Nigeria's Oil Economy and Structural Adjustment (1970–2000)

1. Nigeria joins OPEC as 11th member

   Jul 1, 1971Labels: OPEC, Nigeria

   • OPEC History
   • OPEC Speech

2. Nigerian Enterprises Promotion Decree enacted

   Jan 1, 1972Labels: Indigenization Decree, Nigeria

   • NEPD Wiki

3. Naira introduced, replacing Nigerian pound

   Jan 1, 1973Labels: Naira, Nigeria

   • Britannica
   • Naira Wiki

4. Oil boom accelerates state-led expansion

   Jan 1, 1974Labels: Oil boom, Nigeria

   • Nigeria History
   • CBN Bullion

5. NNPC established as national oil corporation

   Jan 1, 1977Labels: NNPC, Nigeria

   • HRW Report
   • NNPC Wiki

6. SAP adopted amid oil-market crash and crisis

   Jul 1, 1986Labels: Structural Adjustment, Nigeria

   • CBN Monetary
   • CBN Reforms

7. Second-Tier Foreign Exchange Market launched

   Sep 26, 1986Labels: SFEM, Nigeria

   • CBN FX
   • SFEM Wiki

8. Anti-SAP protests intensify amid austerity

   Jan 1, 1989Labels: Anti SAP, Nigeria

   • Anti SAP Wiki
   • Washington Post

9. Nigeria LNG incorporated to monetize natural gas

   May 17, 1989Labels: Nigeria LNG, NLNG

   • NLNG
   • Nigeria LNG Wiki

10. Gulf War oil-price windfall boosts earnings

    Jan 1, 1991Labels: Gulf War, Nigeria

    • Oil Gas J

11. Vision 2010 Committee inaugurated

    Nov 27, 1996Labels: Vision 2010, Sani Abacha

    • WorldCat
    • Vision 2010 Wiki

12. Fuel price hike triggers nationwide protests

    Jun 7, 2000Labels: Fuel protests, Nigeria

    • Oil Gas J
    • UPI