How has Nigeria’s dependence on oil helped or hurt the...

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2025-07-21 03:57:33 - Translate -

How has Nigeria’s dependence on oil helped or hurt the country’s long-term growth?

Nigeria's heavy dependence on oil has been a double-edged sword for its long-term growth, offering both short-term benefits and significant long-term drawbacks. How Oil Dependence Has "Helped" (Short-Term Benefits): Significant Revenue Generation: Oil exports have been the primary source of foreign exchange earnings (often over 90%) and government revenue (around 70-80%...

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