Nigerian Oil Industry Case Study

1079 Words 5 Pages
It is important to address every aspect of the diverse and convoluted Nigerian oil Industry through international law. Licenses to explore and produce oil represent highly valuable assets for the foreign companies. It is imperative that these contracts are conducted in a more open and competitive manner. Transparency has been replaced instead with the non-performance of contractual obligations, bribery and favoritism. Although there were repeated attempts for the allocation rounds to take place in the public realm, many of the problems don’t take place at this point in the process. The Nigerian government must move to involve countries like the USA, England and Norway in the proceedings in order to integrate consultants better versed in traditional …show more content…
Foreign involvement in the policing of the Nigerian industry is weak and however moral the activity is, it still is not very fiscally appealing. Making the efficacy of the foreign actors’ involvement very low. Despite this, if the foreign actors they can focus on the incorporation of the international rule of law. The thorough and assertive pursuing of international codes and home land law can help to bolster the acquisition of asset repatriation, the prosecution of money laundering, and the eradication of state official corruption. It is well within their capability to enforce and encourage these laws in the in the international realm, but the incentives lie the maintenance of their image of morality in the public sphere which can continue without involvement. Lastly, Nigerian officials have chosen to blanket the issue by naming the oil subsidy industry as the main culprit of oil revenue loss, if the actors were to come out in opposition with simple statements it would go far to improve accountability in the region. It is highly unlikely that many of these actors would choose to participate in the cleaning of the Nigerian oil industry as it is not part of main actors in the oil community. With the US having such close ties to Saudi Arabia, including the most beneficial actor in the community would be difficult and this relationship is highly indicative of the growing problem of apathy toward corruption in lower quantity oil producing counties like Brazil and Nigeria. However, if the issue is not addressed in the near future, these issues will leak into the public sphere through violent conflict and

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