ABSTRACT If each resource (petroleum) rich nation was a living cell, the national oil company (NOC) would be the nucleus. NOCs are that important. They are the economic engine rooms of resource dependent nations. Nigeria’s NOC; the Nigeria National Petroleum Corporation (NNPC) is however yet to fulfill this role in the Nigerian economy. Since its establishment in 1977, a steady stream of reports and reviews have documented NNPC’s dismal legacy of lost revenues, inefficiency and corruption...
