Accounting, Accountability And Governance Practices Of Nigerian Content Development And Monitoring Board

Nevertheless, such facts about Nigeria as fear of Ebola epidemics spreading across its territory, growing rates of corruption, a presence of Boko Haram Islamist group, and a great dependence of the national currency from oil prices stand against drawing Canadian companies to it. In this case, understanding and possibility

For example, Shell Oil, an MNC (Multi National Corporation), extracted 50% of Nigeria’s yearly crude output, and 14% of its own output from the Niger delta region (The Changing Nature of Third World Exploitation, 1995). Though a large number of the local populace was recruited by Shell to serve as the basic labor force, there has been no change in the deplorable conditions the locals were living in. Over a period of 15 years, due to massive and widespread oil spills, heavy land degradation of the alluvial soil has taken place. The locals, who come from an agriculture based society, have in effect, been deprived of their ancestral way of life, their heritage, all due to the greed driven actions of the partly

By the same token, the movie “Big Men” reveals the deprave business practices in Nigeria and Ghana, labeling Nigeria one of the most corrupt governments in the world. Between 1960 and 1999, the Nigerian government wasted over 440 billion dollars of Nigerian profit, mainly from oil wealth. Despite the majority of the oil being drawn from the Niger Delta, a very impoverished region, the natives of that region have no access to this abundant, valuable resource (00:25). Militant groups began to form in opposition to the oil corporations, intentionally cutting and sabotaging pipelines to get a part of the wealth. In addition to being selfish in their profits, businesses promoted the devastation and intentional deterioration of resident towns to distract from their unjust oil bunkering endeavors (01:05). Natives, specifically those who participate in oil pipe sabotaging, describe their situations as the equivalent of “shooting themselves in the foot”, as they hate that they are destroying their towns and worsening their circumstances, but see no other option for retribution. Fires

The ethical responsibility is at the top of the pyramid mainly due to it having the least affect upon the implementation of CSR in the African region, it ‘embodies the standards, norms, or expectations that reflect a concern for what consumers, employees, shareholders and the community regard as fair, or in keeping with the respect or protection of stakeholders moral right’ (Carroll 1991, p41). There still remains a divide that is hard to breach for the likes of Shell due to the way in which corruption still remains rife, meaning they are seen by locals to be doing the wrong thing, Shell pays the Nigerian government a 13% royalty (Coble, B 2007) on the oil but due to political system being widely corrupt very little of that money actually reaches the locals that need it.

Nigeria is considered to be one of the most corrupt countries in the world. Many different forms of corruption are familiar to Nigeria including political corruption, bureaucratic corruption, electoral corruption, embezzlement, and bribery. Corruption has even been said to be a viable enterprise in Nigeria due to the involvement of citizens, government officials, and private corporations alike. Two main factors help explain why corruption and bribery are so high in Nigeria, these factors include Nigeria’s complete dependence on the petroleum industry and profit-focused companies taking advantage of a less developed,

oil in Nigeria. Nigeria’s large supply of high quality crude oil helped Shell climb to the top,

The author accurately stated throughout the article that the government is removing the subsidy as act of corruption. This was shown firstly, by moving the audience towards the direction that the promises deliberated during presidential campaign were not sincere. This therefore, allows the reader to understand that the Nigeria population was not adequately or not educated about this matter. Secondly, the authors provides figures of the refineries’ lack of capacity which showcases the years of mismanagement and corruption which has led to the incapacity to refine oil in the country. Thirdly, it emphasizes that the removal of such subsidy has taken place during the worst time ever given to all the instability in the North and moreover with the energy problems that Nigeria are currently facing. However, in my opinion despite all these facts stated by the author, I strongly believe this article has only one side of the story. In other articles which were investigated for the purpose of this analysis such as it talks about the massive problem they are with smuggling (Madukwe,2012), in addition, it explains how this massive amount of money which is being used to acquire

“Nigeria is currently the largest oil producer in Africa and was the world 's fourth-largest exporter of LNG in 2015. Nigeria 's oil production is hampered by instability and supply disruptions, while its natural gas sector is restricted by the lack of infrastructure to commercialize natural gas that is currently flared (burned off).” (British Petroleum, 2016) Nigeria is a member of OPEC. Although Nigeria is the largest oil producer in Africa, its production is affected by unplanned outages; some that have been estimated to have been up to 500,000 BPD. (U.S. Energy Information Administration, 2016) Nigeria’s petroleum industry is impacted by regulatory uncertainty, corruption, mismanagement of oil subsidies, oil theft, sabotage, environmental damages, and piracy in offshore West Africa.

The Nigerian oil production has been an issue that has become a cruse to the people for so many years. According to reports, the oil production has lubricated to Nigeria’s failure because it has damaged the economy as well as the environment and democracy. Anyone would think that a country that has an enormous resource of petroleum would be economically stable but this is not the case in Nigeria. For many years Nigeria has suffered effects directly as well indirectly from the oil industry. For my research I am drawing from two sets of sources. I will be referring to the books that I have researched as my A-sources. The newspaper articles will be referred as my B-sources in this paper. Through out my paper, I will show you how and explain why the media today only reports one side of the story while the books on my geopolitical topic will tell the background to the events occurring.

Most children in the Niger delta have little or no education, due to lack of funds from their parents who have lost their lands and have no jobs because of limited opportunities. The Niger delta government and the oil companies have refused to look into the situation; instead they favor their close relations neglecting the masses. Corruption in the Niger delta has led some youths in taking drastic measure in order to put food on their table. For example, Ikechukwu Efe an indigene of the Niger delta said that some of his friends created their own “oil refinery”, which is made up of crude oil in metal barrels with controlled heat from fire woods. This is a dangerous process in refining crude oil but the degree of poverty in the state left his friends with no choice. If only the government of the Niger delta have created jobs with the wealth of the state Ikechukwu’s friend would not have to put their lives in danger. Until corruption is put to an abrupt the people of the Niger delta will continue to live in poverty.

NNPC was founded in 1977 to manage Nigeria’s interests in the oil and gas industry. Prior to this, the oil industry was run by the international oil companies (IOCs), restricting the state’s involvement to collection of production leases, exploration license fees and regulation. In 1971, Nigeria joined the OPEC, whose major requirement was that the oil industries in the member states were to be nationalized. On the heels of that came a nationalization program which required the Nigerian government to own 60% equity of all investments made in the economy. In line with this, the NNOC (Nigerian National Oil Company), a progenitor of the NNPC, was established to handle the country’s major stake in the oil industry with respect

In order to fully understand the mechanics of the clientalistic Nigerian oil governeance, one must first explore the structuring of the institutions tasked with overseeing the industry. First and foremost is the Nigerian National Petroleum Corporation, or the NNPC. The NNPC is the parent company comprised of itself and 12 wholly owned subsidiaries that range from oil trade companies to petrochemical plants. With a workforce of over 9000, the NNPC oversees operation both down and upstream on the Niger river. The NNPC controls such a large percent through its subsidiary the National Petroleum Investment Management Services (NAPIMS), an investment firm that acts as the concessionaire for the NNPC, brokering all the oil contracts on the behalf of the Nigerian government. Utilizing its incredibly high amount of government mandate in conjunction with its industry savvy personnel, the NNPC has postured itself as the leading influence over the Nigerian oil sector. Second in the pecking order is the minister of Petroleum, the official tasked with overseeing the NNPC. A position now (and much of history prior to 1999) held by the Nigerian president, the minister forms a tightly knit cabinet of advisors whose will governs the majority of oil-sector policy making. However, the position has lent itself to corruption, instilling concentrated amounts of power in an institution with

Environmental injustice is a crucial topic in Ken Saro Wiwa’s novel, A month and a Day. Saro Wiwa. This will be the text that will be closely read and analyzed. I will also be discussing the video from Blackboard week 5, which is examined in Saro Wiwa’s novel and his life story. In this novel, Saro Wiwa discusses the harm that is occurring due to the oil exploration. The violent and corrupted government allows this harm to the locals and the environment. Some locals even stand up to the oil companies, and are paid to protect the oil barrels (Blackboard Video Week 5). Chevron and Shell are the two oil companies that are entwined in the history written by Saro Wiwa. Corruption is displayed in Saro Wiwa’s Diary. “Corruption against the environment, Local corruption, Government corruption, Since it began producing oil in earnest in 1956, Nigeria has become the poster child for the environmental, social, and economic devastation that can be wrought by unfettered fossil fuel production” (Watts 1).

The Niger Delta Region of Nigeria produces a significant portion of the combined oil wealth of Nigeria. Since 1956 when oil was first struck in Oloibiri in Southern Nigeria, the Niger Delta region has accounted for over 90 per cent of Nigeria’s oil income; however, the region has continually suffered from environmental neglect, disintegrating infrastructures, high rate of unemployment, social deprivation, abject poverty and widespread conflict. There have been incessant calls for the multi- national corporations(“MNCs”) operating in the area to demonstrate the value of their investments to Nigeria by undertaking increased corporate social responsibility(“CSR”) initiatives that provide for environmental friendly practices as well as direct social benefits such as local employment, new infrastructure, schools and improved health care delivery. In addition, the Nigerian regulatory measures enforcing the adoption of codes and conduct of CSR policies by these companies, their reporting practices and interaction with leading CSR institutions have either been non-existent or inadequately formulated and have therefore failed the entire population. The existing legal frame work needs to be reformulated into one which is fit for purpose. The is a dire need for an effective, independent management and enforcement of the host state’s regulatory exercise to alleviate the current perilous state of the region in particular and the country in general.

The Nigerian economy has several activities sectors which include agriculture (crops), livestock, forestry, fishing, manufacturing, crude petroleum mining and quarrying, utilities, building and construction, transport, communication, wholesale and retail trades, hotels and restaurants, finance and insurance, real estate and business services, housing, producers of government services and community, social and personal services. However, with the advent of the crude petroleum sector and its attendant boom in the international market, all other sectors of the Nigerian economy have experienced serious neglect by the government, thus resulting to an unbalanced economy.