## Nigeria: Selected Issues

_IMF Staff Country Reports, April 1, 2019_

## Source details

**Canonical URL:** [Nigeria: Selected Issues](https://www.imf.org/en/publications/cr/issues/2019/04/01/nigeria-selected-issues-46727)

## Other formats

- [Markdown version](/en/publications/cr/issues/2019/04/01/nigeria-selected-issues-46727/index.md)
- [Structured JSON version](/en/publications/cr/issues/2019/04/01/nigeria-selected-issues-46727/index.json)
- [Bundle manifest](/en/publications/cr/issues/2019/04/01/nigeria-selected-issues-46727/bundle-manifest.json)

## Bibliographic details
- Published: April 1, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498306225.002

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### Overview
- This Selected Issues paper examines concrete steps to improve governance of state-owned enterprises (SOE) and of the oil sector, given their importance to fiscal transparency and sustainability.
- Emphasis on reducing leakages in the petroleum sector because of Nigeria’s current fiscal and external dependence on oil revenue.
- The paper provides an overview of developments, recent reforms, and challenges, and outlines policy recommendations for stronger governance and corruption prevention, detection, and resolution.
- Anti-money laundering and combating the financing of terrorism (AML/CFT) measures are highlighted as instruments useful beyond the petroleum sector.
- Strengthening transparency is necessary to ensure Nigeria receives maximum benefits from the oil and gas sector.
- The Nigerian authorities must accelerate anti-corruption efforts to maintain momentum against both entrenched challenges and evolving threats.

### Key findings and analyses
- Governance weaknesses in SOEs and the oil sector materially affect fiscal transparency and fiscal sustainability.
- Petroleum-sector leakages are macroeconomically critical due to Nigeria’s fiscal and external dependence on oil revenue.
- AML/CFT frameworks and anti-corruption measures have cross-cutting relevance beyond petroleum, supporting prevention, detection, and resolution of corruption and illicit financial flows.

### Policy recommendations
- Strengthen governance and transparency in SOEs and the oil and gas sector.
- Implement anti-corruption measures to address both entrenched challenges and evolving threats.
- Enhance AML/CFT frameworks as part of broader anti-corruption and transparency efforts that extend beyond the petroleum sector.

### Implementation requirements
- Achieving critical improvements will require a combination of:
  - Legislative action,
  - Institutional reform,
  - Additional resources.

### Subjects and keywords
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Corruption, Crime, Education, Export diversification, External debt, Fuel prices, International trade
- Keywords: AMCON bill, AMCON disclosure, Anti-money laundering and combating the financing of terrorism (AML/CFT), collection power, Corruption, cost, CR, debt, Export diversification, firm, firm age, firm level, firm performance, firm size, Global, ISCR, MTDS debt mix objective

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## Content in this bundle

- **Nigeria: Selected Issues; IMF Country Report No. 19/93; March 13, 2019**
  - [Nigeria: Selected Issues; IMF Country Report No. 19/93; March 13, 2019 (Markdown version)](/-/media/files/publications/cr/2019/1ngaea2019002.pdf.md){rel="alternate" type="text/markdown"}
  - [Nigeria: Selected Issues; IMF Country Report No. 19/93; March 13, 2019 (PDF)](/-/media/files/publications/cr/2019/1ngaea2019002.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2019/04/01/nigeria-selected-issues-46727_