Nigeria's Internal Petroleum Problems: Perspectives and Choices

Akin Iwayemi

The Energy Journal, 1984, vol. Volume 5, issue Number 4, 45-54

Abstract: As a major oil producer and member of OPEC, Nigeria benefited greatly from the sharp increases in world oil prices during the 1970s. It was especially hard hit by the weakening of oil markets during the past four years, when its oil production had to be cut back sharply and its prices reduced. The impact of these developments, including the replacement of the civilian government by a military regime in December 1983, has been discussed elsewhere. I Less well known abroad is the fact that during this entire period, Nigeria suffered sporadic but severe internal energy supply problems, including shortages of petroleum products and irregular availability of electricity. If past policies are continued, Nigeria's energy problems are likely to become severe enough to jeopardize its position as an oil exporter.

JEL-codes: F0 (search for similar items in EconPapers)
Date: 1984
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