Under Buhari Nigeria Has Lost N23.6bn Due To Lack Of Record For Oil and Non-Oil Products Exported

The Nigerian Senate, on Monday, February 20, was informed that Nigeria has no known record of oil and non-oil products being exported since 2015.

The lack of record has reportedly made the country lost over N23.6 billion expected to be repatriated proceeds of the export within the undocumented period.

Vanguard reports that the Senate alleged discovery of over $850 billion supposedly earned by the country between 1996 and 2014 from its crude oil export proceeds which it alleged was yet to be repatriated to the country by the Joint Venture Oil Companies.

This discovery was made during an investigative public hearing organized by a Joint Committee of the Senate Committees on Finance, Trade and Investment, Gas, Petroleum Upstream, Banking, Insurance and Other Financial Institutions, Judiciary, Human Rights and Legal Matters, and Customs.