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This is a story of Nigeria’s biggest indigenous oil and gas company, a 61-year-old entity that was morphed over the years by a combined dose of ballsy youthfulness, ruthless ambition and the kind of opportunity that can only be found in an emerging economy.
The story begins with a historical perspective of the company and how it came to be one of Nigeria’s most controversial businesses. It culminates in the recent board room scandal that is threatening its future, as well as the investment and jobs of thousands of Nigerians.
Part 1
In 1956, just 4 years before Nigeria’s independence, a company named Esso West Africa Incorporated was formed in Lagos Nigeria. The company was owned by Exxon Corporation, one of the largest energy companies in the world at the time. During the oil boom era in 1976, 20 years after, the Nigerian government acquired Esso’s interest, making it the sole owner of the company. The government soon changed its name to Unipetrol Nigeria Limited.
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I love your corporate stories, So much insight into how business really works in nigeria. Such an eye-opener.
I am so much in love with your writing style. it is as intriguing as it is engaging and revealing.
You are doing a great service to all who aspire to play in the murky waters of Nigeria’s political economy.
Thanks a bunch
Excellent Piece. I am really enjoying your corporate stories as I am learning how business and politics is really played in Nigeria.
Brilliant! Reads like my favourite billionaire businessmen novels, only, this is real life! I just discovered Corporate Stories on this website for some weird reason since I’ve been following for months now. This is my first one and I thoroughly enjoyed it.
This is good stuff. What happened to Volpi? How long will this suspense last?