Impact of COVID-19 on Oil and Gas Sector in Nigeria: A Condition for Diversification of Economic Resources

A plethora number of literature advocates for economic diversification in Nigeria order to address its socio-economic challenges. The advent the COVID-19 pandemic has exemplified this viewpoint even further, as it had a severe impact on many parts Nigerian economy while federal government scrambles revenue fulfill national expenses. However, observation reveals that little attention is paid influence oil and gas sector, despite necessity diversify resources human capital development. purpose research investigate sector. Problems are recognized solutions proposed through textual analysis literature. According research, negative business due Nigeria's overreliance key source revenue, among other issues. As result, study emphasized need importance diversifying nation's by focusing more sectors such SMEs aided with protection promotion, well agricultural which incorporates technology scientific input driving force improvement. If adopted, will numerous difficulties poverty, affects majority inhabitants, unemployment, mounting foreign debt, massive importation products services into country lack diversification. report, should invest extensively small medium-sized firms (SMEs) investment overcome challenges caused COVID-19's detrimental economy. Doi: 10.28991/ESJ-2023-SPER-019 Full Text: PDF