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Njemanze demolitions: Social and economic effects - Mon, 12 Jul 2010
Sweetcrude: Vanguard's monthly review of the Nigerian Energy Industry - Mon, 12 Jul 2010
Comprehensive Niger Delta Environmental Survey released - Thu, 8 Jul 2010
Revenue Watch: Nigeria Considers creating new Sovereign Wealth Fund to promote sustainavble development - Thu, 8 Jul 2010
UN Committee on the Rights of the Child concluding observations - Thu, 17 Jun 2010
Official reports, declarations, constitutions and Legislation relating to the Niger Delta - Wed, 14 Apr 2010
Fuelling Discord: Oil and Conflict in Three Niger Delta Communities - Fri, 19 Feb 2010
Citizens Report on State and Local Government Budgets in the Niger Delta - Mon, 18 Jan 2010
Port Harcourt Waterfront Urban Regeneration - Scoping Study - Thu, 7 Jan 2010
killing at will - unlawful killings by the police in nigeria - Tue, 15 Dec 2009
Nigeria’s Extractive Industries Transparency Initiative: Just a Glorious Audit? - Thu, 10 Dec 2009
Report of The Technical Committee on the Niger Delta - Wed, 7 Oct 2009
Alternatives to demolitions - Abonnema Wharf Community - Fri, 4 Sep 2009
Demolition of Njemanze Waterfront - Factsheet from SDN Partners SERAC - Fri, 4 Sep 2009
Thirst for African Oil: Asian National Oil Companies in Nigeria and Angola - Wed, 2 Sep 2009
UN Habitat: Evictions and Demolitions in Port Harcourt - Tue, 1 Sep 2009
Amnesty International: Petroleum, pollution and poverty in the Niger Delta - Fri, 3 Jul 2009
Feature: Up in Smoke - Nigeria's continued reliance on gas flaring - Thu, 9 Apr 2009
Minority Rights Echoes at Nigeria's United Nations Review - Mon, 16 Mar 2009
Niger Delta's Civil Society Organisations recommendations on the human rights situation in Nigeria - Mon, 16 Mar 2009
Revenue Watch: Nigeria Considers creating new Sovereign Wealth Fund to promote sustainavble development
To promote sustainable economic development, the government of Nigeria is considering the creation of a Sovereign Wealth Fund, a savings tool that could protect against the volatility of the country's main revenue source: oil. But, according to new analysis by the Revenue Watch Institute (RWI), Nigeria risks repeating patterns of weak economic governance and volatile spending unless its new Fund features certain safeguards.
Sovereign Wealth Funds enable resource rich countries to save windfall profits when commodity prices are high, and soften the negative impact of price volatility. As researcher and Nigeria expert Alexandra Gillies explains in the Revenue Watch analysis, if Nigeria's leaders are to create a Fund that is more effective than existing fiscal policies, the Fund needs a solid legal standing, binding rules regarding the inflow and outflow of funds, and strict transparency requirements.
Nigeria's Excess Crude Account (ECA) was created to save windfall profits from periods of high oil prices. However, permissive governance structures have allowed extensive ad hoc withdrawals, reducing the ECA balance by almost 85%, or 16 billion dollars, in just 18 months. The account's depletion is among the reasons why Nigeria's National Economic Council and Ministry of Finance are considering alternative stabilization programs such as an SWF.
>> Download the full report by Revenue Watch International
