Petroleum is a naturally occurring liquid found beneath the Earth's surface that is used as a source of energy and fuel. Nigeria's economy is heavily dependent on petroleum, as the country is one of the largest oil producers in Africa and oil exports make up a significant portion of the country's GDP. The petroleum industry in Nigeria plays a crucial role in driving economic growth, generating revenue for the government, and providing employment opportunities for the population. However, the over-reliance on oil has also made the Nigerian economy vulnerable to fluctuations in global oil prices and has hindered the development of other sectors.