Nigeria is the largest oil producer in Africa and the eleventh largest producer of crude oil in the world. Nigeria's leaders have accomplished several important economic reforms since 2000, when new anti-corruption measures were put in place. Nigeria's National Assembly is currently reviewing a sweeping Petroleum Industry Bill, which would dramatically restructure the management of the country's oil industry in an effort to improve management, reduce corruption, and promote long-term development. Read a full profile of Nigeria.
December 10, 2014

The NNRC will launch the 2014 edition of the benchmarking exercise report on the 9th of December in Lagos and 11th of December Abuja.

For the 2014 edition, the NNRC entered into a partnership with the Lagos-based think-tank, the Centre for Public Policy Alternatives, which carried out the assessment’s research under the guidance of the NNRC expert panel. To inform its review of how sector governance has changed since the first benchmarking exercise conducted in 2012, CPPA interviewed industry experts, practitioners and civil society organizations, and conducted a comprehensive literature review to provide further evidence and assess facts for consistency.

Read the report »

April 9, 2014

The Nigerian Natural Resource Charter convened a Roundtable Discussion in Lagos on the 13th of March 2014, to examine the allegations by the Governor of the Central Bank of Nigeria (CBN) on discrepancies between the receipts of the Nigerian National Petroleum Corporation (NNPC) and the corresponding figures remitted to the Federation Account.

March 13, 2014

The letter by the Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, to President Goodluck Jonathan alleges potential fraud at the Nigerian National Petroleum Corporation (NNPC). This Policy Brief presents the facts of the case, which is the opacity of operational and financial transactions in NNPC that can possibly lead to high levels of fraud and significant risk to Nigeria. This document is a background to a Roundtable Discussion hosted by Nigeria Natural Resource Charter for industry stakeholders to sustain the debate for improved transparency in Nigeria’s oil and gas sector.

March 6, 2014

This policy brief examines the 2012 Executive Draft Petroleum Industry Bill (PIB) to determine whether the Bill achieves its intended reform objectives. It analyses the PIB vis-à-vis Government’s reform objectives as contained in the National Oil and Gas Policy as well as best practice from other jurisdictions. It concludes that overall the PIB falls short of its objectives and makes recommendations on what can be included in the Bill towards achieving its goals.

February 28, 2014

This page contains information, analysis and reports on the Nigeria extractive industry. The information on this page is sourced from publicly available research conducted by different organization’s.

Find below links to relevant reports and PDF versions: 

  1. NNPC and Nigeria’s Oil Patronage Ecosystem:,_Thurber_Emelife_Heller,_NNPC,_16_September_2010.pdf
  2. The Limits of Institutional Design in Oil Sector Governance: Exporting the "Norwegian Model" : 
  3.  Reforming Corruption Out of Nigerian Oil? Part One: Mapping Corruption Risks in Oil Sector Governance:
  4.  Reforming Corruption Out of Nigerian Oil? Part Two: Progress and Prospects:
  5.  Wealth Fund Requires Legal Standing, Binding Rules and Transparency:
  6.  Oil Contracts: How to Read and Understand Them:
  7. Nigeria Content Policy in the Oil and Gas Industry: Implications For Small To Medium Sized Oil Service Companies:
  8.  Oil Revenue Volatility in Nigeria: The Role of Fiscal Policy: 
  9. Boom, Bust or Prosperity? Managing Sub-Saharan Africa’s natural resource Wealth:
  10.  Nigeria’s Oil Sector and The Poor:
  11.  Nigeria’s Extractive Industries Transparency Initiative: Just a Glorious Audit? 
  12. Nigeria EITI: Making Transparency Count, Uncovering Billions:


February 20, 2014

Do you know how illegal oil refining and crude oil theft happen?

January 16, 2014

On September 25, 2013, the Governor of Central Bank of Nigeria (CBN) wrote a letter to the President of the Federal Republic of Nigeria. The central subject of that memorandum was “Non-Repatriation to the Federation Account by Nigerian National Petroleum Corporation (NNPC) of N49.8 Billion representing 76% of the value of Crude Oil lifting in 2012 and 2013”. But the letter also contains complaints about “Failure of NNPC to pay N22 billion Nigerian Export Supervision Scheme (NESS) Levy”, and “Other Related Matters”.

September 11, 2013

                                                    By Prof. Assisi Asobie 


As the civil war in Syria intensifies and the prospect of external, great power intervention in the Middle East heightens, world peace is ominously threatened. Of serious concern for all peace-loving peoples is survival, security and safety, as well as the protection of the material existence of the poor and the underprivileged, not only in  Syria, but also in other parts of the world. In a globalized world, war in one country brings deprivation and hardship to all countries. Based on historical experience, one of the immediate predictable consequences of the escalation and internationalization of the civil war in Syria is renewed dimension of the global energy crisis and the attendant aftermath.

For petroleum exporting countries like Nigeria, it is tempting to anticipate another era of petrodollar windfall—what some might cynically regard as the sweet side of a global energy crisis. Already, there are reports that the price of crude oil is on a temporary but steep rise. The price of crude is said to have upped to US$112 a barrel in early trading on Wednesday, last week (28-09-2013). Thereafter, the price of Brent crude reportedly increased by 1.5 per cent and peaked at US114.34. Although Nigeria’s oil production has, according to OPEC sources, fallen from about 2.03million, per day, at the beginning of the year to 1.871 million per day in June and then to 1.610million, per day, in July 2013, Nigeria has, apparently, already begun to reap the effects of the escalating crisis in Syria. It has been stated that if the Government of the United States of America makes good its threat to intervene in the Syrian civil war, the price of crude oil will rise even higher.

Nigerians at home and abroad are wondering if, and how, the Governments of Nigeria would manage the latest Middle-East-crisis-induced extra crude oil revenue. Would the windfall be mismanaged again as it was in the past. Nigeria is now a member of the Extractive Industries Transparency Initiative (EITI) Association, and there is a move to have it become committed to the implementation of the Natural Resource Charter (NRC), will the Governments of Nigeria choose to put into practice the principles of EITI and the precepts of NRC relevant to the management of oil revenue volatility?

The very first principle of EITI is a shared belief that the prudent use of natural resource wealth constitutes an important machine for sustainable economic development and poverty reduction. Conversely, if resource revenue is not managed properly, it will create negative economic and social impacts on the nation. Similarly, the first precept of the NRC is that what constitutes the highest rationale for extracting crude oil and converting it into revenue is using the wealth to secure the greatest social and economic benefits for the mass of the people of an oil-bearing country. Furthermore, both EITI and NRC highlight the principles of transparency and accountability as key and indispensable tools of petroleum revenue management. Mainstreaming the twin principles is the very definition of prudent revenue management. More specifically, the NRC goes further to demonstrate that it is a global best practice for governments of resource-rich countries to institute measures and take action to insulate their oil-derived revenues and expenditure from cyclical changes in crude oil prices and volumes of production. This is done by sweeping extra oil revenues aside, and saving and investing it for the rainy day.

Nigeria has so far toyed with several measures in that direction: first, the Oil Price Fiscal Rule; then the Extra Crude Account; and now the National Sovereign Wealth Fund(NSWF). None of these, however, measures up to the best of the global best practice. There is for instance the Norwegian State Petroleum Fund (NSPF). Established in 1996, by 2001, the NSPF had accumulated US$80 billion, amounting to 45 per cent of the Norway’s Gross Domestic Product. It is treated strictly as a stabilization and investment fund. It is invested in such a way as to enhance the international purchasing power of Norwegian kroner. The guiding principle in managing the Fund in Norway is to strike a balance between medium term macroeconomic stabilization and short term, measured, gradualist, incremental budgetary expansion. The financing of non-oil budget deficit in Norway is done by using the yield of the invested capital fund, which is about 4 per cent per annum. The Fund is managed by the Norwegian National Bank and made accountable to the national legislature.

Compare that with the Nigerian NSWF. The initial capital was US1 billion, which is “allocated” into various buckets: US$325 million to infrastructure projects; US$200 million to Stabilization; US$325 million as Future Generation Fund; and the balance to be allocated as “we go”. The Nigerian NWSF is managed by a new bureaucracy and advised by foreign “experts”. Surely, we can do much better.

This article is authoured by Professor Assisi Asobie. He is the co-chairman on the expert advisory panel of the Nigerian Natural Resource Charter (NNRC). See full profile information on link. This article was also reported in the Business Day newspaper. Images sourced from articles in The Telegraph and BudgIT
















May 3, 2013

3 May 2013                                                                                                  


The BusinessDay Newspaper has just published an article which captured highlights of the workshop hosted by the Nigerian Natural Resource Charter (NNRC) in Lagos to provoke discussions on Fuel Subsidy in Nigeria. This workshop was hosted alongside the launch of the "Citizens Guide to Energy Subsidies in Nigeria" by the Center for Public Policy Alternatives (CPPA).

The article highlighted some key issues discussed during the presentations and the recommendations of the Charter on the issue of subsidies. Key among these are the inequitable distribution of resource revenues in the 2013 budget to key sectors like education, health and agriculture as compared to the provisions made for subsidy in the budget. 

The article also showed highlights from the NOI Polls recent polling on petroleum pricing in the country. The results of the polls showed that "...many Nigerians purchase fuel at prices way above the official pump price of N97 stipulated after the partial removal of fuel subsidy by government last year".

Click here to read full article. Presentations made at the workshop can also be found here.

April 23, 2013



26April 2013

LAGOS- 18 April 2013- The Nigerian Natural Resource Charter (NNRC) in collaboration with the Centre for Public Policy Alternatives (CPPA) convened a workshop to launch A Citizens’ Guide to Energy Subsidies in Nigeria. This guide was published by CPPA and the International Institute for Sustainable Development’s Global Subsidies Initiative (GSI). The conveners of the workshop also sought a range of views from participants regarding the current subsidy regime. This was timely especially with recent agitations following the federal Governments proposed complete removal of fuel subsidies in Nigeria.

Key participants at the workshop were some members of the Expert Panel of the NNRC including former Nigerian Minister of Petroleum Resources and Chairman of the Panel, Mr. Odein Ajumogobia, representatives of the Nigerian Employers Consultative Association (NECA) and Nigerian Economic Summit Group (NESG). There were also representatives from the Jetty and Petroleum Tank Farm Owners of Nigeria (JEPTFON), the Trade Union Congress (TUC) and Civil Society Organizations among others.

The workshop commenced with brief comments made by the Chairman of the Expert Panel of the NNRC. This was followed by presentations made by Ms. Chinwe Ezeigbo- researcher with the NNRC- and Dr. Otive Igbuzor- Executive Director of African Centre for Leadership, Strategy and Development (Centre LSD) and member of the Expert Panel of the NNRC.

Ms. Ezeigbo, in her presentation, highlighted the facts regarding subsidies and revenue allocation in Nigeria. She also underlined the recommendations of the Precepts 1, 7 and 9 of the Charter. These precepts prescribe practical ways through which governments can best utilize revenues generated from the resource sector to achieve sustained economic and social development for its citizens.

Dr. Igbuzor focused on the advocacy issues on energy subsidy in Nigeria. He highlighted among other things that subsidies have been used as an opportunity to mismanage resource revenues and encourage corruption in the sector. He also emphasized the need for government to implement subsidies which are targeted towards the poor.

A panel discussion was convened after the presentations to discuss the state of subsidies. Panelists included members of the Expert Panel of the NNRC and representatives of JEPTFON and NECA. A question and answer session was held following these discussions with a range of questions and comments from the audience.

There was no consensus to support either a complete removal or the retention of subsidy in Nigeria. A key reoccurring message, however, was the need for a better management of the subsidy regime to enable transparency and accountability in the use of resource revenues. Also key were the recommendations for strategies to be developed to ensure subsidies are targeted to benefit the poor through, for instance, subsidizing general sectors such as public transportation.  

In the afternoon session, Dr. Folarin Gbadebo-Smith, the Managing Director and Chief Executive Officer for CPPA, introduced the Citizens’ Guide to Energy Subsidies in Nigeria. He gave an overview of its key findings on energy subsidies in Nigeria.  Free copies of the Citizens Guide can be accessed on this link

Presentations made during this workshop can be accessed on this link. Also see news article following this workshop here

What are your views on the following issues? Are resource revenues being used for the benefit of the current and future generations? Is public spending effectively allocated and controlled? Does the development of oil deliver significant economic and social benefits to citizens?

We are invited to express our views on these pertinent issues and more by scoring the industry here.

Image source: Getty Images 

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