Nigeria became a member of OPEC since ___________

Assessment: JAMB UTME - History - 2021 Subject: History

Question 1 Report

Nigeria became a member of OPEC since ___________
Answer Details
Nigeria became a member of OPEC since 1971. OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization that coordinates and unifies the petroleum policies of its member countries. It was established in 1960 by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Nigeria joined OPEC in 1971, eleven years after the establishment of the organization. Since then, Nigeria has been an active member of OPEC, contributing to the organization's objectives of stabilizing oil prices and ensuring a regular supply of petroleum to the global market. Nigeria is one of the largest oil producers in Africa, and its membership in OPEC has allowed it to collaborate with other oil-producing countries to achieve common goals.

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