Oil Trade, People and Power Relationship: Exploring a Possible Point of Convergence for Nigeria

JOURNAL OF STRATEGIC INNOVATION AND SUSTAINABILITY

Oil Trade, People and Power Relationship: Exploring a Possible

Point of Convergence for Nigeria

Author(s): Olumide Abimbola Ajayi

Citation: Olumide Abimbola Ajayi, (2012) "Oil Trade, People and Power Relationship: Exploring a Possible

Point of Convergence for Nigeria," Journal of Strategic Innovation and Sustainability, Vol. 8, Iss. 2, p. 66 - 79

Article Type: Research paper

Publisher: North American Business Press

Abstract:

Oil continued to influence the dynamics of power and international relations because of a wide spectrum

of internal and external interests associated with the exploration and utilisation of its revenue. In spite of

cumulative revenue of $400 Billion since the oil boom of 1970s, 70% of Nigerian citizens are still living

below $1/day. The paper used resource-curse theory, comparative analysis and a robust literature review

to examine the various issues around oil in Nigeria, exploring possible point of convergence between

trade in oil, people and power relationships that can deliver tangible benefits to Nigerians and possibly

citizens of other oil producing countries.