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Nigeria – United States Economic Relations and the Development of the Oil Sector
Abstract
This study examines Nigeria – United States economic relations from 1999-2018. It was noted
that since the Nigeria’s economic relation with United States, the development stride which
Nigeria state so desired in the oil sector did not yield any tangible result within the period under
study viz opening of new refineries and effective turn around maintenance of the refineries. The
specific objectives of this study are: 1. To examine whether Nigeria-United States economic
relations has led to opening of new indigenous refineries in Nigeria 2.To determine whether
Nigeria–United States economic relations improved the maintenance of refineries in Nigeria
within the periods under study 3.To ascertain if Nigeria and United States economic relations
had advanced technological transfer in the oil sector industry in Nigeria. The data employed for
the study were collected from documentary sources while content analysis was implored for data
analysis. The theoretical framework that anchored this study is the Rentier State Theory (RST).
After a critical analysis, the following findings were made: 1. it was discovered that NigeriaUnited States economic relations did not lead to opening of new indigenous refinery 2. The crude
oil export to the United States did not improve the maintenance of oil refinery in Nigeria 3. The
Nigeria-United States economic relations had not advanced technological transfer in the oil
sector industry in Nigeria. In line with the findings the researcher made the following
recommendations: 1.That Nigeria government should make a policy that will bring a paradigm
shift from net import to net export 2. Nigerian government should make it policy easier as to
accommodate and encourage private sector participation in the refining of petroleum products 3.
Nigeria government should partner with other countries of the world outside United States that
are willing to develop her indigenous technological skills.
