ECOSOC (intermediate)


Defne Albaş

Cite as

Position Paper Committee: United Nations Economic and Security Council (ECOSOC) Topic: Ensuring Equal Access to Scare Resources, Eradicating Poverty and Promoting Prosperity in a Changing World Country: Nigeria

Nigeria is a country located in the south east of west Africa. It is the seventh most populous country in the world and has a population of 192 million people. Nigeria's Capital city is Abuja and largest city is Lagos. Spoken languages in Nigeria are English, Hausa and Igbo. In 1999 Nigeria's transition to civilian government was completed. Country's economy is based on petrol sources. Fuel scarcity is one of the problems that the Nigerian government has not been able to solve and keeps recurring. "Fuel scarcity in Nigeria can be unavoidable ad foreign banks stopped providing the credits of facilities of petroleum imports. Therefore, fuel demands will not be meet in the short term, and the importers of petroleum products can already count the decline in revenues. The foreign banks suspended long and short term credits for Nigeria. The fuel scarcity in Nigeria can now happen due to the failure of markets to meet the obligations in the foreign currency. The estimated obligations are around $950 million." ( Ibenegbu,...