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    Nigeria Oil and Gas Sector brief | 5. The Nigerian oil and gas industry has been vibrant since . the discovery of crude oil in 1956 by the Shell Group. However, the sector was largely dominated by multinational corporations until the early 1990s when Nigerian companies began to make a foray into the industry. Local participation

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    In May 1971 the Nigerian federal government, then under the control of General Yakubu Gowon, nationalised the oil industry by creating the Nigerian National Oil Corporation via a decree. Following the war with Biafra, the government felt it necessary to secure and gain more control over the oil industry.

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