The petroleum downstream industry lacks transparency which creates an environment for smuggling, writes Oghenegare Eyankware
· Since the inception of oil and gas exploration and production in Nigeria, there has been lack of availability of reliable data of its operation in public domain. There is the perception amongst stakeholders that the transactions of the industry are shrouded in secrecy and in instances where data is released, it is usually viewed as distorted to suit government narratives.
· This has consequently created an atmosphere of distrust between citizens and government. For example, Nigerian National Petroleum Corporation (NNPC), the government institution mandated to supervise Nigeria’s oil and gas industry is usually regarded as the “cash cow” of the government due to lack of timely and reconcilable publication of its oil and gas transaction details for sake of transparency and accountability. Selected examples of such shrouded transactions include untimel