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 in the past indicated that the penetration of multinational corporations (MNCs) into the economies 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 myriad problems have brought huge concerns regarding the relevance of MNCs. It is against this backdrop that the article demonstrates the role of multinational oil corporations (MNOCs) in the political economy of Niger Delta, the subordination of the role of the state to the interests of MNOCs, and the effects of the triple alliance between foreign capital, national capital and state on the region.