Tuesday, 10 June 2014

Ending secrecy in oil, gas and mining deals

It’s time to shine a light on the deals and the money

Secrecy in the oil, gas and mining sector allows the corrupt to steal billions.
Nigeria has been in the midst of an oil boom for over 50 years, yet 84% of Nigerians live on less than $2 a day. An estimated $400bn has gone missing from oil revenues in the country. This was possible because the secrecy in which the oil, gas and mining deals are conducted allows corruption to flourish.
If citizens, journalists and MPs don’t know the details of natural resource deals and payments, they can’t hold their governments to account.
Global Witness has been campaigning for transparency for 20 years. Our campaigning has led to the establishment of the Extractive Industries Transparency Initiative which requires companies in countries like Nigeria to declare what they pay to governments and governments to declare what they receive to allow citizens to follow the money.
We've also campaigned for ground-breaking new transparency laws in the US and the EU which mean that most of the world's biggest oil and mining firms are now required to declare what they pay to governments.
In the face of a big backlash from big oil and gas companies who want to continue to operate in secret, we’re continuing our campaigns for transparency.
Read more about our campaigns below.

Global Witness - 20th Anniversary logo  

No comments:

Post a Comment