IMD-3-1793 © 2006
Boscheck, Ralf
This case offers a quick cost-effective and political summary of oil exploitation in Nigeria from the 1950s up until the present day. Nigeria started commercially exploiting its oil reserves in the late 1950s; and the very first petroleum tax system of 1959 presented a 50:50 revenue split in between the federal government and global operators. The federal government looked for equity stakes; however did not exercise its choices up until April 1971 partially as a requirement for signing up with OPEC that year; partially in reaction to specific IOCs sponsoring the Biafran war of succession.
Knowing goals: Understanding the linkages in between resource economics; financial advancement and governance issues. Knowing goal: Understanding the linkages in between resource economics; financial advancement and governance issues.
Subjects: Regulations; Energy; Economic Policy
Settings: Nigeria; Oil and gas; Turnover US$ 29;800 million in 2004; 1959 - 2006
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