the perceived inequities in regional development and the distribution and control of oil wealth. 516. Nigeria is currently paying the constitutionally prescribed minimum of 13 per cent of derivation funds in respect of oil production to the states in the area. However, the region is demanding an increase to this prescribed minimum. The Niger Delta Development Commission (NDDC), which is responsible for developing infrastructure and generating employment in order to reduce tension in the region, has also launched a 15-year master plan to develop the region. 517. Nevertheless, about 300,000 barrels per day (bpd) of crude oil are lost to disruptions caused by shut-ins. These are the result of violent acts against oil companies and their staff or destroyed pipelines. 518. The CSAR also emphasises the need to address other sources of vulnerability faced by households. These include: drastic increases in the price of essential commodities; fluctuating commodity prices, especially of fuel; banning commodity exports to traditional markets; tribal clashes; and theft of household assets or robbery. Government’s assistance to victims of disaster or shocks is perceived to be weak. It tends to be undermined by rent-seeking behaviour, which reduces the amount of funds that reaches the intended beneficiaries. ii. Findings of the CRM Soundness of macroeconomic policies 519. Current fiscal, monetary, trade and exchange rate policies are driven by the NEEDS framework. They aim to stabilise the economy in the short run, achieve internal balance in the medium term, and move the economy towards achieving external balance in the medium and long term. Macroeconomic management aims to achieve high and sustained noninflationary growth. Important measures applied since 2003 are highlighted below. Fiscal policy reforms 160 520. These were introduced to achieve macroeconomic stability, internal balance, fiscal transparency, viability, efficiency and an improved revenue base. The MTEF was adopted to strengthen the management of public expenditure by outlining strategic priorities for allocating funds and engendering fiscal discipline. 521. Introducing an oil-based fiscal rule was an important initiative in this regard. This seeks to separate government expenditure from volatile oil prices and ensure that excess crude revenues are saved. 522. Government has succeeded in keeping the budget deficit to within 3 per cent of GDP. This has reduced an undue burden on monetary policy and established an environment conducive to private investment.