Nigeria Loses N3.8 Trillion to Trade Misinvoicing

10 December 2014

Nigeria lost $22 billion, about N3.8 trillion to trade misinvoicing and other anomalies in the petroleum sector in 10 years, between 2002 and 2011.

This, according to a report released yesterday, titled, the '2014 Nigeria Natural Resource Charter (NNRC) Benchmarking Report', is due partly to weak cost regulation in the oil and gas sector.

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