The country’s authorities formed a committee to investigate theft and losses in the oil industry.
Nigeria’s losses from the theft of oil and oil products, as well as vandalism of oil pipelines from 2009 to 2020 amounted to $46 billion. This was reported by This Day newspaper on December 15, quoting a statement from the branch of the Nigerian public organization Extractive Industries Transparency Initiative (NEITI).
It is known that the total value of the stolen oil reached 619.7 million barrels.
Because of the serious damage done to the oil sector, the Nigerian government, together with NEITI, formed a committee to investigate the theft and losses.
Representatives of the Nigerian branch of NEITI said they are turning to the organization’s member countries for technical assistance in the investigation. They stressed that “some Nigerian officials colluded with foreigners for personal enrichment.”
We are talking about the case of the Swiss company Glencore – one of the largest mining companies in the world. He is suspected of bribing senior Nigerian officials to win contracts with the Nigerian National Oil Company.
NEITI is an international initiative that promotes revenue transparency and accountability in the extractive industry. Upon membership, countries commit to disclosing information on all stages of extractive companies’ activities from the acquisition of mining rights to the distribution of proceeds from sales. The organization includes about 60 states.
It will be recalled that in January the SBU detained malefactors involved in oil theft in the Sumy region. The scheme worked for almost a year and brought a loss of 20 million hryvnias.
EU agrees to additional gas volumes to Nigeria
news Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.