Socio-Economic Problems of Oil Exploration and Exploitation in Nigeria’s Niger Delta

Abstract

Since the 1970s, Nigeria’s socio-economic and political fortune have been intricately linked with oil explorations, with petroleum oil providing about 95 percent of exports earnings and accounting for over 80 percent of government revenue as well as generating over 40 percent of the GDP. It is revealing to note that the oil that generate these numerous benefit to Nigeria come solely from the Niger Delta region. However, the paradox is that while oil from Niger Delta has generated massive economic and social transformations of many parts of the country on the one hand, it      has resulted into unparalleled damage to the Niger Delta environment thus inducing a multifaceted problems in the region. This paper examines the social and economic problem of oil exploration and exploitations in the Niger Delta region. The paper identified abject poverty, deprivation, social conflict, occupational dislocation, ill health, etc. as some of the social and economic problems resulting from environmental pollution associated with oil extractions activities in the Niger Delta. The paper also made recommendations.

Key words: Social; Economic; Problem; Oil; Exploration, Exploitation