After the 1960 independence, the first indigenous Governor-General of Nigeria was Hon. Dr. Nnamdi Azikiwe (Zik of Africa). He was representing Queen Elizabeth of England in Nigeria. The first president of Nigeria was Dr. Nnamdi Azikiwe (Head of State) while Abubakar Tafewa Balewa was the first head of Government. Nigeria adopted the Republican Government system …
Iraq, Kuwait, Saudi Arabia, Venezuela, and Qatar. To use her oil wealth to ensure greater economic cooperation globally. To use her wealth to project her image internationally. To project her national interest by cautiously utilizing her oil wealth for economic growth. To forge a common front in the fight against apartheid in South Africa. To …
The inability of the organization to effectively regulate oil prices since its inception. Ideological differences among OPEC states. Fall in oil prices, which leads to reduction in demand of oil and its production. Disagreement among members on prices to be charged per barrel of oil. The problem of granting production quota among member states. Frequent …
The formation of OPEC has helped in stabilizing the prices of oil. OPEC has succeeded in regulating the production of oil among member states thereby ensuring that oil is not excessively produced by member states. OPEC has succeeded in raising the prices of oil among member states. OPEC has also succeeded that a uniform oil …
The Conference The Board of Governors The Secretariat OPEC Special Fund, and The Special Economic Commission.
To coordinate, unify and secure a common petroleum policy among member states. To fight for the interest of member states either collectively or individually. To help secure high stability in oil prices in the international market. To control the production level of member states in order to ensure that the oil is not excessively produced. …