Showing posts with label Nigerian Oil and Gas industry. Show all posts
Showing posts with label Nigerian Oil and Gas industry. Show all posts

Thursday, 3 July 2014

220 million barrels of oil unaccounted for in 10 years - NEITI

A total of 222,437,870 barrels of crude oil was unaccounted for by the Nigerian government in the period between 2004 and 2014, a report by the watchdog , Nigeria Extractive Industry Transparency Initiative (NEITI) has revealed.
At an average cost of $100 per barrel over the period, the country is estimated to have lost a total sum of $22 .04 billion, owing to her inability to account for the said volume of oil between 2004 and 2013.
This revelation is coming on the heels of the