Leveraging Agriculture to Break Nigeria's Oil Curse.

摘要

The term 'oil curse' is used to describe how countries blessed with great natural petroleum wealth seem to have problems translating that blessing into higher performing economies, especially when compared to countries not similarly gifted with this resource wealth. An analysis of the Nigerian economy reveals a textbook case of the oil curse, primarily manifested through 'Dutch Disease,' which has decimated Nigerian agriculture. A means of breaking the oil curse is economic diversification away from oil-related activity. This paper contends that the agricultural sector has the potential to lead this diversification effort. Consequently, it is argued that the Nigerian government should encourage growth and development in this sector by supporting smallholder farmers, increasing productivity, and improving rural infrastructure. This work delves into these three areas, analyzes the importance of each to the rejuvenation of agriculture, and draws conclusions about the most pressing needs the Nigerian government must address. The paper concludes by recommending a more stable policy towards smallholder farmers; a restructuring of the government's fertilizer distribution system to enhance productivity; and an increase in resources devoted to rural roads, the foundation of rural infrastructure.