The Nigerian National Petroleum Corporation (NNPC) is about to allocate several hundred thousand barrels per day of the country’s oil to new “direct sale of crude oil and direct purchase of products” (DSDP) contracts with private companies.
Four years after the Extractive Industries Transparency Initiative (EITI) began encouraging contract disclosure through its standard, this report assesses the extent to which governments of resource-rich countries have taken up the recommendation.
This country strategy note summarizes an NRGI analysis of country context and reform priorities. It also outlines NRGI’s engagement in Nigeria, complementing the work of other actors. Developments will naturally affect the assessments and objectives described herein.
This briefing argues that, currently subject to limited regulation and even fewer reporting requirements, companies engaged in physical commodity trading of oil, gas and minerals should be required to publicly report on their transactions with government entities.