ABSTRACT
This study centre’s on the impact of oil industry in the Economic Development of Nigeria. In investing the above data were obtained through questionnaires administration method. The mean analysis method was used to analyzed the responses, elated from respondents and meaningful conclusion drawn from it, it was discovered that factors like the oil industry serves as the government revenue by paying tax, granting loan to farmers to improve agriculture, creating employment opportunity, providing social amenities are some of the impact of the oil industry in order to improve the Economic Development of Nigeria.
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
Background of the Study
Statement of Problems
Objectives of the study
Significance of the study
Research Question
Delimitation of Study
Limitation of the Study
Definition of Term
CHAPTER II: REVIEW OF THE RELATED LITERATURE
2.1 History of Shell in Nigeria
2.2 History of Government Participation in the Oil Industry
2.3 Oil and the Nigeria Economy (Government Expenditure)
2.4 Agriculture Sector
2.5 Government Revenue
2.6 Summary of literature Review
CHAPTER III: RESEARCH METHODS
3.1 Research Design
3.2 Area of Study
3.3 Population of the Study
3.4 Sample and Sampling Procedures
3.5 Instrument of Data Collections
3.6 validation of the instrument
3.7 Reliability of the Data
3.8 Method of Data Analysis
CHAPTER IV: DATA ANALYSIS AND RESULT
4.1 Research Question 1
4.2 Research Question 2
4.3 Research Question 3
4.4 Summary of Findings
CHAPTER V: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary
5.2 Conclusion
5.3 Recommendations
5.4 Suggestion for further Students
REFERENCES
APPENDIX
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Oil is said to be a mixture of organic chemical derived mainly from the remains of microscopic plants and animal that lives in sees millions years ago.
Special condition and great length of times were needed for these remains to undergo complex chemical changes to for oil. These are sometimes concentrated in accumulations which man can detect and exploit.
Oil exploitation began more than a hundred years ago, when drilling was carried out near oil seeps which indicated that oil lay below the surface. Today, much more sophisticated techniques are employed such as seismic surveying and satellite imaging, powerful computers assist geologist in interpreting their finding. At the end of the day however, only the drill can determine whether or not oil lies blow the ground.
Nigeria which has among the world leading producers of palm oil for over two centuries has suddenly become one of the nations of the world with an average production of 2.3millions of barrels per day.
Nigeria’s oil industry has an interesting element in common with the country’s once celebrating palm oil industry. The palm oil trade was a crucial factors influencing the British to maintain and later Amex the territory (The oil Rivers protectorates) in the later party of the 19th century, at the peak of the European scramble for Africa. This is the same location that today habours most of the Nigeria oil exploitation. The oil industry in Nigeria is one of the leading sectors of the economy. It has risen to position of prominence and has become the pivot of the Nigerian economy since its inception in 1952s. However, after two decade of the oil boom, the industrialization of the economy has remained a mirage.
Nigeria hitherto was on agriculture producing economy in the past the export of the economy consisted mainly of agricultural products such as cocoa, rubber and groundnut etc. the picture has changed dramatically and lilted towards the oil industry while other sectors of the economy including agriculture have contained o lag behind. Little wonder then that the country have contained import food substantially which is ironical in view of the fact that agricultural is still the mainstay of the economy employing about seventy (70) percent of the population.