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Untangling government, market, and investment failure during the Nigerian oil boom: the Cement Armada scandal 1974–1980

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  • Hanaan Marwah

Abstract

The ‘Cement Armada’ was a major Nigerian government scandal which culminated in hundreds of cement-laden ships arriving en masse at Lagos, creating severe multi-year-long port congestion during the height of the 1970s oil boom. In spite of the scale of the scandal, its causes and consequences have received little attention from scholars. This article presents new research which suggests the Armada was one of several contributing factors to the extraordinary inflation in the price of construction during period. It places the scandal in the context of debates about corruption, organisational failure and a ‘resource curse’ in Nigeria.

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  • Hanaan Marwah, 2020. "Untangling government, market, and investment failure during the Nigerian oil boom: the Cement Armada scandal 1974–1980," Business History, Taylor & Francis Journals, vol. 62(4), pages 566-587, May.
    • Handle: RePEc:taf:bushst:v:62:y:2020:i:4:p:566-587
    DOI: 10.1080/00076791.2018.1458839
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    Cited by:

    1. Abel Ezeoha & Akinyinka Akinyoade & Ifediora Amobi & Ogbuagu Ekumankama & Paul Kamau & Agnieszka Kazimierczuk & Catherine Mukoko & Ifeanyi Okoye & Chibuike Uche, 2022. "Multinationals, Capital Export, and the Inclusive Development Debate in Developing Countries: The Nigerian Insight," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 34(5), pages 2224-2250, October.
    2. Qian, Yu & Xu, Zeshui & Qin, Yong & Gou, Xunjie & Skare, Marinko, 2023. "Measuring the varying relationships between sustainable development and oil booms in different contexts: An empirical study," Resources Policy, Elsevier, vol. 85(PB).

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