The new boss at Nigeria's extractive watchdog says the 2007 law that created his agency needs a serious upgrade because it does not give them enough power to actually police the oil and gas giants. Musa Sarkin Adar pointed out that previous leaders complained about the same gaps when they came to him back when he was in the House of Representatives, and he thinks you cannot effectively monitor powerful industry players without real enforcement teeth.
The outgoing guy mentioned that the government clawed back $3 billion through their reporting work, and they flagged over $6 billion in unpaid revenues that companies owed. Nigeria scored 92 out of 100 on outcomes and 90 out of 100 on transparency in their latest global review, despite dealing with a bunch of operational headaches when the previous administration started.
The outgoing guy mentioned that the government clawed back $3 billion through their reporting work, and they flagged over $6 billion in unpaid revenues that companies owed. Nigeria scored 92 out of 100 on outcomes and 90 out of 100 on transparency in their latest global review, despite dealing with a bunch of operational headaches when the previous administration started.
