Nigeria’s Oil Rent can still Count: Lessons from Kuwait

Olusegun Barnabas Obasaju; Babatunde Sunday Adekunle; David Eseosa Obadiaru

doi:doi:10.11648/j.ijefm.20140202.16

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Nigeria’s Oil Rent can still Count: Lessons from Kuwait

Olusegun Barnabas Obasaju, Babatunde Sunday Adekunle, David Eseosa Obadiaru

Published in International Journal of Economics, Finance and Management Sciences (Volume 2, Issue 2)

Received: 26 December 2013 Accepted: Published: 30 March 2014

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Abstract

Nigeria and Kuwait were former British colonies, both having oil-based economies with exports of over 2.4 million barrels of oil per day and oil exports accounting for a clear majority of their export earnings. But funnily enough, the standards of living of the citizens of these two are poles apart as Kuwait’s oil rent has been successfully used to benefit its citizens while Nigerians still grapple with low living standards in the midst of plenty. This study employs a comparative approach in assessing the nexus between oil rents and living standards for both countries and seeks to draw the attention of Nigeria to the oil rent distribution channels of Kuwait. The conclusion of the study is that Nigeria can still change the fortunes of her citizenry by tapping into the wealth of knowledge from Kuwait’s oil rent distribution channels.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 2, Issue 2)
DOI	10.11648/j.ijefm.20140202.16
Page(s)	153-158
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Nigeria, Kuwait, Comparative, Channel of Distribution, Oil rent, Living Standards

References

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APA Style

Olusegun Barnabas Obasaju, Babatunde Sunday Adekunle, David Eseosa Obadiaru. (2014). Nigeria’s Oil Rent can still Count: Lessons from Kuwait. International Journal of Economics, Finance and Management Sciences, 2(2), 153-158. https://doi.org/10.11648/j.ijefm.20140202.16

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ACS Style

Olusegun Barnabas Obasaju; Babatunde Sunday Adekunle; David Eseosa Obadiaru. Nigeria’s Oil Rent can still Count: Lessons from Kuwait. Int. J. Econ. Finance Manag. Sci. 2014, 2(2), 153-158. doi: 10.11648/j.ijefm.20140202.16

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AMA Style

Olusegun Barnabas Obasaju, Babatunde Sunday Adekunle, David Eseosa Obadiaru. Nigeria’s Oil Rent can still Count: Lessons from Kuwait. Int J Econ Finance Manag Sci. 2014;2(2):153-158. doi: 10.11648/j.ijefm.20140202.16

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@article{10.11648/j.ijefm.20140202.16,
  author = {Olusegun Barnabas Obasaju and Babatunde Sunday Adekunle and David Eseosa Obadiaru},
  title = {Nigeria’s Oil Rent can still Count: Lessons from Kuwait},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {2},
  number = {2},
  pages = {153-158},
  doi = {10.11648/j.ijefm.20140202.16},
  url = {https://doi.org/10.11648/j.ijefm.20140202.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20140202.16},
  abstract = {Nigeria and Kuwait were former British colonies, both having oil-based economies with exports of over 2.4 million barrels of oil per day and oil exports accounting for a clear majority of their export earnings. But funnily enough, the standards of living of the citizens of these two are poles apart as Kuwait’s oil rent has been successfully used to benefit its citizens while Nigerians still grapple with low living standards in the midst of plenty. This study employs a comparative approach in assessing the nexus between oil rents and living standards for both countries and seeks to draw the attention of Nigeria to the oil rent distribution channels of Kuwait. The conclusion of the study is that Nigeria can still change the fortunes of her citizenry by tapping into the wealth of knowledge from Kuwait’s oil rent distribution channels.},
 year = {2014}
}

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TY  - JOUR
T1  - Nigeria’s Oil Rent can still Count: Lessons from Kuwait
AU  - Olusegun Barnabas Obasaju
AU  - Babatunde Sunday Adekunle
AU  - David Eseosa Obadiaru
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DO  - 10.11648/j.ijefm.20140202.16
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 153
EP  - 158
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20140202.16
AB  - Nigeria and Kuwait were former British colonies, both having oil-based economies with exports of over 2.4 million barrels of oil per day and oil exports accounting for a clear majority of their export earnings. But funnily enough, the standards of living of the citizens of these two are poles apart as Kuwait’s oil rent has been successfully used to benefit its citizens while Nigerians still grapple with low living standards in the midst of plenty. This study employs a comparative approach in assessing the nexus between oil rents and living standards for both countries and seeks to draw the attention of Nigeria to the oil rent distribution channels of Kuwait. The conclusion of the study is that Nigeria can still change the fortunes of her citizenry by tapping into the wealth of knowledge from Kuwait’s oil rent distribution channels.
VL  - 2
IS  - 2
ER  -

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Author Information

Olusegun Barnabas Obasaju

Department of Economics, College of Business and Social Sciences, Covenant University, Omu-Aran, Nigeria
Babatunde Sunday Adekunle

Department of Economics, College of Business and Social Sciences, Covenant University, Omu-Aran, Nigeria
David Eseosa Obadiaru

Department of Accounting and Finance, Covenant University, Omu-Aran, Nigeria

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Plain Text BibTeX RIS

APA Style

Olusegun Barnabas Obasaju, Babatunde Sunday Adekunle, David Eseosa Obadiaru. (2014). Nigeria’s Oil Rent can still Count: Lessons from Kuwait. International Journal of Economics, Finance and Management Sciences, 2(2), 153-158. https://doi.org/10.11648/j.ijefm.20140202.16

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ACS Style

Olusegun Barnabas Obasaju; Babatunde Sunday Adekunle; David Eseosa Obadiaru. Nigeria’s Oil Rent can still Count: Lessons from Kuwait. Int. J. Econ. Finance Manag. Sci. 2014, 2(2), 153-158. doi: 10.11648/j.ijefm.20140202.16

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AMA Style

Olusegun Barnabas Obasaju, Babatunde Sunday Adekunle, David Eseosa Obadiaru. Nigeria’s Oil Rent can still Count: Lessons from Kuwait. Int J Econ Finance Manag Sci. 2014;2(2):153-158. doi: 10.11648/j.ijefm.20140202.16

Copy | Download

@article{10.11648/j.ijefm.20140202.16,
  author = {Olusegun Barnabas Obasaju and Babatunde Sunday Adekunle and David Eseosa Obadiaru},
  title = {Nigeria’s Oil Rent can still Count: Lessons from Kuwait},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {2},
  number = {2},
  pages = {153-158},
  doi = {10.11648/j.ijefm.20140202.16},
  url = {https://doi.org/10.11648/j.ijefm.20140202.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20140202.16},
  abstract = {Nigeria and Kuwait were former British colonies, both having oil-based economies with exports of over 2.4 million barrels of oil per day and oil exports accounting for a clear majority of their export earnings. But funnily enough, the standards of living of the citizens of these two are poles apart as Kuwait’s oil rent has been successfully used to benefit its citizens while Nigerians still grapple with low living standards in the midst of plenty. This study employs a comparative approach in assessing the nexus between oil rents and living standards for both countries and seeks to draw the attention of Nigeria to the oil rent distribution channels of Kuwait. The conclusion of the study is that Nigeria can still change the fortunes of her citizenry by tapping into the wealth of knowledge from Kuwait’s oil rent distribution channels.},
 year = {2014}
}

Copy | Download

TY  - JOUR
T1  - Nigeria’s Oil Rent can still Count: Lessons from Kuwait
AU  - Olusegun Barnabas Obasaju
AU  - Babatunde Sunday Adekunle
AU  - David Eseosa Obadiaru
Y1  - 2014/03/30
PY  - 2014
N1  - https://doi.org/10.11648/j.ijefm.20140202.16
DO  - 10.11648/j.ijefm.20140202.16
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 153
EP  - 158
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20140202.16
AB  - Nigeria and Kuwait were former British colonies, both having oil-based economies with exports of over 2.4 million barrels of oil per day and oil exports accounting for a clear majority of their export earnings. But funnily enough, the standards of living of the citizens of these two are poles apart as Kuwait’s oil rent has been successfully used to benefit its citizens while Nigerians still grapple with low living standards in the midst of plenty. This study employs a comparative approach in assessing the nexus between oil rents and living standards for both countries and seeks to draw the attention of Nigeria to the oil rent distribution channels of Kuwait. The conclusion of the study is that Nigeria can still change the fortunes of her citizenry by tapping into the wealth of knowledge from Kuwait’s oil rent distribution channels.
VL  - 2
IS  - 2
ER  -

Copy | Download