Multinational Corporations as Mechanisms of Imperialism in the Third World Countries: A Study of Oil Multinationals in Nigeria

Ember Yange
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Ember Yange: Department of Political Science and International Relations Nile University of Nigeria, Abuja

International Journal of Research and Scientific Innovation, 2024, vol. 11, issue 7, 876-885

Abstract: This study investigates the role of multinational oil corporations in perpetuating neo-colonialism in Nigeria. The research utilized qualitative methodology, employing secondary data sources to examine the phenomenon under investigation. Drawing on a structuralist and Marxist theoretical framework, the research focuses on how these corporations, specifically Shell, Chevron, Total, Eni, and ExxonMobil, operate as instruments of exploitation in developing countries. The authors argue that despite generating significant revenue from oil extraction – a staggering 45.6 billion in 2022 – the Niger Delta region, where these operations are concentrated, remains underdeveloped and marginalized. This stark contrast highlights the exploitative nature of these corporations, who reap immense profits while leaving behind environmental degradation and social inequity. The study concludes that the relationship between oil multinationals and Nigeria mirrors broader patterns of neo-colonialism, where economic power translates into political influence, perpetuating a cycle of dependency and underdevelopment. To mitigate the negative consequences of multinational corporations operating in the developing world, the study recommend strengthening government oversight and rigorously enforcing sustainable practices.

Date: 2024
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