Showing posts with label Oil Revenues. Show all posts
Showing posts with label Oil Revenues. Show all posts

Tuesday, March 15, 2016

Nigeria's NNPC 'failed to pay' $16bn in Oil Revenues

Nigeria's state-owned oil company has failed to pay the government $16bn (£11bn) in a suspected fraud, according to an official audit.

 Nigerian oil worker
The Nigerian National Petroleum Corporation (NNPC) provided no explanation for the missing funds, the auditor general told MPs.
Oil revenue accounts for two-thirds of the government's funding.
President Muhammadu Buhari has promised to crack down on corruption since coming to office last May.

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