When it comes to exports, the federal government of Nigeria apparently relies heavily on crude oil, as the country is well recognised as a major player in the global oil industry. According to The Guardian, although several states in Nigeria produce crude oil, it was in the town of Oloibiri in Bayelsa State in the Niger Delta region when the first crude oil was discovered..…CONTINUE.YOUR.READING..READ THE FULL STORY HERE▶▶▶
According to the Punch Newspaper, the first commercially significant finding of crude oil in Nigeria was made in Oloibiri in 1956. Since this discovery kicked off the oil business in Nigeria, it has been an important contributor to the country’s GDP. In spite of its benefits, the oil sector in Nigeria has been linked to negative outcomes like pollution, societal unrest, and bribery.
Notwithstanding these difficulties, Nigeria continues to be an important crude oil producer, and the government is working to remedy problems in the sector. For instance, the government has implemented a number of regulations to raise standards of living in the Niger Delta and increase the industry’s openness and responsibility..…CONTINUE.YOUR.READING
