Oil Revenue And Economic Development In Nigeria
Abstract
The study examined the oil revenue and economic devolopment in Nigeria’s, the first attempt towards the discovery of oil was made in 1905 by a German Company operating in Nigeria called Nigeria Bitumen corporation. However due to eruption of first world war made the initial effort futile. It was after thirty years, in 1938. The study reveal that Nigeria depend on the fuels and also generating more revenue as a income when exporting products to abroad . It also help in correcting balance of payments and also balance of trade.
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References
News from Central Bank Bullion (October-December 1982 volume 7 No.4).
A paper presented by Alhaji M.S. Bello, the NNPC Dependence on the oil sector: Consequence and option.
National Concord, Monday, November 24, 1986, p. 5
Sunday Concord, Sunday, November 30, 1986 p. 13
