Oil Boom in Nigeria: What are the Socio-Economic Implications for Society from 1999-2014?

Chapter 1 IntroductionNigeria is whizz of the leading embrocate producing countries in the world. Nigerias economy was gravidly characte climbd by agricultural production alongside some other consumer goods up to the 1980s, when fossil oil wealth took over the majority of the countrys economy. For more(prenominal) than three decades, Nigeria has exploited her oil preferences for export. The emergence of oil as Nigerias main source of revenue has generated a recite of questions regarding the meaning of the oil wealth to the socio-stinting dissect of Nigeria partnership. It has been unremarkably assumed that Nigerias large oil deposits would spur socio-stinting growth and put the country among the worlds elite nations in legal injury of economic growth and social successfulness (Ian and Terry, 2003). Since independence from Great Britain in 1960, Nigerians have experienced a number of problems ranging from ethno-religious and sectarian conflicts to decadence. According to Gboyega (1996) the post-independent Nigeria is one that has bore the brunt of leadership-induced poverty instigated by dismayion s bottomdals, religious charlatanism, war, restiveness, political instability, series of dictatorial governings, and failure to build underlying amenities among other issues. Ironic everyy, these challenges have intensified during the period when Nigeria experienced what is commonly referred to as the oil boom (Gboyega, 1996, p.39). Julius-Adeoye (2010) believes that Nigerias severe socio-economic crisis started immediately later on independence, when the countrys leaders plundered the nations resources with enormous corruption allegations at the expense of citizens wellbeing excuses that military generals used to raise coups from the civilian rulers. Whilst it was expected that the beginning of Nigerias democratically elected government activity in 1999 under the leadership of death chair Olesegun Obasanjo would see sudden transmute of fortunes for Nigerians, the country has not realised much progress in toll of social progress despite the much hyped economic growth (Salawu, 2010). data indicate that Nigerias oil revenue hit US$ three hundred billion in the last two decades alone (Balouga, 2009). But it is the rise in revenue (over USD$112 billion amid 2004 and 2007 alone) during Obasanjos reign that has brocaded questions closely the countrys priorities and socio-economic development plans. One question one would ask is where did Nigeria got it wrong in terms of socio-economic developmentTo answer this question, there is sine qua non to understand how defining regimes of General Ibrahim Babangida and later Olesegun Obasanjo have contri moreovered to the socio-economic slump of the resource-rich Nigeria.1.1 need and ObjectivesThis study aims to establish the implication of two leaders of Nigeria, General Ibrahim Babangida (1985-1993) and President Olusegun Obasanjo (1999-2007) on Nigerias oil and gas resource watc hfulness and the socio-economic tint with General Babangida setting the pace in the years of misrule and distraction of national resources, he set a precedent that would later refuge the economic and social fabric of Nigeria and its people for later years. Sadly, the trend of inconsistency did not seem to end with military rule but extend with the civilian rule of the democratically elected government (Odebode, 2004).Research objectivesTo establish the single-valued function of General Babangidas regime on the oil resource management and socio-economic development of Nigeria To identify the implication of President Obasanjos reign as a democratically elected leader on the oil resource management and socio-economic development of Nigeria To identify commissions in which leadership can be used to balance Nigerias socio-economic development and improve oil resource management1.2 Research QuestionsWhat is the significance of Babangida and Obasanjos regimes in the socio-economic de velopment of Nigeria? What is the significance of oil wealth to the socio-economic development of Nigerias socio-economic development? What implications do the oil resources have on the local communities social integration and economic wellbeing? To what point has the reigns of these leaders captured in the literature about Nigerias developmental agenda? Chapter 2 Literature Review There is a significant body of literature on Nigerias development framework. It has been set forth as having components of corruption, consumerism, failed socio-economic and political policies, and many other issues (Balouga, 2009 Odebode, 2004 Ian and Terry, 2003).Odebode (2004) observes that Nigerias socio-economic climate in the past four decades has neither promoted any kind of social and economic welfare that can insulate families from harsh market realities nor service them usefulness from market developments (Odebode, 2004, p.12). This is despite massive revenue from oil production. Corruption has been at the core of Nigerias political and social developments independence, saddling between military and civilian regimes, which have regrettably institutionalised corruption in almost all government agencies. When General Ibrahim Babangida toppled General Muhammadu Buharis regime of slight than two years in a bloodless in-house coup on twenty-seventh August 1985, the country proverb thirteen years of corruption in Nigeria. It is generally agreed that during General Babangidasregime corruption not only reached majestic high level rate but besides became instutionalised. For instance, leaders who were open guilty by tribunals in the previous regimes of Murtala Mohammed and Mohammadu Buharu would later find their way back into the existence life recovering their seized properties allegedly acquired through corrupt means. Maduagwu (cited in Gboyega, 1996, p.5) observes that that not only did Babangida regime entrench corruption when he pardoned corrupt government officials convicted in the previous regimes and allowed them to reclaim their seized properties, but as well as officially sanctioned corruption in the country, making it difficult to get into the only potent measures, long prison terms and seizure of illegally acquired wealth for fighting corruption in Nigeria in the future. The successive regimes later Babangida did little to stop corruption (Balouga, 2009). General Sani Abacha in just less than 4 months had ousted the interim government furthering the corruption menace and stagnating the socio-economic growth. The Abacha regime saw corruption reached its peak with plunder of national resources. The International total for plus Recovery (2009) estimated that the Abacha family alone took up to US$ 4 billion from the public coffers. Salawu (2010) observes that the countrys populace is still marred with abject poverty, to the extent that it is not only being categorised amongst the worlds poorest nations but also graces the worlds most u nequal countries list. Studies have estimated that about 70 percent of Nigerias population lives below poverty line, generally due to inequitable distribution of the national resources such as oil revenue limited access to basic amenities and social serve such as healthcare (Salawu, 2010).Chapter 3 Research methodology and conceptionThe queryer proposes to use qualitative question method to increase the misgiving of the attitudes, motivation and other non-numerical information. The study go out seek to investigate these phenomena use structured and semi-structured questionnaires, interviews and observation. According to Panneerselvam (2004), qualitative approach to search is the most get research method when studying issues that require in-depth understanding of issues. Panneerselvam (2004) advises that research workers intending to study social issues such as corruption and governance should immerse themselves into the culture of the society and experience what is in th e system. Qualitative research allows the detective to practice the compulsory flexibility, thus the ability to amend the emerging sub-questions as they become more familiar with the people, culture and system construct (Panneerselvam, 2004, p.158). Qualitative research methods help researchers to collect non-numerical responses from respondents using less-structured research instruments such as interviews, observation and ethnography. ethnography uses fieldwork to provide a descriptive study of human society and presents the results as an organized whole that is greater than the sum of its parts. It is founded on the principle that a systems individual properties cannot always be accurately dumb independent of each other. Qualitative research is thus based on relatively small sample sizes and may evoke inherent challenges when big sample sizes are needed.In-depth Case studyThis research will also adopt a field study as a research methodology. The case studies will focus on Ge neral Babangidas regime and Obasanjos reign and draw any comparison and similarities in terms of socio-economic development. Case study as a research method is best-selling(predicate) due to its ability to draw inspiration from the empirical curiosity and practicality (Stake, 1998). Although the researcher maybe interested in a wider question of socio-economic development of Nigeria, the case study will allow the researcher to specifically focus on issues of oil resource management, corruption, and leadership ideals. Case study is an important research method because it is able to combine other research strategies, hence the suit why it is often referred to as a meta-method (Stake, 1998). Gillham (2001) argues that a case study should not be viewed as more important than other research methodologies but should be seen as more suited for practice-oriented fields. That is, the ability of the researcher to act within a professional practice is dependent on the knowledge of a repertoi re of cases.3.1 Scope of the studyThis research will focus on oil resource management and its impact on socio-economic development in Nigeria. The focus will draw similarities and contrast between General Babangidas regime (1985-1993) and Olusegun Obasanjo (1999-2007).ReferencesBalouga, J. (2009). The Niger Delta Defusing the Time Bomb. International affiliation for Energy Economies 1 (3), 8-11. Gboyega, A. (1996). Corruption and Democratization in Nigeria. Ibadan Agba Areo Publishers. International Centre for Asset Recovery. (2009, September). Sani Abacha. Retrieved on 25 August, 2014 from http//www.assetrecovery.org/ Gillham, B. (2001). Case Study Research Methods. 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