Nigerias Diversification Efforts: Challenges and Opportunities
Nigeria's economy, heavily reliant on oil exports, faces significant challenges. The volatility of global oil prices, dwindling reserves, and climate change necessitate economic diversification. This article examines Nigeria's diversification efforts, challenges, and opportunities. Introduction Nigeria's economy, Africa's largest, has struggled with dependence on oil exports, accounting for approximately 70% of government revenue and 90% of export earnings (OPEC, 2022). The 2020 oil price cra...