The federal government has launched a book titled “Nigeria and OPEC: 50 Years of Partnership” to mark the golden anniversary of its membership in the Organization of the Petroleum Exporting Countries (OPEC).
The Minister of State for Petroleum Resources, Chief Timipre Sylva, made the announcement during a press conference on the anniversary Monday in Abuja.
“Exactly 50 years ago, on July 12, 1971, at the 24e OPEC meeting held in Vienna, Austria, Nigeria was admitted into the organization to its 11th member country.
“OPEC was at the time in its 11e year of existence having been established on September 14, 1960, in Baghdad, Iraq, by five founding member countries, the Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
“Today, July 12, 2021, marks the golden anniversary of a successful partnership between Nigeria and OPEC.
As part of this celebration, I am pleased to launch the book “Nigeria and OPEC: 50 Years of Partnership, 1971-2021,” he said.
He said the book was an updated version of one released in 2006 to mark the 35th anniversary.
According to him, this is a very important document which can adequately inform and inspire the future generation.
“The book provided an excellent overview of our people, our culture, our diversity and our relationship with OPEC during these turbulent 50 years.
“It also gives an overview of historic developments in the oil and gas sectors as well as their envisaged place in Nigeria’s energy transition commitments,” he said.
The minister said Nigeria, as a key player in the industry, will continue to fully support the organization’s efforts to balance the oil market for the benefit of all.
He said that Nigeria’s membership in OPEC was very important and had helped to strengthen shared values and protect the interests of the group.
“Oil will continue to be an important component of the energy mix for the foreseeable future. It will continue to be needed to fuel global economic growth in order to eradicate poverty, which is still prevalent around the world.
“OPEC’s role of stabilizing the oil market for the benefit of all stakeholders will continue to be required in the years to come,” added Syvla.
Commenting on Nigeria’s role in OPEC, he said he had contributed immensely to OPEC’s survival during times of turbulence by fully supporting the organization’s efforts to balance and stabilize the oil market.
He quoted OPEC Secretary General Mohammad Barkindo as saying that the organization had benefited from the wisdom and expertise of dedicated Nigerian officials who had engaged with the organization at different times.
“Nigeria has played a major role in getting the organization to focus on cooperation, goodwill, a sense of belonging and unity and in working for the stability of the oil market,” he said. quoting Barkindo.
Sylva added that in the past 50 years Nigeria has produced six OPEC conference presidents.
He appointed the chairmen to include Shetti Ali Monguno (1972/73), Malam Yahaya Dikko (1982/83), Dr Rilwanu Lukman (1986-89, 2002), Prof. Jibril Aminu, (1991), Dr Edmund Daukoru (2006) and Dr Ibe Kachikwu (2015).
“In total, they chaired 26 OPEC ministerial conferences held in several countries
“It is appropriate and important to mention that our President Muhammadu Buhari was also head of the Nigerian delegation to OPEC from 1976 to 1978 and continued to engage with the organization, giving his unwavering support to the laudable efforts of OPEC.
“He is known to have played a crucial role in negotiating the Declaration of Cooperation (DoC) between OPEC and non-OPEC oil-producing countries, which continued to be the backbone of the survival of the oil industry during the ongoing COVID-19 pandemic. ,” he said.
The Minister added that Nigeria had also provided four Secretaries General of OPEC, namely Chief MO Feyide 1975/1976, Dr Rilwanu Lukman (1986/88), Dr Edmund Daukoru (2006) and incumbent Mohammad Barkindo .
“This represents a total of 15 years of managing the affairs of the secretariat on behalf of the members, so Nigeria has played a vital role in the evolution of the secretariat and the development of the organization,” he said (NAN)
