CHAPTER
ONE
INTRODUCTION
1.1 Background to the study
The
oil and gas industry in Nigeria is the largest industry and main generator of
GNP in the West African nation which is also the continent most populous. Since
the British discovered oil in the Niger Delta in the late 1950s, the oil and
gas industry has been marred by political and economic strife largely due to a
long instinct of corrupt military regimes and complicity of multinational
corporations notably Royal Dutch Shell. Despite this, it has not until the
early 1990s that the situation was given international attention, particularly
following the murder of playwright and activist Ken Saro-Wiwa by the Nigerian
provoking the immediate suspension of Nigeria from the Common Wealth of
nations. Nigeria is identified by the international community and the firms in
operation there as a major concern with regards to human rights and
environmental degradation (Aina, 1991).
Oil and gas production in Nigeria has
been mixed by bag of fortune and misfortune of blessings and curses, depending
on who is feeling that effect. For the country, it has been a large fortune. It
is the source of her wealth, accounting for about 90% of her foreign exchange
earnings; it is the source from which governments at the federal, state and
local levels substantially fund their developmental programmes, a source of employment.
Most desired transfer of technology was to extent been achieved especially in
the areas of exploration and production, provision of internal energy
requirement, increased income per capital (Ekpo, 2004). Nigerians membership of
such important bodies as the World Petroleum Congress (WPC), Organisation of
Petroleum Exporting Countries (OPEC) and African Petroleum Producers
Association (APPA) has raised the country's profile internationally.
In other words, that Nigeria is a force
to reckon with in the country of nations is arguably attributable to her being
an oil producing country (Adams, 1999). For the oil bearing communities in the
Niger Delta, however, oil has been more of a curse than a blessing.
In communities where oil exploration and
production are carried out on shore, deforestation, erosion and destroyed farm
lands are the main signposts for this gift of nature. The Nigerian Content
Policy initiated by the Obasanjo’s administration to help develop local
capacity building in the Nigeria oil and gas sector with a view to ensuring
that Nigeria participate actively in the operations in the sector.
In the early 1990s where democratic
government initiated a series of a market oriented policy reforms to integrate
the economy towards globalization and economic growth. A remarkable progress in
terms of growth, investment and employment has been achieved. It is in view of
this that the researcher is writing on the “implication of oil and gas
accounting on the economy development of Nigeria in Niger Delta”.
1.2 Statement of the problem
Since
the introduction of oil and gas exploration in Nigeria in the place of
agricultural sector, the problem surrounding this sector has been on how the
account of……
NOT COMPLETE. PLEASE PAY FOR
THE COMPLETE VERSION
THE COMPLETE PROJECT IS
CHAPTER 1-5 #4,000 ONLY
PAYMENT
PROCEDURE;
BANK: FIRST BANK
ACCOUNT
NAME: EGBE JOHN EDOGI
ACCOUNT
NO: 3034851408
GTBANK
ACCOUNT NAME: EGBE JOHN EDOGI
ACCOUNT NO: 0122005571
PLEASE AFTER PAYMENT
SEND THE TELLER NUMBER AND YOUR NAME THE WAY IT APPEAR IN THE TELLER TO ANY OF
THE FOLLOWING PHONE NUMBER:
08037940241
08183133884
No comments:
Post a Comment