n CPEEL Monograph Series - Overview

Volume 2, Issue 3
  • ISSN :


The Nigerian energy sector is crucial to the Nigerian economy. Its importance to the national economy and the lives of ordinary Nigerians has continued to increase steadily since petroleum was discovered in 1956. For a long period, the fortune of Nigeria has correlated quite significantly with the fortune of oil. Until recently, the oil sector accounts for over a quarter of the Gross Domestic Product, 70 per cent of Federal Government revenue and over 95 per cent of the country's export earnings.

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