Nigeria’s upstream petroleum industry anti-corruption legal framework: the necessity for overhauling and enrichment

Olusola Joshua Olujobi

Journal of Money Laundering Control, 2021, vol. 26, issue 7, 1-27

Abstract: Purpose - This study aims to investigate why anti-corruption statutes are not efficient in Nigeria’s upstream petroleum industry. Design/methodology/approach - This study is a doctrinal legal research that embraces a point-by-point comparative methodology with a library research technique. Findings - This study reveals that corruption strives on feeble implementation of anti-corruption legal regime and the absence of political will in offering efficient regulatory intervention. Finally, this study finds that anti-corruption organisations in Nigeria are not efficient due to non-existence of the Federal Government’s political will to fight corruption, insufficient funds and absence of stringent implementation of the anti-corruption legal regime in the country. Research limitations/implications - Investigations reveal during this study that Nigerian National Petroleum Corporation (NNPC) operations are characterised with poor record-keeping, lack of accountability as well as secrecy in the award of oil contracts, oil licence, leases and other financial transactions due to non-disclosure or confidentiality clauses contained in most of these contracts. Also, an arbitration proceeding limit access to their records and some of these agreements under contentions. This has also limited the success of this research work and generalising its findings. Practical implications - This study recommends, among other reforms, soft law technique and stringent execution of anti-corruption statutes. This study also recommends increment in financial appropriation to Nigeria’s anti-corruption institutions, taking into consideration the finding that a meagre budget is a drawback. Social implications - This study reveals that corruption strives on feeble implementation of anti-corruption legal regime and the absence of political will in offering efficient regulatory intervention. Corruption flourishes due to poor enforcement of anti-corruption laws and the absence of political will in offering efficient regulatory intervention by the government. Originality/value - The study advocates the need for enhancement of anti-corruption agencies' budgets taking into consideration the finding that meagres budgets are challenge of the agencies.

Keywords: Corruption; Transparency; Soft law approach; Upstream petroleum industry (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-10-2020-0119

DOI: 10.1108/JMLC-10-2020-0119

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