Nigeria: U.S.$400 Billion of Oil Revenue Stolen, Says Ezekwesili

29 August 2012

Former World Bank Vice-President for Africa, Dr. Oby Ezekwesili, Tuesday said an estimated $400 billion of Nigeria's oil revenue has been stolen or misspent since the country's independence in 1960.

She also declared that while oil accounted for about 90 per cent of the value of the country's exports, over 80 per cent of that money ended up in the hands of one percent of the population.

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