Impediments to Expansion: Why is the Upstream Sector of Nigeria's Petroleum Industry Not Growing?

Abstract

It is often stated by the Nigerian government, that Nigeria is endowed with enormous petroleum deposits and that the country has the potential to become one of the leading oil producing countries of the world. Assuming these assertions to be accurate, why then is Nigeria's upstream petroleum industry not growing, and why are there no signs of achieving it's claimed potential? This article explains the factors contributing to this lack of growth.