Joint Venture, Technology Transfer And The Performance Of Nigerian Oil And Gas Industry

Abstract

Purpose: The objective of this study is to examine joint venture, technology transfer on the performance of Nigeria's oil and gas sector between 1981-2021. Theoretical Framework: It is indisputable that the Nigerian oil and gas sector is not at peak performance when compared to what is obtainable from its peers in the Organization of Petroleum Exporting Countries (OPEC) (Iheukwumere, 2021; OPEC, ASB 2020). One of the factors responsible for the abysmal performance is ineffective and incoherent technology transfer management through joint venture arrangements (Odusina, 2022). Therefore, there is a need to empirically investigate the impact of joint venture arrangements on Nigeria's oil and gas sector production which lacks sufficient research. Methodology: The ex-post facto design was used where data were collected through secondary sources on the aggregate output of the joint venture companies and the total yearly output of the upstream sector of Nigeria’s oil and gas industry represented the performance of the Nigerian oil and gas sector in the period 1980 to 2021. The collected data were analyzed using the Quantile Autoregressive Distributed Lag (QARDL) approach to test for short and long-run impacts. Findings: The study revealed that there is a significant impact of joint venture arrangements on oil and gas production in both the short run and long run. Research, Practical & Social Implication: The study therefore recommends that policymakers and industry stakeholders should carefully evaluate the terms and conditions of joint ventures to ensure their alignment with the goals of maximizing oil and gas production. Originality/Value: The use of joint venture as a proxy for technology transfer in the production of oil and gas in Nigeria and use of secondary data between 1980-2021 for joint ventures is an eye-opener for further exploration of the study areas in oil and gas production management, particularly in the area of technology transfer, which lacks sufficient research.