S3 EP 8: Oil Addiction - 24th September 2023
Автор: PublicEye Ng
Загружено: 2023-09-24
Просмотров: 291
In this episode we will discuss Nigeria's reliance on oil, and ways in which we can change from a mono-economy into one that creates income out of multiple sources. Thus, creating more jobs, stabilising the economy and pulling more people out of poverty. Despite a slight revival in the 1990s, the economy has yet to recover to early 1970s levels of prosperity.
Today, ¾ of Nigerians live below the poverty line, in a country that produces around 1.3 million barrels of oil daily (it was 2.6 million a decade ago). Petroleum accounts for 80% of budgetary revenues and as a result, high inflation has hurt investments for the average Nigerian and made international investment aside from fossil fuels a near impossibility. Few jobs in the oil sector have been created for Nigerians and wealth distribution is grossly unequal. Nigeria has more than enough other resources to recover its economy, as we had done in the past with the trading of palm oil, cacao, etc. But the predatory nature of the oil reliance has laid the groundwork for the corrupt governance of today, and the destruction of ecosystems within the country.
Join Host: @funmiiyanda on @tvcconnect by 9pm on Sunday September 24, 2023. The show is produced by @oyamedia with support from @macfound
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