At the moment oil is trading at $136.61 a barrel. From the 80's to 2003, oil was trading at less than $25 a barrel. This year, the price of oil has increased sharply from $100 a barrel on 2 January to a peak of $139.89 on June 16th 2008 before settling at $136.61 today (so far anyway). I don't know about Nigeria, but here in the west there is a lot of talk by consumers about cleaner, cheaper and renewable energy. I am of the belief that in the next ten years (unless there's some kind of miracle), automobile and jet engine manufacturers would have found a cheaper, more efficient and more reliable way to power their automobiles thus reducing dependence on foreign oil from countries like Nigeria. Currently in Nigeria, oil provides 20% of our GDP, 95%(!!!!!!!) of foreign exchange earnings, and about 80%(!!!!!!!) of budgetary revenues. My point is this, with nothing to fall back on in the event of a crash in the oil industry, isn't it time our government tried to diversify our economy. I think in the next ten years, the government should try to reduce our foreign exchange earnings frotm oil to about 40% of the total and encourage more exporting of cash crops like we did in the past. Even if the oil sector doesn't come to a halt, we still stand to gain from a more robust and diversified economy. Another thing I feel needs to be done if the Niger Delta crisis is resolved and we still have relative political stability would be to try to develop our manufacturing sector by providing training and apprenticeships to Nigerians, if we can do this we would become a destination for outsourced production lines which would further boost our economy. Do you thing all this will be possible or is Nigeria doomed. I'm not an economist, I'm an undergraduate mechanical engineering student so I may be speaking complete nonsense but I hope I'm not.