Nigeria Financial modelling of oil revenue data was used in Nigeria to estimate the opportunity cost of not reviewing production sharing contracts (PSCs) that were agreed in 1993. The study, undertaken in 2019, showed that the loss of revenue amounted to USD 16 billion to 28 billion. It contributed to an amendment of the Deep Offshore and Inland Basin PSC Act in November 2019, which increased royalty rates and introduced periodic reviews and penalties for non-compliance. Colombia The EITI has served as a platform for dialogue on the impact of the COVID-19 pandemic on Colombia’s public finances. In October 2020, EITI Colombia published a study on how extractive revenues could contribute to economic recovery. Basing its analysis on future revenue expectations, the study offered recommendations on addressing economic dependence on coal; improving policies to maintain the sector’s competitiveness; and using extractive royalty transfers to promote economic recovery at the regional and local level. Peru In 2001, Peru established a law requiring 50% of oil, gas and mining revenues to be distributed to regions and municipalities. The country has included these transfers in its EITI reporting since 2007, with its latest report covering revenue allocations to all regions in the country. EITI Perú has also decentralised EITI implementation since 2012, having established multi-stakeholder groups in several regions. Together, they have produced more than 30 reports and studies on extractive sector management at the subnational level. Mali In Mali, regional tax offices levy a fee directly from companies which accounts for 1.1% of government revenue. In 2020, a study by ITIE Mali examined revenue allocations by region, emphasising those allocated to youth, infrastructure services and women’s organisations. It found that revenue traceability at the local level was weak and that local authorities face significant challenges in accessing and using mining revenue data. The report recommended using digital technologies and establishing stronger partnerships between mining companies, government agencies and local authorities to improve revenue traceability and promote more effective revenue sharing with local communities. Aerial photograph of a sand quarry.