June 18, 2013

Enhancing Oil Sector Governance In Nigeria Through Transparency Reforms

The
paper highlights the importance of oil sector transparency in order to support governments push towards structural
reforms and inclusive growth.

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Author:Vanessa Ushie

Publication Date:December, 2011

Document Size:23pages


Why Oil Sector Transparency?

  • Corruption negatively affects growth. Overriding logic of unproductive rent-seeking in Nigerias political economy
  • Transparency reforms needed to shore up the credibility of the oil sector, and enhance productivity and efficiency
  • Greater oil sector transparency will support the governments push towards structural reforms and inclusive growth




Related

 

Nigeria Economic Update (Issue 4)

The Naira/Dollar exchange rate remained unchanged at ?199/$ in the official market but depreciated from ?263/$ to $267 at the Bureau De Change (BDC) market segment this week. As the naira depreciates, the CBN forex restriction measures continue to widen the gap between the official rate and BDC, which has led to increased calls for naira devaluation. The International Monetary Fund (IMF) and Business owners are among the major advocates for a relaxation of the forex restrictions set by the CBN, in order to enhance the level of economic activities.