Analyze the effects of the oil economy on Nigerian refugees Carmen Miller Nigeria is Africa’s most populous country, and when oil was discovered in the Niger Delta in 1958, Shell oil began production (Crude Politics). With an average output of 2.5 million barrels per day (Donatus), Nigeria has become the highest producer of crude oil in Africa and the third-highest in the world (World Factbook). Nigeria’s population growing rapidly, and is projected to reach 392 million people by 2050 (Falola),
OF STUDY Nigeria, the most populous black nation in western Africa is popularly known for her dominant source of revenue, crude oil with oil revenue as the main stay of the Nigerian economy, volatility in the price of oil are to a large extent of prime interest to economist. According to Adeniyi et al (2004), exchange rate appreciate in response to rising oil prices and depreciates in response to falling oil prices in oil producing exporting countries while the reverse is the case in oil importing
that, in the production of any resource of fixed magnitude, the production rate must begin at zero then, after passing through one maximum, declines again to zero. The second assumption states that the area under the production rate VS. time curve is equal to the ultimate oil recovery as time approaches infinity. In other words, Hubbert’s model shows that for any hydrocarbon producing basin or region, the rate of petroleum production will always follow a bell shaped curve. The production rate will
Evaluation of Market Strategy for Gas Assets In Nigeria: A Study Of Chevron 1. Introduction Nigeria is regarded as a gas-rich country as its gas reserves far outstrips its famed oil assets. This has led to targeted, cut-throat drive among multinationals already operating in the country to exploit gas assets in the country to its fullness. Although gas flaring and the uncertainty over the Petroleum Industry Bill (PIB) still persist due mainly to the lack of will and commitment to address age-long
OF STUDY Nigeria, the most populous black nation in western Africa is popularly known for her dominant source of revenue, crude oil with oil revenue as the main stay of the Nigerian economy, volatility in the price of oil are to a large extent of prime interest to economist. According to Adeniyi et al (2004), exchange rate appreciate in response to rising oil prices and depreciates in response to falling oil prices in oil producing exporting countries while the reverse is the case in oil importing
poverty reduction. However, growth hypothesis suggests that energy consumption is an indispensable component in growth, directly or indirectly as a complement to capital and labour as an input in the production process (Mulegeta et al. 2010).since energy plays a crucial role in contribution to production and consumption activities the nexus between energy consumption and economic growth has been a subject of significant attention in the literature. All economies in the world regard energy as
in the coastal environment of Nigeria in particular and has been the major source of environmental air pollution in Nigeria. Oil exploration, production, and refinement in Nigeria has also resulted in various environmental and ecological problems that range from oil spills, gas flares, habitat destruction, air and water pollution, and land degradation. Also, a major cause of oil pollution in that same region is also to a great extent, from the activities of illegal oil bunkering and illegal refineries
1914, the continent of Africa was in complete chaos as the European colonizers started taking power from the existing African cities through means of violence and coercion. Nigeria, a country in West Africa, was a hub for natural resources like palm oil, timber, and other
world-wide contributes much to air pollution. Production of such things like motor vehicle, engine of all kinds, equipment like war weapons and which a times call for testing them at open places cause air pollution. The heavy duty engine use in manufactory companies which aid in the work of production of other machines pollutes the air often and thereby cause serious environmental issue that cause a lot of ill-health to human beings. The failure of Nigeria Government to produce or serve the citizens
transportation, telecommunications and other services has caused them to live in their old traditional ways which means more work and less income. In some areas where the people rely on farming and cultivation have droughts which leads to less production of food, so their income decreases and they also suffer from malnutrition and starvation. They have a political environment of corruption, nepotism and bureaucracy, with politicians who pretty much buy the poor families' votes with food, promises