InformAfrica reports:

Nigeria’s state oil company had the poorest transparency record of 44 national and international energy companies evaluated in a report published by international watchdogs this week.

Transparency International (TI) and Revenue Watch Institute (RWI) rated a list of oil and gas companies, which represent 60 percent of global output, on how they reported revenues and disclosed information on anti-corruption programmes.

The report, released on Tuesday and based on research carried out in 2010, showed that publicly listed companies score better than non-listed firms, while international oil companies fare better than national oil companies.

Nigerian National Petroleum Corporation (NNPC) was the only company to score zero on organisational information disclosure, which included the provision details of deals agreed with governments and partners on energy projects. The average score was 65 percent.

NNPC was among eight companies, including Angolan state firm Sonangol and Russia’s gas export monopoly Gazprom, to score zero percent on reporting anti-corruption programmes.

Officials at NNPC could not be reached for comment.

A separate report last month showed NNPC was using its position as both buyer and agent for the Nigerian government to make profit that should have gone into state coffers.

Problems of inefficiency and corruption within NNPC have been acknowledged by Nigeria’s government, which has ordered a comprehensive audit. Many of the issues are supposed to be addressed by wide-ranging reforms contained within the Petroleum Industry Bill currently before parliament.
Continue reading on -- InformAfrica.

Partly culled from http://www.informafrica.com/business-africa/nigerias-oil-firm-said-to-have-poorest-transparency-according-to-report/

My issue with this report is that transparency watchdogs ranked Nigeria as one of the most corrupt countries in the world. I know it's nothing new, but this is not good for a developing economy; and as a concerned citizen -- I'm tired of it.

I hope following this year's elections, the new government will enforce a remarkable policy that will be aimed at uplifting Nigeria's reputation. I believe we can do it. This is a fight against corruption!

Nothing unusual about that.

NNPC was among eight companies, including Angolan state firm Sonangol and Russia’s gas export monopoly Gazprom, to score zero percent on reporting anti-corruption programmes.

Officials at NNPC could not be reached for comment.

Surprise, surprise !!!

tpiah!:

Nothing unusual about that.

I know we Nigerians are used to living with corruption. But I think it is high time corruption be a thing of the past.
Although, corruption can hardly be eradicated in any given society; Nigeria's rate of corruption is extremely high and scares potential investors away.