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The Effects of Transparency Policy Implementation in the Nigerian Extractive Industries
(Department of Public Administration, Nasarawa State University, Keffi., 2015-04-07) Hussaini, Hassan Tukur; Lameed, Inaolaji Kazeem
This paper assesses the effects of transparency policy implementation in the Nigerian Oil and Gas sector. The study is important due to the fact the Nigerian Oil and Gas sector operations have been shrouded in secrecy since the discovety of Oil and Gas in the countiy. With the implementation of the Transparency policy, the sector is supposed to be open for scrutiny at any time by all the stakeholders under the policy This study adopts the Documentaiy Research Method. It assessed and interpreted the contents of the oil and gas sector audit reports published by the Nigeria Extractive Industries Transparency Initiative (NETTI) from 2004-2011. The raw data and information contained in these audit reports were assessed and interpreted using Deductive reasoning. The study found a substantial increase in openness ofrevenues payments, declaration, and recovety of under assessment and underpayments of revenues. It was also found that efforts were being made to recover them. The study recommended that all revenue payments made, to whom and by who should be made public. And that all agencies concerned should confirm or deny receding payments as part of the efforts to strengthen the transparency policy in the Nigerian extractive industries.