POLITICS, CORRUPTION, AND GOVERNANCE IN NIGERIA'S OIL AND GAS SECTOR: EXPLORING THE IMPACT ON INVESTMENT, PRODUCTION, AND ECONOMIC GROWTH Dr. Joseph Dada Obele Department of Marketing Ignatius Ajuru University of Education, Port Harcourt, Rivers State, N

Abstract

The Nigerian oil and gas sector remains central to the country’s economic survival, yet its performance has been persistently undermined by politics, corruption, and weak governance. This study examined the effects of these institutional challenges on investment, production efficiency, and economic growth in Nigeria’s petroleum industry. Using a descriptive survey research design, data were collected from 300 respondents across key stakeholders in the sector. Three null hypotheses were tested with Analysis of Variance (ANOVA) at the 0.05 level of significance. Findings revealed that political interference significantly discourages investment, corruption has a strong negative effect on production efficiency, and weak governance frameworks undermine the sector’s contribution to economic growth. These results confirm that structural challenges in the oil and gas sector are not merely technical but largely institutional, reflecting deep-rooted governance and political economy issues. The study concludes that depoliticization, stronger anti-corruption enforcement, institutional reforms, and transparent governance practices are critical for revitalizing the sector and enhancing its role in Nigeria’s sustainable economic development.