Skip to main content

Who is stealing Nigeria 's oil ?

Nigeria , Africa 's richest economy , has always been
dogged by claims of oil -related corruption ,
transparency , and environmental damage . But
theft of oil is taking it to another level .
The country faces its worst oil crisis in years as
criminal gangs make off with billions in stolen
crude . Theft is no small matter for a country which
gets almost two-thirds of its revenue from the oil
industry .
Nigeria produced 2 . 25 m barrels of oil per day , but
around 400, 000 barrels of those are stolen -
meaning the government lost $ 8 bn in revenue last
year . And worse yet, independent think-tank
Chatham House believes money is even being
laundered through international banks.
With stolen oil , onsold to Asia, Latin America and
the US, as well as dirty profits for the criminals
and , some would say , corrupt figures within
government and industry , the process is
troubling .

Comments

most read

Lion blindsided by crocodile in river escapes

Lions might be the kings of the jungle, but crocodiles rule the river. At least most of the time. That wasn’t the case in a video shared by Kruger Sightings the other day. It shows a young lion crossing a river and getting blindsided by a crocodile. A woman in the background can be heard saying, “Oh my God; oh my God,” just before the inevitable. But it has a happy ending: A happy ending for the lion, that is. The crocodile’s next meal would have to wait. The footage was captured by a tourist while standing on the H10 bridge near the Lower Sabie River in the Kruger National Park in South Africa. “All we can say is, lions should always look both [ways] before crossing the river,” Kruger Sightings said on Facebook

6 Reasons for Breaking Up Text

Obasanjo tells youths, Fight for Nigeria’s survival.

Former President Olusegun Obasanjo has told youths to take up the responsibility and effect the needed change in Nigeria instead of blaming the previous generations for the nation’s decay. The former President said this at the 100th-year anniversary of Ijero Baptist Church in Lagos on Sunday. Obasanjo said the generation before him fought for Nigeria’s independence while his generation fought for Nigeria’s unity during the civil war. He said the subsequent generation also fought for democracy. Obasanjo, therefore, said it was time for the next generation to make its own contribution to national development instead of complaining. He said, “Recently, a son of my friend looked at everything around him and got angry and went to meet his dad who is my age mate. He told his father that our generation is a lost one. The father did not pay him any attention so he came to meet me. “He told me what he told his father and justified it by telling me that he went...

November quote 2014

Someone sent me a text msg in the early hours of today calling November a semi-final month....funny but true abi. Well my prayer this month is that The Lord who has made you win all your last 10 match games against 2014 will give you the victory over November & December and make you start at the top of the league table in 2015 in Jesus Name. Keep Winning