December 2017

The benchmarking exercise provides a wealth of evidence to measure Nigeria’s performance against twelve precepts of good practice set out in the Charter covering the entire decision chain in the management of natural resources. Precept 1 which is securing the greatest social and economic benefits for the people of Nigeria is the high-level summary of all the subsequent 11 Precepts.

by Ode OjowuThe NEITI Report is, as usual, very lucid and straight to the point. It’s summary that “The failure of Nigeria to record meaningful savings from oil revenues despite establishing several accounts for that purpose, and in spite of consistently high oil prices especially in the ten years up to 2014, is traceable as much to a failure to comply with the rules guiding the stabilisation funds as well as to deficiencies in the rules”, cannot be put better.

The Nigeria Natural Resource Charter (NNRC) is poised to provide the necessary guidance to help both the government and people of Nigeria effectively harness the opportunities in the oil and gas sector for the betterment of the people. As part of ongoing interactions with government officials, industry practitioners, and other stakeholders, the NNRC is working hard to ensure that the 12 Precepts are adopted as yardstick to inform and improve natural resource management in the country.

The Nigeria Natural Resource Charter (NNRC) has been engaging media practitioners at different fora on effective coverage of the oil and gas sector. This is with aim to help the media understand the intricacies of the sector and also be properly equipped to carry out value added reportage of the sector.

The federal government has been implored to put all necessary mechanisms in place to hasten the cleanup of Ogoniland and other communities affected by oil and gas exploitation in line with the United Nations Environmental Protection (UNEP) report. This was the resolution at the Policy Roundtable organized by the Nigeria Natural Resource Charter (NNRC) in Port Harcourt, Rivers State.

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