The Sublimeness of Sleaze in the NNPC in the Fourth Republic, 1999 – 2007:A Historical Conspectus

Abstract

The discovery of crude oil in Nigeria in 1956 ushered in hope for economic prosperity and rapid developmental opportunities for the nation. Hence, in subsequent years, the Federal Government established the Nigerian National Oil Company (NNOC), a regulatory body to monitor and regulate oil production activities. However, the inefficiency and lapses in NNOC resulted in the emergence of the Nigerian National Petroleum Corporation (NNPC) in 1977. Nonetheless, the new agency had been a subject of criticism consequent upon its inadequacy to manage, monitor and control oil production and accountability within and outside the country. The inefficiency over the years assumed an unprecedented progression which metamorphosed into sublime of sleaze in the Fourth Republic. It is in the light of this malfeasance that the discourse examines in historical perspective the decadence of decorum in NNPC in the Fourth Republic. The methodology is thematic, chronological and analytical making use of primary and secondary sources. The scholarly essay posited that NNPC under the ex-president, Olusegun Obasanjo’s eight years in office witnessed the most scandalous sleaze the oil sector had ever experienced. The paper offered some caveats for NNPC operations in subsequent years if Nigeria must reap the reward ? in all ramifications ? of the oil discovery in 1956.

Keywords: Sublimeness, Sleaze, NNPC, Fourth Republic