It is strange that commodities trading payments—often the largest payments companies make to government entities—are not covered by EU, Canada or Norway mandatory disclosure laws. The laws apply only to companies that physically engage in extraction of resources.
NRGI set out to collect total oil, gas and mining revenue data for the countries included in the Resource Governance Index to find out how many dollars flow to governments that mismanage the handling of their natural resources.
When Premium Times began investigating the Malabu oil scandal—which involves Royal Dutch Shell and Eni, as well as former Nigeria petroleum minister Dan Etete and other politically exposed persons—there was little sense of where the Nigerian newspaper’s reporting would lead.
Nigeria’s state-owned oil company, the Nigerian National Petroleum Corporation (NNPC), has kicked off 2017 by announcing the names of 39 companies it has chosen to purchase the government’s share of oil production. But while such transaprency is welcome, the list of newly announced names raises some concerns.
Most of Nigeria’s revenue comes from the oil and gas sector. The Public and Private Development Centre, which Seember Nyager leads, aims to monitor how this revenue is generated and how the government spends it.
In most countries, national governments negotiate extraction contracts with companies and collect the revenues, but it is those closest to the extraction site that see their physical and economic landscape change most dramatically.