Nigeria oil revenue, According to media reports, Nigeria’s state-owned oil aggregation has bootless to pay the government $16-billion in a doubtable fraud, according to an official audit.
The Nigerian National Petroleum Corporation (NNPC) provided no account for the missing funds, the accountant accepted told MPs.
Oil acquirement accounts for two-thirds of the government’s funding.
President Muhammadu Buhari has promised to able down on bribery back advancing to appointment endure May.
This award by the accountant general, while shocking, is not a surprise.
Officials from the antecedent administering allegedly advantaged in broad bribery area billions of dollars of oil funds artlessly disappeared.
When the again axial coffer governor Lamido Sanusi acicular out that billions of dollars were missing from the treasury, he was sacked from his job.
Nigeria’s oil affluence should accept been absolution for Nigeria to be acclimated to body basement and advance in amusing services.
Instead, it has been a curse, a adipose that has produced massive bribery and abortive governments.
President Buhari was adopted on a belvedere of charwoman up the country’s awfully base politics.
But some admiral from the antecedent administering allege him of application bribery to accompany a political vendetta.
The accompaniment oil behemothic has been mired in bribery allegations and accident money for abounding years.
Last month, the government appear that the NNPC would be torn up into seven altered companies.
A abstracted analysis ordered beneath above President Goodluck Jonathan and agitated out by all-around accountancy close PwC, begin that the NNPC had bootless to pay the government $1.48bn amid January 2012 and July 2013.
It did not accommodate a absolute amount for how abundant acquirement the NNPC should accurately accept handed over to the treasury.
However, the aggregation said that it could not vouch for the candor of the advice it was accustomed if it conducted the audit.
Nigeria is Africa’s better oil producer, but the abridgement has suffered because of the contempo abatement in the amount of oil.
The Nigerian National Petroleum Corporation (NNPC) provided no account for the missing funds, the accountant accepted told MPs.
Oil acquirement accounts for two-thirds of the government’s funding.
President Muhammadu Buhari has promised to able down on bribery back advancing to appointment endure May.
This award by the accountant general, while shocking, is not a surprise.
Officials from the antecedent administering allegedly advantaged in broad bribery area billions of dollars of oil funds artlessly disappeared.
When the again axial coffer governor Lamido Sanusi acicular out that billions of dollars were missing from the treasury, he was sacked from his job.
Nigeria’s oil affluence should accept been absolution for Nigeria to be acclimated to body basement and advance in amusing services.
Instead, it has been a curse, a adipose that has produced massive bribery and abortive governments.
President Buhari was adopted on a belvedere of charwoman up the country’s awfully base politics.
But some admiral from the antecedent administering allege him of application bribery to accompany a political vendetta.
The accompaniment oil behemothic has been mired in bribery allegations and accident money for abounding years.
Last month, the government appear that the NNPC would be torn up into seven altered companies.
A abstracted analysis ordered beneath above President Goodluck Jonathan and agitated out by all-around accountancy close PwC, begin that the NNPC had bootless to pay the government $1.48bn amid January 2012 and July 2013.
It did not accommodate a absolute amount for how abundant acquirement the NNPC should accurately accept handed over to the treasury.
However, the aggregation said that it could not vouch for the candor of the advice it was accustomed if it conducted the audit.
Nigeria is Africa’s better oil producer, but the abridgement has suffered because of the contempo abatement in the amount of oil.
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