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NEGATIVE CONTRIBUTIONS OF PETROLEUM TO THE NIGERIAN ECONOMY — Economics Keypoint

NEGATIVE CONTRIBUTIONS OF PETROLEUM TO THE NIGERIAN ECONOMY

  1. Causes pollution and all spillage that has a dangerous effect on our lands, water and air.
  2. Has led to negligence & agricultural development that was the main stay of our economy before the advent of oil.
  3. Causes over-crowdedness and congestion of people in the oil producing areas E.g. Port-Harcourt. 
  4. Causes revenue allocation problems.
  5. Has led to over-reliance on petroleum product thereby causing production negligence of other export goods.

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