Nigeria Lawmakers To Investigate $17B Oil Theft Claim
ABUJA, Sept 23 (Reuters) - Lawmakers in Nigeria's lower house of parliament are to investigate whether $17 billion of petroleum and fuel exports were stolen by companies and government agencies under the administration led by President Muhammadu Buhari's predecessor.
Buhari, elected last year largely on his vow to fight corruption, has said he will recover "mind-boggling" sums of money stolen from the oil sector in the OPEC member nation, which has Africa's biggest economy.
He has said public coffers were "virtually empty" when he took office last May after defeating his predecessor Goodluck Jonathan, who was president from 2010 until 2015.
House of Representatives member Johnson Agbonayinma filed a motion late on Thursday in which he said there was an "urgent need to investigate the over $17 billion stolen from undeclared crude oil and liquefied natural gas exports to global destinations".
The house said a committee would be set up next week to investigate the allegations which involve "20 companies, two agencies of government, and the consultant appointed by the past administration (of former President Goodluck Jonathan)".
Agbonayinma said most of the oil and liquefied natural gas ended up in the United States, as well as China and Norway. He also said around 58 million barrels of oil were missing.
Nigeria is in recession for the first time in over 20 years due to low oil prices and militant attacks on energy facilities in its Niger Delta region that cut crude production, which provides 70 percent of government revenues, by around a third.
(Reporting by Camillus Eboh; Writing by Alexis Akwagyiram; editing by Susan Thomas)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Weatherford CEO's Rebound Plan Relies On Getting Smaller
- Iran Says Oil Market Is Too Tight For US Zero Exports Target
- China's Squeezed 'Teapots' Eye Petchem Path To Riches
- Baker Hughes: US Drillers Add Oil Rigs For Second Week In Three
- Venezuela Hands China More Oil Presence, But No Mention Of New Funds
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- I Squared Eyes Full Ownership of Europe Gas Storage Firm
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension