Dr. Basiru Musa
International Relations and Diplomacy Department
Faculty of Administrative Sciences and Economics
Tishk International University, Erbil, Kurdistan Region, Iraq
Email: [email protected]
DOI: 10.23918/ICABEP2022p40
Abstract
The paper explored the role of the Nigerian National Petroleum Corporation (NNPC), being a strategically important public corporation in Nigeria, established on April 1, 1977, with the main aim of optimally managing Nigeria’s naturally endowed oil resources with a view to contributing to its socioeconomic development, which is expected to have a positive bearing on the standard of living of Nigerians. The paper utilised the qualitative research framework, where secondary data were obtained through document analysis, and it adopted thematic analysis in analysing the data and discussing the findings. The findings include management of Nigeria’s oil and gas resources, supervision of oil production and operations in the oil and gas industry, supply of oil products, investment in sectors that add value to the oil and gas industry, and which are of benefit to Nigerians and remittance to the federation account for even national development. The paper recommends that the Nigerian National Petroleum Corporation continue to perform the foregoing functions and invest more in value-adding sectors and sustain its interventions in the national life of the Nigerian state, hence helping the state address its socio-economic challenges.
Keywords: Public sector, NNPC, socio-economic development
ICABEP2022
4th International Conference on Accounting, Business, Economics and Politics
Organized by
Tishk International University, College of Administration and Economics, Salahaddin University-Erbil, and
University of Szczecin, Poland.
