CSOs seek probe of $1.35b alleged oil revenue loss

A coalition of Civil Society Organisations (CSOs) under the aegis of the Nigeria National Interest Defenders (NNID) has urged President Muhammadu Buhari to order investigation into alleged loss of 22 million barrels of crude oil, worth $1.35 billion.

The group stated this yesterday at a media briefing in Abuja, where it sought nationalisation of a prominent International Oil Company (OIC) over alleged non-remittance of crude oil revenues.

Describing the non-remittance as sabotage of Federal Government’s economic agenda, Coordinator of the group, Chief Perry Opara, enjoined government to begin construction of alternative terminals in collaboration with indigenous companies to ensure accountability and transparency.

“The unaccounted losses in crude oil create leakages in the nation’s revenue and the negative impact, coupled with economic sabotage could thwart Federal Government’s economic agenda,” he said.
[ad]