NewsNigeriaPoliticsSenate Uncovers a $300 Billion Hole in Nigeria’s Oil Accounts
An interim report by the Senate’s Ad-Hoc Committee on Crude Oil Theft has raised alarming concerns about decades of revenue loss in Nigeria’s oil sector. According to the report, the country may have lost more than US$300 billion to theft, leakages, and systemic corruption. The findings, presented on Wednesday by Senator Ned Nwoko (Delta North), reflect deep-rooted lapses in governance, regulation, and oversight of Nigeria’s petroleum industry. Weak enforcement, substandard measurement practices, and unaccounted-for exports...










