International records / Internet Archive

6. Format.hum NIGERIA’ S FOREIGN POLICY AND EXCLUSIVE REFINING OF CRUDE OIL IN THE FOURTH REPUBLIC, 1999 2019

Since the discovery of petroleum oil in Nigeria, much of the crude oil was exported where it served as the major foreign revenue earner for the country. Following the phenomenal increase in the local consumption of refined oil, there was deliberate effort to refine some of the crude oil locally to meet up with this expanded demand. It was on the basis of this that four refineries were built in Port Harcourt, Warri and Kaduna between the late 1960s and the 1980s. In spite of the building of these refineries, Nigeria found itself as a major importer of refined oil as from the late 1980s up to da…