OTCPK:MAUXF - Post by User
Post by
carlos6on Oct 25, 2012 5:14pm
386 Views
Post# 20524950
BBC report on Nigeria #2
BBC report on Nigeria #2 It says $29bn (£18bn) was lost in the last decade in an apparent price-fixing scam involving the sale of natural gas.
It also calculated the treasury loses $6bn a year because of oil theft.
Nigeria is one of the world's biggest oil producers but most of its people remain mired in poverty.
Missing billions revealed this year
- $400bn - estimated amount of Nigeria's oil revenue stolen or misspent since independence in 1960 - World Bank's ex-vice-president for Africa, Oby Ezekwesili said in August
- $6.8bn - the amount a fuel subsidy scam has cost Nigeria over the last two years - a parliamentary report said in April
- $29bn - the amount lost by the treasury in the last decade in an apparent gas price-fixing scam - leaked Petroleum Revenue Special Task Force report in Octoberr
- $6bn - the amount the treasury loses a year because of oil theft - leaked Petroleum Revenue Special Task Force report in October
carlos