The aim of the article is to verify the validity of resource curse in the case of Nigeria at the beginning of the new millennium. The theoretical part defines the role of natural resources as a form of capital, the symptoms of the alleged curse and transmission channels of resource curse. The practical part verifies several hypotheses established by comparing research papers on impacts of natural resources. The validity of the Prebisch-Singer hypothesis, Dutch disease symptoms and a negative impact on political institutions (inclination toward authoritarianism, high level of corruption, high government spending and low efficiency of economic and political decision-making) are verified. Results confirm most of the manifestations of the resource curse.
Keywords: resource curse, natural capital, economic growth, Prebisch-Singer hypothesis, Dutch disease