Organisation of Petroleum Exporting Countries (OPEC): A Chronicle of Nigeria’s Key Contributions to Its Goals and Aspirations

Abstract

This study dwells extensively on Nigeria’s contributions to the attainment of the goals and aspirations of the Organisation of Petroleum Exporting Countries (OPEC) from 1971 when it became a member of the organisation till date. It relies on secondary sources of data collection obtained from textbooks, newspaper, articles, journals as well as the organisation’s website. It also utilizes Neo-liberalism as a framework for analysis. The findings which are ascertained via content analysis show that OPEC exists fundamentally to coordinate and unify petroleum policies among member countries, in order to secure fair and stable prices for petroleum producers; ensure an efficient economic and regular supply of petroleum to consuming nations; and a return on capital to investors in the industry. And that Nigeria has contributed immensely towards meeting these goals and aspirations of the organisation either through the acceptance of the appointments of her citizens into important positions in the Organisation, including that of the Secretary General, OPEC Presidency or as host nation where lingering issues are resolved. Nigeria has also been a faithful, committed and loyal member, keeping to the rules of the organisation and assisting its planning endeavours with regular supply of up-to-date data on her petroleum sector. All these and many more have earned her great respect among member countries and beyond as her citizens are being honoured across the world for sterling performances. Finally, the study also makes some recommendations, among which are as follows: Nigeria’s contributions to the attainment of OPEC goals have been quite huge. Effort should, therefore, be intensified towards consolidating on these feats; OPEC member countries have demonstrated over and over their confidence and trust in Nigeria’s leadership by entrusting her citizens with key leadership positions, including that of Secretary General as currently occupies by a Nigerian. This gesture should be sustained as a way of recognition for her tremendous positive role in the organisation; Data is essential for effective planning. Nigeria has shown good example as one that wants OPEC to plan effectively by submitting its data timely. This effort should be emulated by other member countries to enhance appropriate planning in the organisation, etcetera.

Keywords: Exporting, Goals, Nigeria’s contributions, OPEC, Organization, Petroleum


Article Review Status: Published

Pages: 13-29 (Download PDF)

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