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The ethics of Nigeria's proposed withdrawal from the organisation of petroleum exporting countries

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Abstract

In the wake of the prevailing world oil glut which has affected the revenue earning powers of OPEC (Organisation of Petroleum Exporting Countries) members, there are serious proposals and arguments in favour of Nigeria's withdrawal from OPEC.

The mission of this paper is to question the ethical basis of this proposed strategy after she has benefited from OPEC membership for over a decade. This paper postulates that it would be ethically wrong to do so and suggests a strategy that would boost the petrochemical industry for agriculture, building, pharmaceuticals, automative industry, etc.

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References

  • Adelman, M. A.: 1972, The World Petroleum Market (John Hopkins University Press, Baltimore) p. 80.

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  • Amu, Lawrence: 1982, A Review of Nigeria's Oil Industry Nigerian National Petroleum Corporation, p. 11.

  • Griffin, James M. and David J. Teece: 1982, OPEC Behaviour and World Oil Prices George Allen and Unwin, p. 4.

  • Nwankwo, G. O.: 1982, ‘Nigeria and OPEC: To Be or not to be?’ Economic and Financial Review, Central Bank of Nigeria 20, No. 1 June, 1982, pp. 6–9.

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  • Third National Development Plan, 1975–1980.

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Author information

Authors and Affiliations

  1. Department of Business Administration, Rivers State Univeristy of Science and Technology, PMB 5080, Port Harcourt, Nigeria

    Bedford A. Fubara

Authors
  1. Bedford A. Fubara
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Additional information

Dr. Bedford A. Fubara is Senior Lecturer and Head of the Department at the Rivers State University of Science and Technology in Port Harcourt, Nigeria. He was awarded the Columbia University Fellowship 1970–1972 and he received the Unesco Research Award in 1981/1982. His most important publications are: ‘Negative Profitability Performances of Public Enterprises in Developing Countries: A Business Policy Anatomy’, 1984, Public Enterprise 4; ‘Government in Business’, 1983, Management in Nigeria; ‘Corporate Planning Art in Nigeria: The Experiental Evidence of Corporate Executive’, Long Range Planning (forthcoming).

This research was financed by the Rivers State University of Science and Technology under Project No. SRPC/014 dated 11th June, 1984.

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Fubara, B.A. The ethics of Nigeria's proposed withdrawal from the organisation of petroleum exporting countries. J Bus Ethics 5, 327–332 (1986). https://doi.org/10.1007/BF00383100

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  • DOI: https://doi.org/10.1007/BF00383100

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