ABSTRACT
Nigeria is the most populous country on the African continent with tremendous vast wealth of oil natural resources that includes oil, mostly located in the southern part of the country, and predominantly in the Niger Delta. The country is not only the largest producer of petroleum but also an oil dependent economy. Earnings from oil, which is host in the Niger Delta, account for over 90 per cent the foreign exchange and over 80 per cent of overall government revenues in Nigeria. The strategic resources available in the Niger Delta has consequently attracted interests from within and outside the country, shaped politics and struggles in the region with concomitant effects. It is against this background that this paper examines the efficacy and impact of oil exploitation on the Niger Delta. The paper adopts the distinctive historical research methodology. The approach is both descriptive and analytical in presentation. Building on the existing literature, the study concludes that the exploitation of oil has had more negative effects than positive ones on the Niger Delta. The paper recommends that both the federal and states governments in the oil rich region as well as the multinational companies needs to be genuinely committed towards the development and transformation of the Niger Delta region of Nigeria as a strategy to ending the conflict in the area.
