Oil Exports, Socio-economic Underdevelopment and United States' Trade Relations with Nigeria
Oil Exports, Socio-economic Underdevelopment and United States' Trade Relations with Nigeria

Summary/Abstract: Trade has continually played a prominent role in the political economy of United States(U.S.)–Nigeria’s relations. Conversely, extant literature is inconclusive on the role of Nigeria’s oil exports to the U.S. in the socio-economic underdevelopment that is Nigeria. This study discussed the trajectory of the nexus between oil exports, socio-economic underdevelopment and United States’interactions with Nigeria. Data is obtained from primary and secondary sources. Using exploratory research method the resource curse thesis is adopted for the descriptive study. The results of the study indicate that U.S. excessive demand for energy prompted Nigeria’s shift of attention to crude oil export.It establishes that the abandonment of the production and exportation of all other sources of foreign exchange for crude oil export to the U.S. is responsible for Nigeria’s inconsolable poverty. To reverse the socio-economic palaver which bedevils Nigeria the study recommends inward looking diversification development planning.

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