THE ROLE OF MULTINATIONAL OIL CORPORATIONS (MNOCS) IN NIGERIA: MORE EXPLOITATION EQUALS LESS DEVELOPMENT OF OIL-RICH NIGER DELTA REGION

Abstract

Scholarly works on development studies have revealed that MNCs’ penetration into the economy of developing countries would herald stable economic growth and social cohesion. But so far, outcomes have worsened economic inequality, and even led to violent conflicts. These myriads of problems have brought huge concerns on the relevance of MNCs. It is against this backdrop that this paper unveils the role of MNOCs in the political economy of Niger Delta, the subordination of State's role to the interests of MNOCs, and the effects of the triple alliance between foreign capital, national capital and State on the region.