THE DISCOVERY OF OIL: THE GENESIS OF OUR WOES – BY IYANDA RAUF
One will not be wrong to say that ever since crude oil was discovered and subsequently exported in commercial quantity, the destiny of Nigeria has been tied to it. This is because there is a positive relationship between the price of oil in the global market and the Nigerian economy. When the price soars, we enjoy and, if otherwise, we suffer. This is a very disheartening reality that we have come to accept but why is this so? Let’s go down memory lane a bit. Prior to the discovery of oil and its subsequent exportation, agriculture was the mainstay and driver of the Nigerian economy. One cannot but yearn for the good old days when Nigeria prided itself as the major exporter of cocoa (from the west), palm and rubber (from the east) groundnut ( from the north) and the likes. Major infrastructures that have stood the test of time were built from the proceeds of agriculture. Testimony to this assertion can be found in schools like Obafemi Awolowo University, University of Nigeria, N...