摘要
This article discussed the oil industry in Nigeria and its impact on the economy, environment, and the citizens. The black gold （oil） was first discovered in Nigeria after several trials by white explorers in Oloibiri （present day Bayelsa State） in 1956 by Shell D＇Arcy later renamed Shell-BP. By 1958, Nigeria joined the rank ofoil producers, when its first oil field came on stream. It was in the same year that the first shipment of oil from Nigeria occurred. Since then oil became Nigeria＇s primary export with about 95% of its govemment revenue coming from the ＂black gold＂, pushing agriculture and other sources of revenue to the background. The study discovered that the high revenue realised from the black gold especially after the Civil War, was not used by the government to transform Nigeria from a third world to a first world country as was predicted rather heavily mismanaged. The study further discovered that the multinational companies （MNC） responsible for drilling oil in Nigeria are guilty of polluting and degrading the environment via oil spills, thereby exposing the citizens to all kinds＇ health related problems and further poverty. The study concludes with the following： The corruption going on in the region must be tackled head long so that the citizens （the youth especially） will begin to feel the effect of the wealth generated from black gold. The government should also invest more on the education of its citizens to enable development in the country.
