This paper argues that transparency, championed by the EITI, is not enough in countries like Nigeria which are characterized by bad governance in the form of corruption and patronage since it does not fundamentally alter the incentives for corrupt practices.
Politicians and oil companies will continue to be corrupt as long sanctions are not imposed for such behaviour at the expense of local communities, socio-economic growth and a narrowing inequality rate. This is why it is important to consider moving away from voluntary approaches towards a more binding instrument that is not dependent on a country’s institutions for effective implementation of anti-corruption laws
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