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The dynamics of oil politics and prospects of the housing sector in Nigeria

Oil (Petroleum) constitutes over 75% of Nigeria source of income. The dynamics of oil politics in Nigerian state has assumed a dangerous dimension causing so much tension arising from wrong policies formulation and implementation. It has been as chaotic as ever. There is a poor level of environmental development generally in the country. This paper opined that since one of the United Nations' indicators of measuring the level of development in a nation is the quality of life of the citizenry, Nigeria ranks low in the comity of nations in this area of life. This paper addressed the effects of the on-going instability in the oil sector, on housing delivery in Nigeria and the way out for the federal government of Nigeria. The paper looks at the ongoing (2012) reforms in the oil sector vis-a-vis the new financial policies as well as housing needs for Nigeria. The paper suggested that the surpluses arising from the oil subsidy removal could be channelled into ameliorating the gross 16 million housing deficit in Nigeria The paper concluded that the government should focus on social housing scheme as a way of ameliorating the on-going impasse.