ABSTRACT
An investigation into the impact of multinational oil
companies towards the Nigeria public revenue is just a project topic carried
out to ascertain the role or influence of one of these multinational oil
companies (ELF) on the economic life of our country (Nigeria).
The main objective of this study which was achieved at the
end of this project work are.
To check or rather analyze the profit of the company as it
affects the income tax.
To determine if the multinational oil companies in Nigeria
has contributed to the growth of national economy.
To know the impact of multinational oil company in Nigeria.
This research work was implemented by using data collection
from the staff members of ELF oil company by the use of questionnaires and use
of secondary data and by oral interview.
Research methodology used as mentioned above especially the
use of questionnaire was presented and analyze using chi-square (x2 square).
At the end of the research work was able to achieve my
objective of delving into it. And recommendation was given by the staff of
the ELF oil company.
PROPOSAL
An investigation into
the impact of multinational of companies towards the Nigeria public revenue is
just a project topic proposed to carry out in order to ascertain the role or influence of one of these
multinational oil companies (ELF) on the economic life of our country
(Nigeria).
The main objectives of this study are:
To check or rather analyze the profit of the company as it
affects the income tax.
To determine if the multinational oil companies in Nigeria
has contributed to the growth of nation economy.
To know the impact of multinational oil company in Nigeria.
Nevertheless for more than three decades oil has contributed
more than two third (2/3) of Nigerian’s public revenue and as a matter of face
this oil in Nigeria is exploited mainly by the multinational companies apart
from some contribution of Nigeria national petroleum corporation (NNPC).
It is important to carry out a study into the activities of
one of these multinational oil companies especially ELF to see their impact
towards the Nigeria public revenue.
Moreover in carrying out this research:
It is proposed to visit the multinational oil company in
order to collect analyze and interpret data relating to their contribution
towards the Nigeria public revenue. And their contribution towards the Nigeria
public revenue. And as well proposed to
visit the manager of ELF petroleum, residents of some of the communities where
some multinational oil companies are operational and also collect analyze and
interpret data form ministry of finance and central bank of Nigerian which will
enable me to achieve my purpose of this study.
Questionnaire for staffs of multinational oil company is
proposed to be prepared way carrying out the research work so as to know what
will be their responses.
Constraint that may be encountered why carrying out the research study are:
The huge financial
objective involved in the conduct of this study.
The time frame allowed for the conduct of this study which
may have some impact on he scope of this
study.
The imposed undue restriction to the researcher’s movement/
requirements in the company where she is to obtain necessary data of
information.
Finally in all these
constraint above believing God the
impact of the multinational oil company towards the Nigeria public revenue will
be established at the end of my research work.
CHAPTER ONE
1.1
INTRODUCTION
As a matter of fact the search for petroleum in the country
started as early as 1908 when a German company the Nigeria Bitumen Corporation
(limited) exploration in the Araromi area of western Nigeria. Their pioneering effort was interrupted by
the out break of the first world war in 1914.
However in 1937 oil prospecting resumed in the country with
shell D Arcy (the former of present awarded the side concessionary right
covering the territory of Nigeria. Their
activities were again affected by the second world war bit resumed in
1947. meanwhile, it was in 1956 that oil was discovered in commercial quantities
of Olobiri in the Niger Delta after several years of oil prospecting and
investing of over N30billion with this development shell started oil production
and expiration from its Olobiri field in 1958.
Following the discovering of oil in the country other
companies such as Mobil Agip Sc Frap (now ELF) Tennco and Amoseas (which we
know today as Texaco/ Chevron) by 1961 began exploration right which has been
formally granted to shell alone was extended to the new comers in line with the
government policy of increasing the pace of oil exploration in the country
Okigbo (1993).
So oil production and export from Olobirir field was first
started in 1958 by shell at a production rate of 5, 000 barrels of crude oil
per day. The quantity doubled the
following year and crude oil exports form the country rose to 2.0miliom barrels
per day in 1971.
In fact in 1972, 631,000,000 barrels were exported yielding
more than N600 million in tax and royalties. As production continued, Nigeria
attained the status of a major oil producer being presently ranked the 6th oil
producer in the world and second in African after Libya.
Furthermore initially government interest was only limited
to collection of royalties and other due (taxes) offered it from the oil
companies and rudimental laws to regulate the
activities of the oil companies and industry. This was due to fact that
oil revenue was very insignificant in the economy before the late ninety sixties and also relative
lack of trained personnel and expertise.