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 20)

Power sector analysis shows an increase in power generated by 15.5 percent from 3639.2 megawatt to a peak of 4196.2 megawatt between April 22, 2016 and April 29, 201612, albeit a sharp fall to 25.2 megawatts on April 23, 2016 following a system collapse13. In a bid to attain the targeted 10,000 megawatts by 2019, the Federal Government is set to complete the ongoing 47 power transmission projects across the country, which would boost power supply14. However, the delays in passing the budget into law is a major constraint to the completion of the projects. Thus government needs to speed-up the passage of the 2016 budget to provide the funds to complete the projects.