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“ L e g a l i z e I t ”
Marijuana - Nigeria’s New Crude Oil?2
25.523
4.63
0.50
5
10
15
20
25
30
Oil Diaspora LNG Cocoa
Nigeria's Exports & Receipts ($’bn)
Oil = 48.1%
Diaspora = 43.3%
LNG = 8.73%
Cocoa = 1%
Global Legal Marijuana Market
Market Size = $22bn (will reach $73bn in 2027)
Structure = Oligopoly (many buyers, few sellers)
Uses: Legitimate & Leisure
Marijuana – A Multipurpose Drug5
Medical treatment:
Chronic pain – 71%Mental disorder – 29%
Leisure driven
Leading to addiction in most cases
History of Prohibition6
Whiskey
Gambling
Narcotics
Prostitution
Loan sharking
⁼
•Higher premium
•Organized crime
supported by Cosa Nostra
•Encourages violence
(Noriega of Panama)
Pros & Cons of Marijuana LegalizationPros
Medical benefits
Illegal trade encourages
crime and violence Cons
The addiction problem:
Abusive use
Regular use can lead to the
use of harder drugs such as
heroin