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| Olusesan |
Oil and Gas are Nigeria’s
economic cash cows. The commodities account for about 80% of Nigeria’s external
earnings and form a substantial 60-70% of her Gross Domestic Product, GDP. The
huge deposit of these resources in the bosom of Nigeria’s soil and the nation
near monolithic exploration of oil and gas for economic growth and
sustainability, have crooned Nigeria’s economy has an oil-dependent.
Besides her size and projected
population explosion of 200 million people in the next two decades; Nigeria is
an irresistible global bride because of the huge deposits of oil and gas
resources covered by her earth and the essentiality of oil and gas in the
global economic marketplace. This essentiality and the quest to rule the world
from resources accruable from oil and gas explain the various scales of crises
on the global space, especially in the Middle-Eastern nations. The brewing
crisis on the Bakassi Peninsular is also metaphoric of what nations can do for
the black gold.
