The aim of this paper was to examine the possible ways of using Artificial Intelligence (AI) tools to curb the effects of resource curse on Nigerian economy, and ensuring accountability, transparency and efficiency in the management of Nigeria’s natural resource revenues. The study examined the resource curse theory and adopted Dutch disease theory whose features are equivalent to that of Nigeria, such as, appreciation of the exchange rate, decline of non-oil sector, and over dependence on the oil and gas sector at the expense of agricultural and services sectors. Literature review methodology was used to extract the views and contributions of different authors on the subject matter. The findings of the study revealed that Artificial Intelligence (AI) can be used to curb the effect of resource curse in Nigeria through improved transparency, economic diversification, predictive analytics, and optimized resource allocation. It was further revealed that AI-powered algorithms can be used to reduce waste and improve efficiency in resource extraction and utilization, promote accountability, assist in the monitoring of natural resource sales and resource revenues. The study further revealed that the effect of resource curse in Nigeria are incessant conflicts, especially in the Niger Delta region of Nigeria, economic sabotage on oil facilities, environmental degradation, corruption, over spending by government, widespread hunger and poverty, high rate of inflation, high rate of unemployment and over dependence on oil revenue. But with use of AI-powered techniques, effect of resource curse on Nigerian economy can be minimized. Based on the findings, it was recommended that Nigeria should leverage on the benefits of AI-powered techniques to promote accountability, transparency, efficiency, and also embrace diversification for sustainable economic growth and development, while ultimately curbing the resource curse in the country.
Table of Contents
- Abstract
- Introduction
- Statement of the Problem
- Literature Review
Objectives and Key Themes
The objective of this paper is to explore the potential of Artificial Intelligence (AI) in mitigating the negative effects of the resource curse on the Nigerian economy, emphasizing accountability, transparency, and efficient management of natural resource revenues. The study investigates how AI can address challenges stemming from the resource curse, such as economic instability and underdevelopment.
- The Resource Curse in Nigeria
- The Role of Artificial Intelligence in Resource Management
- Economic Diversification and Sustainable Growth
- Transparency and Accountability in Resource Revenue Management
- AI-powered solutions for improved efficiency and reduced waste
Chapter Summaries
Abstract: This abstract summarizes the paper's aim to explore the use of AI to curb the effects of the resource curse on Nigeria's economy. It highlights the use of the Dutch disease theory as a framework for understanding the Nigerian context, and it previews the findings that AI can improve transparency, diversification, resource allocation, and accountability in resource management. The abstract also mentions the negative effects of the resource curse in Nigeria, including conflicts, environmental degradation, and economic instability, and concludes by recommending that Nigeria leverage AI to promote sustainable economic growth.
Introduction: This chapter introduces the growing use of AI globally and its potential applications in addressing complex issues like the resource curse. It highlights Nigeria's struggle with poverty, corruption, and inequality despite its oil wealth and positions AI as a potential solution for sustainable economic growth by improving the management of natural resources. The chapter underscores the importance of natural resources in providing essential services but criticizes poor resource management leading to negative consequences. Specific examples of negative impacts in the Niger Delta region, such as land degradation and pollution, are provided. The chapter also defines the resource curse and its paradoxical nature, contrasting resource-rich nations with slower economic growth compared to their resource-poor counterparts, using examples like Angola and the Democratic Republic of Congo to illustrate the concept.
Statement of the Problem: This section, while brief based on the provided text, likely details the specific challenges related to the resource curse in Nigeria that the study aims to address. It would focus on the negative consequences of mismanagement of natural resources and the need for innovative solutions such as AI to improve the situation. Further detail is needed from the full text to fully elaborate on this chapter's content.
Literature Review: This chapter synthesizes existing research on artificial intelligence, the resource curse theory, the Dutch disease theory, natural resources, and the Nigerian economy. It specifically mentions Zubikova's (2017) work, which examined the resource curse in Nigeria at the beginning of the new millennium and explored the role of natural resources as capital, as well as the validity of the Prebish-Singer hypothesis and Dutch disease theory. The chapter would likely include other relevant studies and theories related to these topics to provide a comprehensive background for the study's argument.
Keywords
Artificial Intelligence (AI), Resource Curse, Nigerian Economy, Natural Resources, Economic Diversification, Transparency, Accountability, Sustainable Development, Dutch Disease, Predictive Analytics, Resource Allocation.
Frequently asked questions
What is the "Language Preview" document about?
The "Language Preview" document provides a structured overview of a research paper. It includes the title, table of contents, objectives and key themes, chapter summaries, and key words.
What is the main objective of the research paper being previewed?
The primary objective of the research paper is to explore the potential of Artificial Intelligence (AI) in mitigating the negative effects of the resource curse on the Nigerian economy. It emphasizes accountability, transparency, and efficient management of natural resource revenues.
What are the key themes addressed in the research paper?
The key themes include: The Resource Curse in Nigeria, The Role of Artificial Intelligence in Resource Management, Economic Diversification and Sustainable Growth, Transparency and Accountability in Resource Revenue Management, and AI-powered solutions for improved efficiency and reduced waste.
Can you summarize the abstract of the research paper?
The abstract summarizes the paper's aim to explore the use of AI to curb the effects of the resource curse on Nigeria's economy. It highlights the use of the Dutch disease theory and previews the findings that AI can improve transparency, diversification, resource allocation, and accountability in resource management. It also mentions the negative effects of the resource curse and recommends leveraging AI for sustainable economic growth.
What does the introduction cover?
The introduction discusses the growing use of AI globally and its potential applications in addressing complex issues like the resource curse. It highlights Nigeria's struggle with poverty, corruption, and inequality despite its oil wealth, positioning AI as a potential solution. It underscores the importance of natural resources while criticizing poor resource management and giving examples of negative impacts in the Niger Delta region. It also defines the resource curse and its paradoxical nature.
What will the "Statement of the Problem" section likely contain?
The "Statement of the Problem" section details the specific challenges related to the resource curse in Nigeria that the study aims to address, focusing on the negative consequences of mismanagement of natural resources and the need for innovative solutions such as AI.
What kind of information will be included in the "Literature Review"?
The "Literature Review" chapter synthesizes existing research on artificial intelligence, the resource curse theory, the Dutch disease theory, natural resources, and the Nigerian economy. It references Zubikova's (2017) work and will likely include other relevant studies and theories.
What are the keywords associated with this research paper?
The keywords are: Artificial Intelligence (AI), Resource Curse, Nigerian Economy, Natural Resources, Economic Diversification, Transparency, Accountability, Sustainable Development, Dutch Disease, Predictive Analytics, Resource Allocation.
- Quote paper
- Moses Akpan (Author), 2025, The Role of Artificial Intelligence in Curbing the Effects of Resource Curse on Nigerian Economy, Munich, GRIN Verlag, https://www.hausarbeiten.de/document/1588224
