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 20)

Nigeria Economic Update (Issue 18)

Recent Data released by the Nigeria Bureau of Statistics reveals an increase in total public debt stock between 2015 and 2016. Foreign and domestic debt stock stood at $11.4 billion and N14.0 trillion respectively as at December 2016, from $10.7 billion and N10.5 trillionrecorded as at December 2015. Disaggregated data shows that foreign debt sources comprised Multilateral ($8.0 billion), Bilateral ($0.2 billion) and Exim bank of China ($3.2 billion); domestic sources included government bonds, treasury bills and bonds. The federal government and states accounted for 68.7% and 31.3% respectively of foreign debt stock; 78.9% and 21.1% respectively of domestic debt stock. This maybe particularly at the backdrop of government borrowings in 2016 to finance its expenditure (mostly recurrent).

Responsible Data Governance In Africa : Institutional gaps and capacity needs

Nigeria Economic Update (Issue 15)