Contending Issues in the Niger Delta Crisis of Nigeria - Journal of ...

Chapter II: The Niger Delta Crisis: The Political Economy of Fossil Fuels in
Nigeria
international market. The implication of this, though Nigeria protested
through its missions in the US against the Washington decision, is
the perpetuation of economic dislocation as Nigeria failed to address
economic development through holistic approach. The Gulf of Guinea
(GoG) Security initiative from the US on which Nigeria relies on for the
security of the oil rigs and the total protection of oil multinationals are
now to be handled by the Nigerian government. The threat of terrorist
attack by the Islamic fundamentalists and the bid for Nigeria to rejoin
the OIC are contradictions which the militants could cash in on. The
need to diversify the economic base of Nigeria with introduction of
some degree of protectionism will elevate the economy of Nigeria.
Though, it is contrary to the tenets of the WTO. In achieving this,
there is a need to bring back economic diplomacy as introduced by
the Babangida/Ike Nwachukwu government in 1986. The present
diplomacy of consequences is nothing but an acceptance of diplomatic
failure by the Yar’ Adua’s government.
References
Akinsanya, Adeoye. 1980. The Expropriation of Multinational Properties in the Third
World. New York: Praeger.
Fawole, W. Alade. 2003. Nigeria’s External Relations and Foreign Policy Under
Military Rule (1966-1999). Ile-Ife: Obafemi Awolowo University Press.
Garba, J. N. 1987. Diplomatic Soldiering: Nigerian Foreign Policy, 1975-1979.
Ibadan: Spectrum.
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