The changing dynamics of Nigeria’s petroleum and politics

Abstract

Summary This debate examines the changing dynamics of the Nigerian economy and politics. It discusses the consequences of the downward trend of petroleum revenues and new energy technologies in the transport sector and the impact on Nigeria’s political and institutional structures in the ‘post-oil economy’. It argues that although the reductions in oil revenues due to internal and global factors have led to radical debates on political restructuring, the post-oil transitions are more likely to be chaotic than orderly. There seems to be only a small hope that the reactionary ruling class will willingly withdraw from influencing the national economy while the oil economy continues, even in a reduced capacity.