Discover and read the best of Twitter Threads about #Fixouroil
Most recents (24)
How is the @NigeriaGov improving public procurement? Is SFTAS intervention working?
According to the @WorldBank SFTAS assessment report, only 15 of 36 states met the DLI 6.1 requirement, while 16 met the DLI 6.2 requirement and published data on all contracts awarded.
Thread!
According to the @WorldBank SFTAS assessment report, only 15 of 36 states met the DLI 6.1 requirement, while 16 met the DLI 6.2 requirement and published data on all contracts awarded.
Thread!
Let’s take a step back to understand open contracting!
Open contracting is a system of procurement that allows disclosure of procurement data at all stages and engagement and feedback from other stakeholders. #FixOurOil
Open contracting is a system of procurement that allows disclosure of procurement data at all stages and engagement and feedback from other stakeholders. #FixOurOil
To improve public procurement, the @NigeriaGov created a portal that allows the increase and disclosure of procurement information to all stakeholders to ensure efficient service delivery, improved transparency, and accountability. #FixOurOil
@BudgITng, in collaboration with @oxfam, continues to advocate for accountability and transparency in the extractive sector through #opencontracting. #FixOurOil
Thread!
Thread!
Open contracting is a procurement method that supports feedback and increases competition among potential contractors. It is crucial for transparency purposes and will help prevent fraud and corruption. #FixOurOil
Countries worldwide are adopting open contracting to promote best practices for public procurement disclosures and participation. Nigeria is one of the countries making great efforts to increase contract transparency. #FixOurOil
Hi @AishaYesufu, thanks for this initiative.
Here are 10 key priorities for the #CitizensAgendaDocument in a proposed order of importance.
These are all goals that have been achieved in one country or the other, so #ItsPOssible
I'll also add some simple measures of success 🧵
Here are 10 key priorities for the #CitizensAgendaDocument in a proposed order of importance.
These are all goals that have been achieved in one country or the other, so #ItsPOssible
I'll also add some simple measures of success 🧵
1. Strengthen the security infrastructure with a focus on protecting citizens, not just "catching thieves"
Nigerians should be able to do land travel from one geopolitical zone to the other without fear of attack (by bandits) or harassment (by police).
#CitizensAgendaDocument
Nigerians should be able to do land travel from one geopolitical zone to the other without fear of attack (by bandits) or harassment (by police).
#CitizensAgendaDocument
2. Fix electricity.
Nigerians should be guaranteed 24-hour electricity, not XYZ megawatt generation.
#CitizensAgendaDocument #LightUpNigeria #ImagineNigeria
Nigerians should be guaranteed 24-hour electricity, not XYZ megawatt generation.
#CitizensAgendaDocument #LightUpNigeria #ImagineNigeria
Deregulation of the downstream oil & gas sector in Nigeria is one topic that has been on for so long, you will be forgiven for thinking it's a yearly ritual in the country.
#FixOurOil
#FixOurOil
Over the years, successive attempts by various government administrations have failed in delivering a fully deregulated downstream market that should be based on the basic economic principle of DEMAND and SUPPLY.
#FixOurOil
#FixOurOil
In March 2020, downstream oil & gas sector regulators announced the implementation of the deregulated system of the sector. This meant that prices of petroleum products will be determined by the international price & the demand & supply
#FixOurOil
#FixOurOil
In Oct 2020,
All refineries recorded a deficit of N5.48bn without processing any crude oil.
NNPC made $1.95bn from 47.66m barrels of crude oil.
$32.19m was remitted to FAAC from the $ payment, while N4.41bn was spent on pipeline repairs.
NNPC's performance in Oct?
A Thread!
All refineries recorded a deficit of N5.48bn without processing any crude oil.
NNPC made $1.95bn from 47.66m barrels of crude oil.
$32.19m was remitted to FAAC from the $ payment, while N4.41bn was spent on pipeline repairs.
NNPC's performance in Oct?
A Thread!
@NNPCgroup sold 47.66 million barrels of crude oil in October 2020. The highest sales came from IOCs and Independent Sources, constituting 77.53% of total sales. #FixOurOil
Oil-producing states must depend less on FAAC & oil derivation funds and invent new ways of expanding their IGR.
To achieve this, they must cut the cost of governance and reduce recurrent expenses.
More insights from our report on Akwa-Ibom, Bayelsa, Delta & Rivers.👇
THREAD!
To achieve this, they must cut the cost of governance and reduce recurrent expenses.
More insights from our report on Akwa-Ibom, Bayelsa, Delta & Rivers.👇
THREAD!
In 2019, Akwa-Ibom's recurrent expenditure outperformed its capital expenditure by over 15%, and its debt profile has been on a steady increase in the last five years, rising from N187bn in 2017 to N237bn in 2019 #FixOurOil @results4dev
Bayelsa States's recurrent expenditure of 147bn was significantly higher than its CAPEX of N42bn.
This shows that not much is happening in terms of developmental projects.
Bayelsa is at risk of a debt crisis as its domestic debt grew by 61%, totalling N147bn. #FixOurOil
This shows that not much is happening in terms of developmental projects.
Bayelsa is at risk of a debt crisis as its domestic debt grew by 61%, totalling N147bn. #FixOurOil
In Oct 2019, President @MBuhari ordered a forensic audit of the @NDDCOnline after 9 Governors complained of large-scale corruption in the commission.
This includes over N1tn worth of fraudulent projects, a contract that was awarded 55 times, and 500 fake projects.
THREAD
This includes over N1tn worth of fraudulent projects, a contract that was awarded 55 times, and 500 fake projects.
THREAD
Subsequently, a three-man committee was set up to manage @NDDCOnline for the duration of the forensic audit. #FixOurOil
After this, FEC approved a sum of N318m for the engagement of a lead consultant for the forensic audit in Feb 2020. N722.3m was also approved for 8 @NDDCOnline forensic auditors by @NigeriaGov in Aug 2020. #FixOurOil
Let's talk about the Petroleum Industry Bill!
What is the bill meant to achieve in the oil & gas sector, and what are its governance provisions?
We've highlighted a few things you should know ahead of @housengr's public hearing on the bill, this week.
THREAD!
What is the bill meant to achieve in the oil & gas sector, and what are its governance provisions?
We've highlighted a few things you should know ahead of @housengr's public hearing on the bill, this week.
THREAD!
The Petroleum Industry Bill is an omnibus law meant to;
•Regulate the entire sphere of the oil and gas sector
•Repeal all current existing oil and gas legislation.
•Provide a framework for fiscal, governance, and
institutional aspects of the petroleum Industry.
#FixOurOil
•Regulate the entire sphere of the oil and gas sector
•Repeal all current existing oil and gas legislation.
•Provide a framework for fiscal, governance, and
institutional aspects of the petroleum Industry.
#FixOurOil
In clear terms, the PIB is meant to;
•Create an effective and efficient governing institution.
•Foster a business environment conducive for petroleum operations
•Promote transparency, good governance and accountability, among others. #FixOurOil
•Create an effective and efficient governing institution.
•Foster a business environment conducive for petroleum operations
•Promote transparency, good governance and accountability, among others. #FixOurOil
Our tweet session on "The challenges of Benefit Transfer to Host and Impacted Communities'' with @Ken_Henshaw, Executive Director @wtpnigeria starts in a moment.
You can join the conversation with #FixOurOil
You can join the conversation with #FixOurOil
@Ken_Henshaw leads and trains different teams of transparency and accountability advocates from NGOs and communities to monitor how states and local governments in the Niger Delta region generate and spend the revenues accrued to them.
Good morning Mr. @Ken_Henshaw. Welcome to our tweet session.
SUBSIDY REMOVAL: BUDGIT CALLS FOR HOLISTIC REFORMS IN THE OIL SECTOR
We have always called for subsidy removal because it has been used as a conduit for corruption.
However, we are worried about President @MBuhari & @nigeriagov’s approach to the removal & the timing..
Thread!
We have always called for subsidy removal because it has been used as a conduit for corruption.
However, we are worried about President @MBuhari & @nigeriagov’s approach to the removal & the timing..
Thread!
...considering the devastating effects of #COVID19 on the economy and the rise in food prices.
While subsidy removal is inevitable, we expect @nigeriagov to earn Nigerians' trust and public support first by taking proactive measures including cutting government waste...
While subsidy removal is inevitable, we expect @nigeriagov to earn Nigerians' trust and public support first by taking proactive measures including cutting government waste...
...to build citizens’ confidence in subsidy reforms.
Currently, the optics by the government give the impression that the country is not living on borrowed funds.
Reforms cannot begin with the citizens, but with the government cutting costs in light of the pandemic.
Currently, the optics by the government give the impression that the country is not living on borrowed funds.
Reforms cannot begin with the citizens, but with the government cutting costs in light of the pandemic.
NNPC made a total of $15.46BN from the sale of 361.77 million barrels of crude oil in 6 months.
N883.71BN was remitted to FAAC from Naira payments.
N41.97bn was spent on pipeline repairs while a deficit of N29.7BN was recorded.
@NNPCgroup performance in H1 2020?
Thread!
N883.71BN was remitted to FAAC from Naira payments.
N41.97bn was spent on pipeline repairs while a deficit of N29.7BN was recorded.
@NNPCgroup performance in H1 2020?
Thread!
NNPC sold 361.77 million barrels of crude oil in H1 2020. The highest sales came from IOCs and Independent Sources with 63.08% of total sales.
#FixOurOil
#FixOurOil
A total of $15.46 billion was made from the sale of crude oil in H1 2020. The highest sales came from IOCs and Independent Sources, NNPC domestic and NNPC export at $10.07BN, $2.41BN, and $1.29BN respectively.
#FixOurOil
#FixOurOil
A breakdown of @NNPCgroup's performance in 2019!
NNPC's expenditure increased by N1.04tn and a loss of N3.4bn was recorded on crude oil sales.
Revenue earned was N6.05tn while N1.09tn was remitted into FAAC account.
All refineries incurred a cumulative loss of N149bn.
Thread!
NNPC's expenditure increased by N1.04tn and a loss of N3.4bn was recorded on crude oil sales.
Revenue earned was N6.05tn while N1.09tn was remitted into FAAC account.
All refineries incurred a cumulative loss of N149bn.
Thread!
Crude oil production was a total of 734.27m barrels with an average production of 2.01mbpd in 2019.
This is a slight increase of 4.5% over the average of 1.92mbpd recorded in 2018.
#FixOurOil
This is a slight increase of 4.5% over the average of 1.92mbpd recorded in 2018.
#FixOurOil
N3.46bn was recorded as crude oil losses from proceeds in domestic crude sales.
N32.97bn was deducted for product losses before remitting to FAAC while N551.21bn was also deducted from domestic sales proceeds to cover losses incurred due to under-recovery (petrol subsidy).
N32.97bn was deducted for product losses before remitting to FAAC while N551.21bn was also deducted from domestic sales proceeds to cover losses incurred due to under-recovery (petrol subsidy).
We commend @NNPCgroup for joining the @EITIorg as a partner company!
This is a laudable step towards adopting best practices for transparency by the agency.
We will be looking out for @NNPCgroup's activities in line with its new status as a member of @EITIorg.
Thread!
This is a laudable step towards adopting best practices for transparency by the agency.
We will be looking out for @NNPCgroup's activities in line with its new status as a member of @EITIorg.
Thread!
As a partner company, @NNPCgroup is expected to
1. Publicly declare support for the @EITIorg Principles, and by promoting transparency throughout the extractive industries, help public debate as well as provide opportunities for sustainable development.
#FixOurOil
1. Publicly declare support for the @EITIorg Principles, and by promoting transparency throughout the extractive industries, help public debate as well as provide opportunities for sustainable development.
#FixOurOil
2. Publicly disclose taxes & payments
3. Ensure comprehensive disclosure of taxes and payments made to all EITI implementing countries
4. Publicly disclose beneficial owners & take steps to identify the beneficial owners of direct business partners, including JVs & contractors
3. Ensure comprehensive disclosure of taxes and payments made to all EITI implementing countries
4. Publicly disclose beneficial owners & take steps to identify the beneficial owners of direct business partners, including JVs & contractors
@NigeriaGov loses about $8.3bn to illegal movements of funds between countries annually - an amount that could potentially create over 200,000 new jobs.
Did you know?
Most of these looting are done via anonymous shell companies & #BeneficialOwnership loopholes.
THREAD!
Did you know?
Most of these looting are done via anonymous shell companies & #BeneficialOwnership loopholes.
THREAD!
A beneficial owner is an individual or group of individuals who ultimately benefits from a company directly or indirectly; but whose identities are often hidden from the public & govt authorities through a complex web of ownership arrangements.
#FixOurOil
Explainer👇
#FixOurOil
Explainer👇
The likes of Gen. Sani Abacha, Diezani Madueke and other former public officials have looted funds through the complex network of companies in which they had hidden beneficial ownership.
@NigeriaGov has received a total of $24.94bn from @Shell in 5 years.
The highest payment of $6.4bn was received in 2018
Are you aware? The EU regulations require oil companies to publish royalty payments made to governments of oil-producing countries
Thread!
The highest payment of $6.4bn was received in 2018
Are you aware? The EU regulations require oil companies to publish royalty payments made to governments of oil-producing countries
Thread!
In 2019, the Nigerian government received a total of $5.63bn from @Shell. This represents a 12.03% decrease compared to the amount received in 2018.
The highest payment from Shell was from Production Entitlement which amounted to 70.76% of the total payment
#FixOurOil
#FixOurOil
2018 Oil and Gas Report -
A breakdown of the 2018 Oil and Gas Audit report reveals the following highlights:
#FiXOurOil
A breakdown of the 2018 Oil and Gas Audit report reveals the following highlights:
#FiXOurOil
In 2018, 701.10m bbls of crude were produced and accrued a total revenue of $32.62bn. Also, 36.45% of the crude oil lifted was by NNPC.
#FixOurOil
#FixOurOil
53.28m bbls of crude valued at $3.84bn were lost to theft and sabotage. This is an increase of 46.15% compared to the volume lost in the previous year.
#FixOurOil
#FixOurOil
What was NNPC’s performance in January 2020?
Has there been any improvement in our local refineries?
We examined @NNPCgroup's performance in January 2020 and here are our key discoveries.
#FixOurOil
#Thread
Has there been any improvement in our local refineries?
We examined @NNPCgroup's performance in January 2020 and here are our key discoveries.
#FixOurOil
#Thread
NNPC sold 59.31 million barrels of crude oil in January 2020. The highest sales came from IOCs and Independent Sources with 65.21% of total sales.
#FixOurOil
#FixOurOil
A total of $4.08 billion was made from the sale of crude oil in January 2020. The highest sales came from IOCs and Independent Sources, NNPC domestic and NNPC export at $2.63bn, $622.06m, and $336.64m respectively. #FixOurOil
What was NNPC’s performance in Q4 2019? Has there been any improvement in our local refineries?
We examined NNPC’s performance in Q4 2019 and here are our key discoveries.
#Thread
We examined NNPC’s performance in Q4 2019 and here are our key discoveries.
#Thread
All four refineries did not process any crude oil in Q4 2019. In the same quarter, the operating deficit recorded by the refineries was N34.11bn
#FixOurOil
#FixOurOil
NNPC sold 187.98 million barrels of crude oil in Q4 2019. The highest sales came from IOCs and Independent Sources with 65.21% of total sales
#FixOurOil
#FixOurOil
As crude oil prices fall below $35/bbl, recent abuse of Nigeria’s Sovereign Wealth Fund framework including the illegal transfer of $1.76bn to Governors during election campaign & illegal use of funds for fertilizer subsidy by @NSIA_Nigeria now puts the economy at risk
Thread!
Thread!
Nigeria’s Sovereign Wealth Framework has 3 enabling laws governing it. The laws require any incumbent government to save excess crude oil revenue & a component of non-excess crude oil revenue into 5 separate funds for a time crude oil price crashes; that day is here
#FixOurOil
#FixOurOil
No savings were made into the Excess Crude Account for several months between 2015 & 2018 when the crude oil price was above the benchmark as required by the Fiscal Responsibility Act, indicating selective compliance with the enabling law by @Mbuhari’s government
#FixOurOil
#FixOurOil
THREAD!
What was NNPC's performance in Q3 2019?
Has there been any improvement in our local refineries?
We looked into NNPC’s performance in Q3 2019 and here are our key findings.
#Fixouroil
What was NNPC's performance in Q3 2019?
Has there been any improvement in our local refineries?
We looked into NNPC’s performance in Q3 2019 and here are our key findings.
#Fixouroil
All four refineries did not process any crude oil in Q3 2019. In the same quarter, the operating deficit recorded by the refineries was N34.11bn. This is unsustainable!
NNPC sold 191.49 million barrels of crude oil in Q3 2019. This represents a 10.1% increase compared to Q3 2018. Highest sales came from IOCs and Independent Sources with 67.79% of total sales.
THREAD:
The oil and gas sector is still one of the most critical sectors begging for major reforms. The 2017 NEITI Oil & Gas Audit Report gives a breakdown of critical data to note:
#Fixouroil
The oil and gas sector is still one of the most critical sectors begging for major reforms. The 2017 NEITI Oil & Gas Audit Report gives a breakdown of critical data to note:
#Fixouroil
The report which covers the activities of 68 companies gives the total crude production in 2017 as 690.46 million barrels.
44.22% of this volume came from joint ventures.
#Fixouroil
44.22% of this volume came from joint ventures.
#Fixouroil
The 2017 figure shows a 4.53% increase in production compared to 2016. While there has been a steady decline in production from 2013 (800.48m barrels) to 2016 (659.13m barrels), the uptick in 2017 is encouraging.
#Fixouroil
#Fixouroil
DID YOU KNOW?
9.94% of the total gas produced in 2018 was flared away.
To end gas flaring, the @NGRSenate passed a Bill to prohibit gas flaring in Nigeria after the 3rd reading in April 2019 since 2nd reading in 2017.
Here's all you should know about the Bill.
#FixOurOil
9.94% of the total gas produced in 2018 was flared away.
To end gas flaring, the @NGRSenate passed a Bill to prohibit gas flaring in Nigeria after the 3rd reading in April 2019 since 2nd reading in 2017.
Here's all you should know about the Bill.
#FixOurOil
All data relating to the gas resources and flaring/venting of gas must be submitted to the Minister within six months.
#FixOurOil
#FixOurOil
Amidst crude price issues, money paid by @Shell to FG has been increasing since 2016.
2015: $4.9bn
2016: $3.6bn
2017: $4.3bn
2018: $6.3bn
$19.3bn was received by the government btw 2015 and 2018.
Has @MBuhari’s administration used oil money wisely?
#AskQuestions #FixOurOil
2015: $4.9bn
2016: $3.6bn
2017: $4.3bn
2018: $6.3bn
$19.3bn was received by the government btw 2015 and 2018.
Has @MBuhari’s administration used oil money wisely?
#AskQuestions #FixOurOil
The highest payments received was courtesy of production entitlements which accounted for 59% of total $6.3bn payment received from Shell in 2018.
Production entitlements: 59%
Tax: 20.1%
Royalties: 15.3%
Fees: 5.6%
#AskQuestions #FixOurOil
Production entitlements: 59%
Tax: 20.1%
Royalties: 15.3%
Fees: 5.6%
#AskQuestions #FixOurOil
With $3.7bn, NNPC received the highest component of these payments courtesy of production entitlement. Is NNPC accountable enough to the government and citizens?
NNPC: $3.7bn
FIRS: $1.28bn
DPR: $1.25bn
NDDC: $0.08bn
#AskQuestions #FixOurOil
NNPC: $3.7bn
FIRS: $1.28bn
DPR: $1.25bn
NDDC: $0.08bn
#AskQuestions #FixOurOil
BudgIT has called on Pres. @MBuhari to privatize all government-owned refineries and fully deregulate the petroleum downstream sector.
Our new Policy Brief found: government-owned refineries made a total loss of N159 billion in 2017/18.
#FixOurOil
LINK: fixouroil.com/wp-content/upl…
Our new Policy Brief found: government-owned refineries made a total loss of N159 billion in 2017/18.
#FixOurOil
LINK: fixouroil.com/wp-content/upl…
According to the Policy Brief, Nigeria's government-owned refineries in Kaduna, Port Harcourt and Warri incurred a cumulative loss of N32.8 billion in 2017 and N126.2 billion in 2018, making a total loss of N159 billion in the two most recent years alone.
#FixOurOil
#FixOurOil
With an average combined refining capacity utilization of merely 8.27% in 2018, the government-owned refineries are consistently unable to meet local demand, putting Nigeria in a precarious situation of importing nearly 91% of locally consumed petrol.
#FixOurOil
#FixOurOil
