Nigeria as a Country is one of the most endowed Countries, in terms of natural resources. Some of the natural resources includes: Natural gas, Coal, Iron, Limestone, Crude Oil, Lead etc. These Natural resources mentioned above are massively sort after by various international communities, such as other countries of the world, to mention a few, rich and energy hungry countries such as the United States of America, England, China, Germany, Russia, Japan and other regional countries like South Africa and the rest. Aside mentioning countries, multinational companies such as Shell, AGIP, Chevron, Mobil, Exxon, Total and also domestic companies owned by the very citizens of Nigeria, heavily rely on the natural resources of this great Country. Basically, I will be streamlining my discussion on oil, its discovery, exploration and its effect on the Nigerian economy.