On December 9, 2014, CPPA and the Nigerian Natural Resource Charter (NNRC) launched a report of their second assessment of the governance of Nigeria’s petroleum wealth. Using the Natural Resource Charter (NRC) framework and a traffic light scoring system, the report systematically catalogues the state of Nigerian petroleum governance, and identifies crucial policy changes since the first assessment in 2012.
The NRC, a tool developed by a team of internationally renowned experts on natural resource management, is a set of twelve (12) principles intended to provide policy options and practical advice for governments, societies, and the international community on how best to manage resource wealth. A panel of independent Nigerian experts led its implementation in Nigeria, with CPPA conducting much of the research for the second assessment.
The 2012 report highlighted poor governance in Nigeria’s natural resource sector, issuing nine red lights, three yellow lights and no green lights. The 2014 benchmarking report finds that very little progress has been made, but notes some improvement in the form of increased local content investment and new international transparency measures.