The oil production in nigeria and its negative effects on the country

Nigeria, like other developing countries of the world is paying more attention on how to accelerate the rate of her development through the various sectors of the economy. Petroleum or crude oil is an oily, bituminous liquid, consisting of a mixture of many substances mainly the elements of carbon and hydrogen, and thus known as hydrocarbon. It also contains a very small amount of non-hydrocarbon elements, chief amongst which are sulphur, nitrogen and oxygen.

The oil production in nigeria and its negative effects on the country

A, Germany, France to mention but these few. Being employed makes one happy. Awake stated that meaningful employment could bring happiness, makes one wanted and needed.

The oil production in nigeria and its negative effects on the country

It further argued that people acquire certain skills so that they could be employed and be able to provide for their needs and that of the family, but unemployment seems to step in and dash this hope. Government on her side also forget Agricultural sector, which was the mainstay of the economy in the s.

Byan estimated 3. All the components of the labour force suffered from the scourge of unemployment of youths, especially graduates, retrenched civil servants and private sectors employees.

The unemployment consists of all those that are willing to work and able to work but are unable to find job. The total labour force of Nigeria is made up of those between the age of 15 years and 59 years. Unemployment arises when the demand for labour of the factors of production falls short of supply.

In this study therefore, we are going to examine the causes and consequences of unemployment in the society with Ika North East as a case study. Unemployment situation in Delta State is inherent in the capitalist system of Nigeria economy. As policy makers are not committed to evolve pragmatic measures capable of reducing unemployment to the barest minimum, we find out that the unemployed are alienated, because such policies as poverty alleviation programme, National Directorate For Employment NDE not in any way reduced the problem of unemployment, but has been hijacked by some selfish and greedy Nigerians.

Mccleland made an assumption about people which say that man is not often looked upon as a rational economic man, social man, self actualizing man and complex.

So that unemployment seems to dash away these needs. Unemployment has been the bane of the society, it has defied solutions both state and local governments. It is for this reason that the researcher was motivated to undertake this study in order to investigate the causes and consequences of unemployment in the study area.

It is the hope of the researcher that if the causes and consequences of unemployment in the study area are known, the solution will not be far fetched.

Lampam report on the cause of unemployment stated that agriculture is the taproot of an economy. He warned that any attempt to give agricultural activities a secondary attention in the economy of any nation would sooner or later create unemployment situation.

Investigation into Nigeria sources of revenue in the s and early s showed that agricultural products was the chief source of income to the country. But with the neglect of agriculture due to oil boom, the economy late failed, and has resulted into unemployment.

The second factor according to Lampan was the degree of unemployment in the developing countries were due to the neglect of indigenous technology and inadequate patronage received by local industries from the consumers and their government as well as the rate of profit reinvestment in the foreign owned industries in the country.

He observed that in any economic system where indigenous technology and local industries were not encouraged and patronized, there tend to be a decrease in the production capacity and, an increase in the dumping of the countries wealth in foreign countries in the name of purchasing foreign goods.

The picture portrayed by Lampan above, was actually what happened in Nigeria, were especially during the oil boom period that has resulted to the unemployment situation in the country. Finally, the greatest unemployment-causing factor in Nigeria has been identified to the ineptitude, corruption, fraud and general failure of leadership in our country.

Problems of Unemployment Some of the problems of unemployment are as follows: Unemployment brings frustration and disappointment. Unemployment causes crime like robbery, prostitution, drug trafficking. Unemployment syndrome is so rampant in rural and urban area.

Unemployment had led to increase in poverty. Do you think that if there is adequate employment in Ika North East, crime rate will fall? Do you think that increase in unemployment had led to poverty?Abstract. Petroleum exploration and production in the Nigeria’s Niger Delta region and export of oil and gas resources by the petroleum sector has substantially improved the nation’s economy over the past five decades.

Causes And Effects Of Unemployment On Society. Causes And Effects Of Unemployment On Society. The problem of unemployment has remained intractable even in the developed economies of the world namely, U.S.A, Germany, France to mention but these few.

The EIA has apparently stopped publishing its International Energy Statistics. Instead they are now publishing an abbreviated version on their Total Energy web page titled: Tabel b World Crude Oil they publish crude + condensate production numbers for Persian Gulf Nations, Selected Non-OPEC Countries, Total Non-OPEC and World.

last five decades made the country to be a spectator in its own territory, external reserves are derived mainly from the proceeds of crude oil production and sales. Nigeria produces approximately 2,, price of international oil prices great have negative impact on the 2) is 2.

Health, Wealth and the Price of Oil ::

Citation: Usman A, Madu I, Abdullahi F () Evidence. Impact of High Oil Prices on African Economies negative effects. This chapter provides a comprehensive Although the GDP of a country is a generic measure of () studied the effects of oil production shocks in Nigeria; Kpodar () looked at the way international oil prices are transferred to household expenditures in Mali;.

The imposition of colonialism on Africa altered its history forever. African nl0des of thought, patterns of cultural development, and ways of life.

EIA World Crude Oil Production » Peak Oil Barrel