Nigeria’s 50-Year OPEC Journey
In less than eight weeks from now, the Organisation of Petroleum Exporting Countries (OPEC), will roll out the drums in celebration of its 60th year anniversary. In 50 years of those six decades, the story of Nigeria has been strongly intertwined with that of the oil cartel. Emmanuel Addeh writes that it has been a marriage that has seen both good and bad times, as portrayed by some key Nigerian OPEC participants, who reflected on the history of Nigeria’s involvement in the organisation
On September 14, 1960, the Organisation of Petroleum Exporting Countries (OPEC), an inter-governmental cartel of 13 countries was founded in Baghdad by its first five members, namely Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.