Advantages And Disadvantages Of Power Sector In Nigeria

People have a tendency to forget that they can use the sun’s energy to heat up things. The sun has always been producing energy for billions of years and billions to come. The energy that is from the sun that is used to heat up things is called solar energy. Solar energy is used for heating up water, spaces, and fluids. For water,

     Nigeria has been a country in political turmoil for a long time. The country was created in 1914 under British colonial rule and at that time it was considered a protectorate. It was not until 1960 that Nigeria received independence from the United Kingdom. One of Nigeria's problems politically is that it has over three hundred different ethnic groups. The three largest of these are the Hausa-Fulani, Igbo, and Yoruba. At the time of the independence of Nigeria it was split up into three states with each state being under the control of one of the major ethnic groups. The natural resources of the other 297 ethnic groups were exploited for the major three groups,

The author accurately stated throughout the article that the government is removing the subsidy as act of corruption. This was shown firstly, by moving the audience towards the direction that the promises deliberated during presidential campaign were not sincere. This therefore, allows the reader to understand that the Nigeria population was not adequately or not educated about this matter. Secondly, the authors provides figures of the refineries’ lack of capacity which showcases the years of mismanagement and corruption which has led to the incapacity to refine oil in the country. Thirdly, it emphasizes that the removal of such subsidy has taken place during the worst time ever given to all the instability in the North and moreover with the energy problems that Nigeria are currently facing. However, in my opinion despite all these facts stated by the author, I strongly believe this article has only one side of the story. In other articles which were investigated for the purpose of this analysis such as it talks about the massive problem they are with smuggling (Madukwe,2012), in addition, it explains how this massive amount of money which is being used to acquire

Multinational oil corporations such as ExxonMobil and Shell share a long history of oil extraction in Nigeria. Royal Dutch Shell and

Today, the oil industry is in particularly difficult s situation in Nigeria. This hardship has both the international and national dimension. At the global level, with the breakdown of global ideological barriers, opportunities for international oil exploration are available in geographical/ geological areas which we did not fore see a few years ago. The political and economic opening of high potential area previously closed to western investment is creating immense demands on the sources of private western capital. low oil pricing have also constrained industry funds available for investments in further exploration activities in the industry worldwide, including Nigeria.

In the articles one can spot from the information given and the opinion of the people are all supporters of the oil industry. In the article written by William Wallis, the title shows the audience the reporter is calling. “Nigeria: The big oil fix” goes into detail how the oil industry is in need of fixing. The audience who just reads the article will agree with the data provided because it gives details about fraud and corruption. In the article, the president states his main concern, which is “fixing the company that manages the lifeblood of the economy – oil” which could make or break his presidency. Through this statement one can see how Nigeria is dependent on oil. Unfortunately, this article does not talk about the corruption that affects the people as well as the background information about the oil industry.

Economy of many nations is currently at distress due to current plunge of oil price the international market. This sink in crude oil price produces an economic shock especially to the poor and developing Countries that depend on crude oil revenues to balance their budgets (Iwayemi, & Fowowe, 2011; also see Effiong, 2014). Nigeria, being one of those nations, is currently experiencing economic crisis. For instance, many states in the federation presently can no longer pay their employees’ salaries or provide basic services to their citizens. They are borrowing money or requesting for bailout from the Federal government to fulfill their obligations to their people. The shocking effects of this oil price drop extended

(2011) to discuss the political economy of the Nigeria petroleum sector. These functions are clearly described in chapter four of this work.

Nigerian National Petroleum Company is mainly responsible for the context of firm strategy and rivalry of the oil industry in Nigeria. The increase in the oil reserves and gas utilization is also achievable due to the introduction of various incentives by the government which includes a Memorandum of Understanding that will guarantee a profit margin of 2 US dollar per barrel. This had allowed an increase in

While it is only the 11th largest global oil producer, Nigeria is one the most important countries in the oil production community. Due to high quality crude oil, potential for future oil production endeavors, accessible location to the vast Western oil market, and continuing trend of non-nationalization, Nigeria has become the largest oil producer in sub-Saharan Africa. These advantages have developed Nigeria into a country entirely dependent on the production and exportation of oil. In 2007, oil encompassed 99 percent of Nigerian oil exportation earnings, making up 85 percent of the governments total revenue1. Despite 400 billion dollars in total oil revenue collected by the Nigerian government since 1970, the country faces a standard of

In this section we would look at the Royal Dutch Shell Oil company operations worldwide and in particular the Nigeria operations from several different angles. We will look at how Shell Nigeria operations can impact upon the three stakeholders; The CEO of Shell, an investor and a local Shell employee. Then we would look at this wicked problem with the oil spill in the Niger delta.

Historically, the Nigerian oil and gas sector like that of many other developing countries, has been dominated by the powerful IOCs resulting into a massive outflow of resources for the payment of training and procurement

Paper Presented at the 46th Nigerian Economic Society (NES) Annual Conference, Lagos. 23rd – 25th August

THE IMPACT OF PRIVATIZATION AND COMMERCIALIZATION ON NIGERIA’S POWER SECTOR [A CASE STUDY ON POWER HOLDING COMPANY OF NIGERIA (PHCN)]

Having grown up in Nigeria, a country with a population of 167 million persons and ranked as the seventh crude oil producer in the world, the largest oil-producing country in Africa, it is ironic that about 117.8 million Nigerians rely on fuels such as animal dung, crop residues, wood, charcoal and kerosene as sources of energy to cook and to power lanterns, an estimated 60 million Nigerians own generators, and spend an estimated N1.56 trillion ($13.35m) annually to fuel them. Only about 40% of the populations have access to electricity supply which is not consistent and 60% of the time they have to endure