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In 1978,the Obasanjo Administration nationalized the assets of the British Petroleum and Barclays Bank in...

Government
JAMB 1997

In 1978,the Obasanjo Administration nationalized the assets of the British Petroleum and Barclays Bank in Nigeria in reaction to the British

  • A. monopoly of Nigeria;s oil market
  • B. Occupation of the Falkland Islands
  • C. continued trade links with South Africa
  • D. reluctance to write off Nigeria's debts
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Correct Answer: Option C
Explanation

In 1978, the Obasanjo Administration nationalised the Nigerian operations of British Petroleum (BP) and Barclays Bank as a political and economic sanction against the British government. This was in protest against Britain’s continued trade links with apartheid South Africa, which Nigeria opposed strongly.

The action was part of Nigeria’s broader anti-apartheid stance and reflected its commitment to African solidarity.


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