Policy Brief & Alerts

November 11, 2011

Transparency Deficits In The Disclosure Of Oil Sector Information In Nigeria

This brief examines the challenges in the discharge of
statutory transparency roles by strategic regulatory institutions in the oil
sector and also identifies policy interventions to improve access to
information on key oil sector processes and transactions.

Download Label
March 13, 2018 - 4:00 am
application/pdf
3.64 MB
v.1.7 (stable)
Read →


Publication Date:November, 2011

Volume Number: 1

Document Size: 4pages


This Policy Brief presents the findings of the Transparency Building Initiative, aproject of the Facility for Oil Sector Transparency (FOSTER) in Nigeria,implemented by CSEA. FOSTER is a five-year DFID funded project that aims toimprove oil sector transparency in Nigeria through a combination of technicalanalysis and policy advocacy. CSEA is the local partner in the FOSTER consortium,working with Oxford Policy Management, UK, and the Revenue Watch Institute,USA.

The Transparency Building Initiative (TBI) identified the most significanttransparency deficits in the disclosure of information on the Nigerian oil sector.This exercise was informed by the 2010 ranking of Nigerias oil sector by theinternationally reputed Revenue Watch Index as having partial revenuetransparency. In response to this global rating of oil sector transparency inNigeria, the TBI project sought to identify weaknesses in the discharge ofstatutory transparency roles by strategic regulatory institutions in the oil sector,specifically in the disclosure of information and data. The project also identifiedpolicy interventions to improve access to information on key oil sector processesand transactions.




Related

 

Nigeria Economic Update (Issue 33)

The naira depreciated by 4.3 percent to a record low of N313/$ at the interbank market segment on July 29, 2016.Precisely, the lack of liquidity in all FX market segments continues to weaken the naira. In order to increase FOREX liquidity, moderate inflationary pressures, encourage capital inflows and support the naira, the CBN may need to increase the supply of FOREX in the interbank market while simultaneously mopping up idle funds through the sale of securities.

Nigeria Economic Update (Issue 42)

Recently released survey report by the CBN shows an improvement in the availability of secured and unsecured banks credit and loans to households, corporate and small businesses in 2017Q3, and an optimistic outlook in 2017Q4. Among other indices, availability of overall secured and unsecured lending to households improved from -6.2 and -19.2 to -0.9 and -15.0 index points respectively; although still in the negative territory. Index for availability of credit to small businesses improved from -20.1 to -6.7. Lenders and respondents noted that anticipation of a brighter economic outlook, favorable liquidity positions, market share objectives and higher appetite for risk were major factors behind the increase. 

Nigeria Economic Update (Issue 17)

Activities in the manufacturing sector remained at levels recorded in 2016Q3. Specifically, manufacturing capacity utilization (a measure of potential manufacturing output that is actually realized) remained at 48.46 percent in 2016Q4 below average. During the quarter, structural bottlenecks such as epileptic power supply (average of 2, 548 Megawatts) in addition to forex constraints, hampered manufacturing activities. As such, high cost of raw materials and cost of production subdued activities in the short term. Recent efforts by the monetary authority to increase forex access to the manufacturing sector as well as improvement in gas supply and electricity generation would help minimize production costs and enhance production process.

Increasing Measles Immunization Coverage In Borno State Nigeria: Some Policy Options

This brief examines two measles immunization programs for children of age 9-23 months in an effort to boost measles immunization coverage in Borno State: free immunization against measles with media awareness campaign and free immunization against measles with house to house campaign.