country it. Malaysia i believe had a plan of making agriculture one of their main product and added other mineral resources to compliment it and it's a plus to them. It actually generated revenue and job opportunities for their citizens so Nigeria can borrow a lift from it.

[Filicius]

My question is should Nigeria go back to agriculture to compliment the crude oil? What is your take on this.

I don't think Nigeria could go back even if they wanted to. Even though in a sense it might be a good decision to not be so dependent on crude oil, it is counterintuitive and goes against the interests of many very powerful people.

I agree with the rest of my colleagues that it is not a curse either, it is a resource that allows you to compete, when other countries around you do not even have that option. But of course, from there to wealth benefiting most of the population there is a long way.

[stompix]

Basically Nigeria fed the world and built from the ground (soil).

What a load of crap!
In 1950, Nigeria produced 10.5 million tons of corn and millet, 3.0 million tons of yams, and 2.0 million tons  of cassava, the rest were negligible.
Canada alone produced around 31 million tonnes of wheat, oats, barley, and potatoes.
Should we compare that to the US? lol!

You guys are so eager to rewrite history just to invent excuses for today's failures and find someone to blame!

My question is should Nigeria go back to agriculture to compliment the crude oil?

Yeah please do! Then you will find out why every developed country doesn't rely more than 5% on agriculture for its GDP.

[Byebyebtc]

Crude oil is obviously a blessing to Nigeria, but it's natural that when stuffs like these happen greed increases, and that is when corruption starts,
If Nigeria had good leader with the natural resources they have they are supposed to be one of the richest globally. But in a country with greed and corruption blessings like these will look like a curse.

[Franklyn-wood]

The problem of Nigeria is the leadership. Nigerians don’t have problem of going back to Agriculture, but the government of country don’t prioritize agriculture. The moment Nigerians elect a president that knows how to generate wealth through farming, the country will prioritize agriculture again. The leaders the country has been having since independence haven’t really prioritized the development of the country. They prefer looting the country dry. There is every need for the country to get back to agriculture.

The discovery of crude oil has never been the problem of Nigeria in any way, because before now we have been successfully engaged with agriculture and there have been problem in the country, only for leaders who are interested in making themselves rich and wealthy.
Nigeria lacks sincere leaders who are ready to work and make the country better and workable, they are only there to serve themselves and there pockets rather than Puting in effort to make the country a better place.

[batang_bitcoin]

Before crude oil was discovered in Nigeria in 1956, Nigeria's economy was built on agriculture and a few minerals. Basically Nigeria fed the world and built from the ground (soil). What happened, what changed now? Corruption before the discovery of crude oil was minimal but became a national anthem the moment crude oil was discovered. Suddenly everyone is a politician and that made Nigerians to abandon agriculture because there is free money from the dubious politicians to throw around.

If there's a big deposit of oil in the lands of Nigeria and the politicians will utilize that advantage, the country will prospect including its people. But for as long as the politicians are corrupt because they're the ones to manage it and will decide on how they're going to move, this gives them the first move of how it will go in their advantage and not with the people.

My question is should Nigeria go back to agriculture to compliment the crude oil? What is your take on this.

If the country is rich in soil for agriculture, then do it and the rest will just follow.

[Stepstowealth]

My question is should Nigeria go back to agriculture to compliment the crude oil? What is your take on this.

The agricultural sector will even become a very important sector in the future that will be profitable because I believe the world Food supply is reducing because of the growing number of population and there is also scarcity of naturally produced agricultural products as there are lots of processed food now taking over. As time would go on organic food produce naturally in the farm lands will be more expensive than the processed food as organic food become more scarce so anybody or any nation investing correctly in agriculture will get to reap the benefit later in the future in terms of profit.

[yixichloro2xx]

Hope you aware that there are some top nations that doesn't even have crude oil while some have just little. Take Japan for example, they don't produce crude oil, so they rely heavily on imports, especially from the middle East. Now guess what, the blockage of strait of Harmouz has prevent Japan from accessing oil at a faster rate, they might even run out of oil if the closure of strait of harmouz continues. I know that with this ongoing conflict, Japan will be wishing that they were producing oil.  So we having oil is a big blessing. At least there's no scarcity, we produce more. The problem there is just the price at which we buy Petrol, due how bad our economy is . As a result of bad governance who can't offer solutions, apart from chasing their own personal interest.

[Smack That Ace]

Oh, here is another example of Dutch Disease! Although crude oil initially came as blessing for Nigeria. Excessive greed and lethargy turned it into curse. Nigerian are no longer interested in hard work of farming.

My question is should Nigeria go back to agriculture to compliment the crude oil? What is your take on this.

In fact both industrial and agricultural sector could have been profitable for Nigeria's economy had corruption free system been established. And had government provided adequate support.

In my opinion Nigeria should now follow Norwegian model. Despite possessing vast oil reserve they did not become solely dependent on them. Alongside oil revenue they have advanced their fisheries and technology sector. Their connection to their ancestral profession remain unbroken while same time they have made significant stride in field of modern technology.

[lombok]

Hope you aware that there are some top nations that doesn't even have crude oil while some have just little. Take Japan for example, they don't produce crude oil, so they rely heavily on imports, especially from the middle East. Now guess what, the blockage of strait of Harmouz has prevent Japan from accessing oil at a faster rate, they might even run out of oil if the closure of strait of harmouz continues. I know that with this ongoing conflict, Japan will be wishing that they were producing oil.  So we having oil is a big blessing. At least there's no scarcity, we produce more. The problem there is just the price at which we buy Petrol, due how bad our economy is . As a result of bad governance who can't offer solutions, apart from chasing their own personal interest.

Owning fossil fuel reserves should put Nigeria in the strategic position much desired by the resource poor consuming countries. The incumbency of producing on a daily basis can help to reduce the risk of physical stock outlet with the supply being well built in case of international oil industry crisis.

When the downstream energy sector gets ignored amid the greed of the ruling elite, bitter irony ensues. The fact that processing mining products are not independent, imposes a heavy burden on the citizens, who pay high prices for gasoline, and it is an indication that natural wealth has become a curse on the face of people as a result of oppression of morals of the rulers.

[Positive_mind]

Nigeria is a country blessed with so many minerals and which crude oil is one of them, how would that be a course to the country? What other countries are praying for, the bad leaders in Nigeria has made it seem that way, Nigeria should be a very rich country just as UAE and rest countries other countries that is swimming in so much crude today. Your politicians are doing so many things so that the citizens wouldn't understand the mass of wealth they're sitting base on rich crude oil soil. That's why insurgency, kidnapping and insecurity is ravaging the country, while they're busy looting the country's crude oil.