Post-civil-war Nigeria caught the 1973 OPEC oil-price spike at full force. The Indigenisation Decrees (1972, 1977) transferred whole sectors of the economy to Nigerian ownership. The Second and Third National Development Plans channelled oil rents into infrastructure, universities and FESTAC '77 — the Second World Black and African Festival of Arts and Culture, January–February 1977. Lagos, Port Harcourt and Warri exploded in size. Universal Primary Education launched 1976. The Murtala/Obasanjo military transition produced the 1979 Constitution and the Second Republic.
Boom1970 — 1979· Chapter 7
The Oil Decade
Indigenisation. Second National Development Plan. FESTAC '77. Mass urbanisation of Lagos, Port Harcourt, Warri.
Source: CBN Annual Reports 1970–79; Sayre Schatz, Nigerian Capitalism (1977)
Era context
The political and economic reality
The government(s), economy and national reality across the period 1970–1979.
Head of State · Military
Gen. Yakubu Gowon
1966–1975
National reality
Counter-coup of July 1966, Biafran War (1967–70), then the oil-boom expansion. Twelve-state structure (1967) replaced the four regions. Three Rs (Reconciliation, Reconstruction, Rehabilitation) and indigenisation began.
Crises of the period
- Biafran Civil War 1967–70 (1–3 million dead)
- 1973 OPEC oil shock + boom
- FESTAC '77 preparations
GDP (World Bank)
$12.5 bn (1970) → $27.7 bn (1975, oil boom)
Cabinet (selected portfolios)
- Finance (Commissioner)
Chief Obafemi Awolowo (1967–71)
- Education (Commissioner)
A.Y. Eke (c.1967)
Federal Executive Council of commissioners; full roster being compiled.
Source: Federal Military Government records; World Bank WDI
Head of State · Military
Gen. Murtala Muhammed → Gen. Olusegun Obasanjo
1975–1979
National reality
Murtala assassinated 13 February 1976; Obasanjo completed the transition. Universal Primary Education launched 1976. Land Use Act 1978. 1979 Constitution and handover to the Second Republic.
Crises of the period
- Dimka coup attempt + Murtala assassination (1976)
- 'Ali Must Go' student protests (1978) — students killed over a 50-kobo fee increase
GDP (World Bank)
$28 bn (1975) → $47 bn (1979)
Cabinet (selected portfolios)
- Education
Col. Ahmadu Ali (1975–78)
- Education
J.O.J. Okezie (1978)
Source: Federal Gazette; Constitution Drafting Committee records (1976–78)
President · Second Republic
Alhaji Shehu Shagari
1979–1983· NPN
National reality
First executive presidency. Oil-price crash from 1981 destroyed the boom. Ghana Must Go expulsion of West African migrants (1983). Disputed re-election in 1983, then the Buhari/Idiagbon coup on 31 December 1983.
Crises of the period
- Oil price collapse 1981–83
- Maitatsine riots Kano (1980)
- Ghana Must Go (1983)
- 31 December 1983 coup
GDP (World Bank)
$64 bn (1980, oil peak) → $30 bn (1983, bust)
Cabinet (selected portfolios)
- Finance
Sunday Essang → Onaolapo Soleye
- Education
Sylvester Ugoh; later others (being compiled)
Source: Federal Gazette 1979–83; CBN Annual Reports
Methodology
Tier 1 · primary
Courts. Gazettes. National archives.
Tier 2 · corroborating
OCCRP. HRW. BudgIT. TheCable.
Redline
Wikipedia is never a source.