How Oil-dependence truncated Nigeria’s Industrial Development

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OPINION: How Oil-Dependence Truncated Nigeria’s Industrial Development

It is the devil’s excrement. We are drowning in the devil’s excrement. –Juan Pablo Pérez Alfonso, Founder OPEC.Ordinarily, finding a “treasure” tends to bring joy to the one who found it. Oil discovery has become Nigeria’s developmental Achilles’ Heel: in popular parlance, a Resource Curse. Six decades after independence, Nigeria remains one of the poorest countries in the world.

 

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