!!

Welcome Guest

You are viewing this forum as a guest therefore You are Not Allowed to Post and Reply and You are not allowed to view links. Register or Login

collapse

* Search


* Recent Replies

can two different niche go in one blog by [Not Shown, Login to View]
[Yesterday at 10:56 PM]


How to create video for my blog by [Not Shown, Login to View]
[Mar 15, 2019]


About domain registration and web hosting by [Not Shown, Login to View]
[Mar 15, 2019]


MoneyMaker 2.0 is Ready!!! by [Not Shown, Login to View]
[Mar 15, 2019]


my website is live now by [Not Shown, Login to View]
[Mar 10, 2019]


Increase in Adsense Earning by [Not Shown, Login to View]
[Feb 16, 2019]


Website Showcase - Drop Your Website Link(s) Here by [Not Shown, Login to View]
[Feb 13, 2019]


Wanted: Freelance Writers For Amazon Gift Ideas Articles (N750 Naira Per Article by [Not Shown, Login to View]
[Feb 11, 2019]


Lists Of Affiliate programs you can Promote as a Nigerian by [Not Shown, Login to View]
[Feb 10, 2019]


How to Promote Your MoneyMaker Link and Code Using the PLR EBook by [Not Shown, Login to View]
[Feb 10, 2019]


Please i Want a cross check on my website and ready for adenese approval by [Not Shown, Login to View]
[Feb 10, 2019]


Video Editing Softwares to Edit Videos Before Posting to Youtube by [Not Shown, Login to View]
[Jan 31, 2019]


Android Application Builder by [Not Shown, Login to View]
[Jan 31, 2019]


Google Adsense Identity Confirmation by [Not Shown, Login to View]
[Jan 31, 2019]


My Blog is Live! by [Not Shown, Login to View]
[Jan 28, 2019]


Website hosting by [Not Shown, Login to View]
[Jan 26, 2019]


How to get web design client by [Not Shown, Login to View]
[Jan 11, 2019]


compliments of the season by [Not Shown, Login to View]
[Jan 09, 2019]


Wordpress post to facebook page automation by [Not Shown, Login to View]
[Dec 20, 2018]


How to Set Up Display Advertising in Google Adword by [Not Shown, Login to View]
[Dec 17, 2018]


The Most Reliable Place To Buy Bitcoin in Nigeria by [Not Shown, Login to View]
[Nov 12, 2018]


How Can I Reset My Password On Windows 8, I forgot My Password? by [Not Shown, Login to View]
[Nov 06, 2018]


Creation of a Wordpress site that will allow users to login by [Not Shown, Login to View]
[Nov 05, 2018]


How to Change Site URL to Mobile Version by [Not Shown, Login to View]
[Nov 05, 2018]


Possibility of Monetizing YouTube using a Nigerian postal address,etc ? by [Not Shown, Login to View]
[Oct 24, 2018]


e-commerce website by [Not Shown, Login to View]
[Oct 19, 2018]


How To Get Web Traffic From Social Media by [Not Shown, Login to View]
[Oct 15, 2018]


Site contributor click in Google Ads by [Not Shown, Login to View]
[Oct 14, 2018]


my first website online by [Not Shown, Login to View]
[Sep 30, 2018]


How to Apply for Payoneer Card and US Payment Service to Receive Amazon & others by [Not Shown, Login to View]
[Sep 19, 2018]

Author Topic: How to track Nigeria’s missing oil billions  (Read 607 times)

0 Members and 1 Guest are viewing this topic.

Offline [Not Shown, Login to View]

  • Forum Guide
  • Level 4 (Dedicated)
  • ******
  • Posts: 1056
  • Respect: +270
  • Gender: Male
  • Location: Ibadan, Oyo State of Nigeria
  • 1st Chamber
  • My Rank: 88

How to track Nigeria’s missing oil billions —Financial Times of London •Demands full audit of oil revenue

By News Express on 24/12/2013


The Financial Times (FT) of London has demanded a full and transparent audit of Nigeria’s oil industry as the only way to confirm how many billions of dollars are missing out of the country’s oil revenue.
“Not for the first time, Nigerians are being let down by poor stewardship of the oil industry, on which their country still depends for more than 90 per cent of export earnings,” the paper said in an editorial published on Sunday, December 22.

Challenging President Goodluck Jonathan to get to the bottom of the problem, FT said: “Mr Jonathan should order a forensic, external audit of the oil accounts to clear up the confusion. This could go two ways. It could expose the real extent of losses due to gross mismanagement and knock a further dent in public confidence. However, it could also show that government is serious about plugging the holes, while adding urgency to the passage of legislation meant to restore the industry back to health.”

The editorial entitled ‘Time for Nigeria to plug its oil leaks’ acknowledged the effort made by the Nigerian Government to reconcile figures between the Central Bank of Nigeria (CBN) and the Nigerian National Petroleum Corporation (NNPC). It, however, said that this is not enough.
According to The Financial Times, “One conclusion that can be drawn from the official confusion this month over the proportion of oil revenues going missing is that little progress has been made in bringing greater transparency to the sector. Africa’s leading oil producer still hosts an industry subject to billions of dollars in abuse, in obvious need of more stringent monitoring.”

The paper noted that, even though the reconciliation exercise showed that only about $11bn is missing from oil revenue realised between January 2012 and July 2013 – as against the nearly $50bn claimed by CBN Governor Sanusi Lamido Sanusi in his letter to President Jonathan – “There are big questions still left to answer, however. The first is how the state oil company justifies withholding the $11bn identified.” FT said that “Swap contracts, when crude oil allocated for domestic consumption is exchanged for refined product imports without money changing hands, may be hiding further substantial losses.”

The paper declared emphatically: “Only an audit can resolve (the) confusion over (the) missing billions.”

Source News Express


Knowledge Is Power – Seek For It

 

Related Topics

  Subject / Started by Replies Last post
back on track

Started by [Not Shown, Login to View] General Questions

3 Replies
1302 Views
Last post Oct 11, 2013
by [Not Shown, Login to View]
0 Replies
664 Views
Last post Nov 06, 2013
by [Not Shown, Login to View]
1 Replies
686 Views
Last post Jan 08, 2014
by [Not Shown, Login to View]
1 Replies
648 Views
Last post Mar 19, 2014
by [Not Shown, Login to View]
16 Replies
7371 Views
Last post Jul 17, 2018
by [Not Shown, Login to View]

TinyPortal © 2005-2011
SimplePortal 2.3.5 © 2008-2012, SimplePortal