Essay on Natural Resources in Nigeria

Africa is richly endowed with natural resources that, as the most developed continent, would have placed it on a world map. This has not been the case since the management of these resources has been a recurring challenge to many countries; terribly and embarrassingly dismal. In particular, oil and natural gas were notoriously precarious. Not many countries have been able to shift revenues from these resources, whether land, sea, forests, and other ecosystems, to sustainable economic benefits, this occurrence has been viewed as a resource curse. Not only has this stalled development, but it has created poverty and socio-economic discrimination that has resulted in both crime and insurgency.

The continent of Africa includes countries with tremendous amounts of natural resources, but at the same time experience high poverty rates. Nigeria is Africa's leading producer of oil with AN output of over two million barrels of crude day by day, yet, many folks in Nigeria live below their income. No issues with the administration are responsible for the big gaps involving poverty. Most of the issues occur from the corruption of the political parties even once having such high value in natural resources. they producers of diamonds and gold are said to be the biggest portion of mining interests before the depletion of the country's best deposits.

Save your time!
We can take care of your essay

• Proper editing and formatting
• Free revision, title page, and bibliography
• Flexible prices and money-back guarantee

Place an order

South Africa is the world's largest producer of platinum and chromium, which are mined at centers such as, 'Rustenburg and Steelpoort in the northeast and are becoming increasingly significant economically' (n.d, 2019).

Another fascinating reality is that South Africa provides a nearly common fraction of the world's noble metal. With having huge resources like they are doing, it's still a struggle for them once facing a twin economy. A majority of the high state of fifty are from the young ages 15-25 thanks to the shortage of skills and basic education that can't turn out a talented working class. twenty-seven in 2017 was the share of people lacking those qualities for the working class. impoverishment happens to air the increase in the Republic of South Africa. kids ages seventeen and younger, black Africans, females, individuals from rural areas, and people living within the Japanese Cape/Limpopo with very little to no education are the victims of the in-progress issues of impoverishment.

Nigeria deals with most of its natural resources in a variety of 'oil-like' resources. Their main revenue is from boring. Oil is also the leading natural resource nowadays, however, in years past it was cocoa that was massive. the analysis explained that farmers were abandoned with hardly any demand for the cocoa once oil happened. Profits were generated from the oil business results in it being the most focus. Oil transportation such AN abundance of revenue, several wished to achieve some kind of share of the profit being made of the resource. A free market was established once the producers transitioned from little profits to massive profits with the assembly of oil. The cocoa business went unnoticed. recent cocoa trees didn't turn out the maximum amount as oil did which is the reason for top demand and this created firms wishing to partner up to achieve oil.

Nigeria appointed that oil may be an immense pollution downside within the Niger Delta. Oil spills have set the instance of a negative spatial relation for the very fact that it's inflicting farmers to own their crops killed from such spills, all caused as a result of oil drills that don't seem to be regulated by corruption. the shortage of the correct instrumentation to properly pump oil with no spillage became an issue for the very fact that the oil lays on the surface of the water. The oil spills are killing the fish within the Delta from very little to no contact with atomic number 8. Also, farmers were aforesaid to own had sixtieth of reduction in social unit food security. There are lots of people who rely upon the soil from the Niger Delta. Having regulated instrumentation will facilitate higher farming tools for those in would like the soil to grow such crops. The oil firms that pump ought to wish to pay the money on cleanup up the water of the Niger Delta however that will see less money for them in the end.

An abundance of natural resources provides substantial revenue for an economy but unfortunately in many developing countries where there are weak infrastructures and poor people, the temptation of this revenue can cause corruption, especially in the political sphere. When a government experiences large flows of finance, especially if these flows are relatively sudden, for example, the discovery of minerals or oil, or new technology that helps extract resources, it can be hard for a government to manage such flows (Dietz 2005). They may not have had experience in dealing with large sums of money. These sudden windfalls increase the opportunity for corruption as it is hard to keep track of the money and therefore it is easier and to steal and waste.

South Africa has the firmest and most powerful economy on the continent. they're a developing country that has their ups and downs similar to the other country therein class. Sadly, it's glorious that there's an outsized quantity of state cash that winds up in corrupt activities from the procedural method. procural is the acquisition of products and services at the most effective potential total value of possession, within the right amount and quality, at the correct time, and within the right place usually with a contract.

Corruption may be a major downside inside the general public sector involving procure. there have been several cases in the Republic of South Africa that were associated with fraud and corruption. The General Public Service Commission incorporates a restricted capability to handle investigations of reported cases. Unlawful acts have resulted in the loss of religion within the government system of the Republic of South Africa from nothing being done once the reports of fraud and corruption cases. The workplace of the chief procure officer was established for reviewing high-worth contracts to form positive all contracts meet the legislative prescripts. the main reason was all thanks to the shortage of skills, capacity, and conjointly individual government departments.

Corruption of all kinds is most common all around the continent of Africa which ends up in progress issues in countries like the Republic of South Africa. A negative spatial relation forms with the matter of corruption as a result of the voters in the Republic of South Africa are exposed to unethical activities inside their government and are moon-faced with trustiness to follow what the govt. needs from the individuals.

Nigeria's corruption inside the government has invariably been a hassle. Most of the Democrats were concerned with the corruption of pillaging, misappropriating, and embezzling the country's wealth to solely profit themselves and not the general public.

Knowing that the citizens of Nigeria must be abandoned by the political leaders and one thing in government must be modified. Everybody within the country ought to see outcomes from sure profits made of their natural resources and not solely the political leaders concerned in the deals. The leaders inflicting the disturbance in spare time activities are from 'military coup d'etat'. Unlike a revolution, which is usually achieved by large numbers of people working for basic social, economic, and political change, a coup is a change in power from the top that merely results in the abrupt replacement of leading government personnel. All the various corrupt practices done by leaders in Nigeria create progress issues in the development of the nation's infrastructure, social services delivery, and socioeconomic advancement.

In conclusion, the Republic of South Africa and Nigeria each have to ask for a modification to unravel the issues with corruption and natural resources used to higher the economic structure for both. Countries made, and poor can ne'er be in tip-top form by any means that. Economic dilemmas can take time to induce higher, particularly in those developing countries. there's still hope that the 2 countries will address their issues and fix them no matter what is wrong whether or not it's their problems from natural resources or the political leaders corrupt things.

Nigeria and the Republic of South Africa are trying to get out of the slumps that they need had within the past to make a more robust economic structure. A step that ought to be taken for each is to unfold the money from those natural resources to decrease the wage gap between the rich and also the poor. Political corruption can have to be a non-factor to work out enhancements likewise. The corruption can have to come back to a stop and have leaders that are strictly for the individuals altogether fields to grow.