A Review of the Nigerian Energy Industry

EU in historic vote against the extractive industries’ bribing

EU flag13 June 2013, Strasbourg – Following the vote in Strasbourg on June 12, by 2015 European oil, mining, gas and logging companies will have to disclose the payments they make to governments for access to natural resources. S&D MEP Arlene McCarthy, the European Parliament’s rapporteur for the new Transparency laws, said: “The vote yesterday was history in the making. The new rules will be a major new weapon in the global fight against corruption, ensuring that citizens of resource rich countries can hold their governments to account for the exploitation of their natural resources.”

In 2008 alone, African oil, gas and mineral exports were worth 9 times the value of international aid (296 billion EUR Vs 33 billion EUR).

Arlene said: “After today’s vote 70% of the world’s extractive industry will be covered by tough transparency rules now and the European Union has led the way in setting a new global standard for transparency. The adoption of these laws is a watershed moment in the global drive for greater transparency.”

Euro MP Arlene McCarthy has worked closely with NGOs including The One Campaign, Oxfam, Global Witness and the umbrella group Publish What You Pay (PWYP) in order to secure this tough new law.

Arlene added: “After 18 months of tough negotiations we have a set EU rules of that we can be proud of and that show how effective cooperation, between legislators, citizens and action groups, can deliver real change.”

Ali Idrissa, PWYP Niger Coordinator said: “In Niger, and in other African countries, PWYP members have been campaigning for a transparent and responsible management of natural resources. In revealing payments, this legislation will support us in our campaigning so that we can call on our governments to spend the revenues in a way that will benefit current and future generations.

“We also need to know what payments are being made so that we can make sure countries are getting a fair share for their resources. Between 14.5 and 21 billion Euros of potential revenue for Niger have been lost since 1960 because of unfair deals.”

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