UPSTREAM PETROLEUM SECTOR CORRUPTION: IS THERE ANY NEED FOR REASSESSMENT AND ENHANCEMENT OF NIGERIA'S ANTI-CORRUPTION LAWS?

Abstract

Corruption is a spasmodic menace in Nigeria’s upstream petroleum sector. This study investigates why anti-corruption statutes are not efficient in Nigeria’s upstream petroleum industry. Rent-seeking, public choice and extractive theories of corruption are appraised owing to their influences in fighting corruption. The study is a doctrinal legal research that embraces a point-by-point comparative methodology with library research technique. The research reveals that corruption strives on feeble implementation of anticorruption legal regime and absence of political will in offering efficient regulatory intervention. Finally, the study finds that anti-corruption organisations in Nigeria are not efficient due to non-existence of the Federal Government’s political will to fight corruption, insufficient funds and absence of stringent implementation of anti-corruption legal regime in the country. The study recommends among other reforms, soft law technique and stringent execution of anti-corruption statutes. The study recommends increment in financial appropriation to Nigeria’s anti-corruption institutions taking into consideration the finding that meagre budget is a drawback