CONCLUSION

Nigeria is a classic example of a resource curse with available data at hand.

Even with the volume of money Nigeria has generated from oil exports since independence, the country has failed to achieve long-term economic development because of its dependency on oil, and the economy has stagnated. Another essential factor in Nigeria's progress is the quality of its institutional framework, which directly impacts economic growth. There is also a strong link between Nigeria's degree of corruption and its ability to expand its economy in a positive direction.

Therefore, I will advocate for Nigeria to resolve its oil dependency by focusing on diversification and industrialization, upgrading its institutions, and ensuring more transparency and accountability in governance.