OPEC To Mark 50th Anniversary of Nigeria’s Membership

By John Ikani

The Organization of Petroleum Exporting Countries OPEC Secretariat will mark the 50th anniversary of Nigeria joining the Organization on July 12, 2021.

OPEC’s objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.

Nigeria was unanimously accepted as the then 11th Member of OPEC on July 12, 1971, it was a day of historic importance for both Nigeria and OPEC.

To commemorate this landmark date, the OPEC Secretariat has pieced together a special OPEC Bulletin.

The edition will look at the history of Nigeria’s relationship with OPEC, including the many giants of Nigerian public service who have been responsible for the successful five-decade relationship that has evolved with OPEC, interview high-level figures, and examine and explore other topical issues surrounding Nigeria.

The focal interview is with the Nigerian President, Muhammadu Buhari, an OPEC veteran for over 40 years. President Buhari has been heavily involved in the Organization’s affairs and is currently the only serving Head of State in the world who made his career by being intensely involved in the OPEC family.

OPEC Secretary General, Mohammad Sanusi Barkindo, said: “OPEC has been fortunate to benefit from the talent, wisdom and extraordinary capabilities of generations of Nigerian public servants.

They have been integral to what the Organization has achieved. Over the course of the five decades of OPEC Membership, Nigeria has been a constructive partner, seeking consensus, and always encouraging compromise. The special OPEC Bulletin highlights all of this.”

Barkindo added: “The unique relationship between OPEC and Nigeria has been mutually beneficial and laden with a plethora of successes. The Golden Anniversary of Nigeria’s Membership is indeed a cause for celebration.

I very much hope that all Nigerians will celebrate with us, not only reflecting on the past, but also considering how we can build a more prosperous future together.”

The OPEC Secretary General will also deliver a keynote address to the 20th Nigeria Oil and Gas Conference that takes place from July 5-8, which will make reference to the positivity and longevity of the relationship between Nigeria and OPEC.