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 41)

Latest World Economic Outlook (WEO) report by the International Monetary Fund reveals that Nigerias economy will grow by 1.9 percent in 2018 an unchanged stance from earlier projections. However, the figure is 2.9 percentage points lower than the 4.8 percent 2018 estimated growth rate in Nigerias ERGP (Economic Recovery and Growth Plan) 2 showing a very large disparity between domestic and international growth forecasts for Nigeria. The Funds projection however seems to have taken into cognizance underlying factors that could slow growth in the medium term: faster pace of population growth relative to GDP growth3, poor policy implementation, banking system fragilities and foreign exchange market segmentation.