AN ASSESSMENT OF THE CONTRIBUTIONS OF THE NIGER DELTA REGION TO THE ECONOMIC DEVELOPMENT OF NIGERIA 1999-2007

ABSTRACT

This study assesses the contributions of the Niger Delta region to the economic development of Nigeria from 1999 to 2007. The Niger Delta region is the oil-rich belt of Nigeria, accounting for over 90% of the country's foreign exchange earnings. Despite its significant oil wealth, the region remains one of the most economically and socially disadvantaged in the country. This study employs a descriptive and analytical approach, using secondary data from various sources, including the books, journals, website, reports, the National Bureau of Statistics, and the Niger Delta Development Commission. The findings reveal that while the Niger Delta region has contributed significantly to Nigeria's economic development, the region itself has benefited little from the oil wealth. The study concluded that the Niger Delta Region contributed greatly to the socioeconomic and national development of Nigeria in the period between 1999 and 2007, while it contributed greatly to Nigeria’s socioeconomic development in terms of human and natural resources, the conflicts in the region emanating from its oil wealth served as an obstruction to national security within the period of study. And That the region’s economic potential is far greater than it has been utilized; therefore, a paradigm shift from the region’s oil wealth and diversification of Nigeria’s economy to other areas such as local industries will bring the region’s economic potential to national bearing.