Transparency and Governance Challenges in Nigeria's Petroleum Supply Chain

Nigeria's petroleum sector contributes approximately 76% of federal revenue, yet remains plagued by systemic governance deficits. This paper examines transparency and governance challenges in Nigeria's petroleum supply chain, focusing on the impact of post-Petroleum Industry Act (PIA) 2021 reforms. Drawing on institutional and political economy theories, the analysis reveals that despite the PIA's comprehensive restructuring including the creation of new regulatory bodies and the commercialization of NNPC Limited significant implementation gaps persist. Key challenges include opacity in crude allocation, incomplete beneficial ownership disclosure, regulatory overlap, weak enforcement, and pervasive crude oil theft resulting in estimated losses of N8.41 trillion (2021–2025). The paper argues that entrenched rent-seeking, weak institutional coordination, and political interference undermine reform efforts. It recommends strengthening regulatory coordination, enhancing beneficial ownership transparency, and introducing independent auditing and robust oversight mechanisms to realize the PIA's transformative potential.

Transparency, Governance, Petroleum Supply Chain.

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