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Vol 53 No 22

Published 2nd November 2012


The $100 billion bash

Government efforts to ignore a comprehensive new report on oil and gas industry corruption arouse deep suspicions

Findings by a government-commissioned task force that over US$100 billion has been siphoned off from Nigeria’s oil and gas industry since 2002 is causing a political storm. It may also prompt fresh legal cases against international oil companies. If the government fails to act on the report, which is due to be sent to President Goodluck Jonathan on 2 November, it will further undermine reformers, such as Economy Minister Ngozi Okonjo-Iweala and Central Bank Governor Sanusi Lamido Sanusi. They have been issuing dire warnings on recent economic developments. Opposition activists are gearing themselves up for a Herculean struggle to keep the report centre stage.

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