Nigeria: A Land Sinking in Oil
No hay miniatura disponible
Fecha
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Resumen
Descripción
Prior to 1973, Nigeria’s largely agricultural economy was sustained by 90% of its population, its
subsistence farmers. Since then, Nigeria has suffered a case of Dutch Disease where the dependence on oil has
crowded out the agricultural sector from the market. Rather than responding to the needs of the population, the
Nigerian government has focused on the interests of the profitable Nigerian National Petroleum Corporation
(NNPC). Despite Nigeria’s great GDP growth earning the title of an “emerging economy,” its population’s
standard of living has deteriorated. In this paper, I argue that the shift from oil to small‐scale farming would allow
Nigeria to establish an economy resilient in the face of price fluctuations, employ its comparative advantage in
agricultural capital and labor force, and make the government directly accountable to the people.