Nigeria Missing Oil Money
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Nigeria Missing Oil Money

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Added by Headlines Africa in Nigeria


The Nigerian National Petroleum Corporation sells around one million barrels of oil a day or almost half of the country's total production. There are concerns that most of the money cannot be accounted for. In 2014, Nigeria’s central bank governor said $20 billion dollars in oil revenues went missing. A new report by the Natural Resource Governance Institute proposes ways in which Nigeria can stem corruption and ensure oil revenues will benefit the nation rather than individuals. Africa 54 business correspondent Alexis Christoforous spoke with one of the co-authors of the report, Christina Katsouris, an oil expert with Energy Intelligence.

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