Nigeria’s Membership of OPEC and Global Oil Politics

When Nigeria joined OPEC in 1971, it wasn’t just another membership, it was a statement of power. From the discovery of oil in Oloibiri (1956) to the oil booms and busts that shaped the military era, petroleum became the lifeblood of Nigeria’s economy and politics.

Under General Yakubu Gowon, Nigeria became OPEC’s 11th member, aligning with other oil-producing nations to control prices and assert sovereignty over natural resources. This marked Nigeria’s rise as a key player in global oil diplomacy.

The creation of the Nigerian National Oil Corporation (NNOC) in 1971, later merged into the NNPC (1977), brought state participation in oil production, but also bureaucracy, corruption, and inefficiency.

Throughout the 1970s and 1980s, oil wealth fueled both national development and elite rivalry under successive military regimes. The oil booms built roads, funded education, and expanded government power, but also deepened inequality and dependency.

Figures like Yahaya Dikko, Nigeria’s OPEC President in 1981, and Mohammed Barkindo, OPEC’s Secretary-General (2016–2022), showcased Nigeria’s influence on the global stage. Yet, as prices collapsed in 1986 and beyond, Nigeria learned a hard truth: OPEC membership couldn’t shield it from global volatility.

Today, as the world shifts toward renewables, Nigeria’s OPEC role remains strategic, but its future depends on good governance, transparency, and economic diversification. The real test is not just in the oil it sells, but in how it manages the wealth it earns.