The upstream oil industry is the single most important sector in the countrys economy, providing over 90% of its total exports. However, Nigerias economy is struggling to leverage the countrys vast wealth in fossil fuels in order to displace the crushing poverty that affects majority of its population. Too often, revenues do not get published; payments made to government remain secret; the pre-qualification of award of licenses are said to be fraught with irregularities and secrecy under the guise of Official Secret legislation. Similarly, inadequate financial statement make it easy to...
The upstream oil industry is the single most important sector in the countrys economy, providing over 90% of its total exports. However, Nigerias econ...