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Wednesday, 21 October 2015

Can Nigeria's president defeat oil industry corruption?

Nigerian President Muhammadu Buhari took power promising to tackle the "mind-boggling" level of corruption in his country's oil industry. But can he succeed?
Although oil is said to account for 75% of the Nigerian economy, no-one knows how much the country actually produces or refines because hundreds of thousands of barrels of oil are stolen every day, at each level of the supply chain.
President Buhari has taken personal control of the oil ministry and split the state-owned NNPC oil company into two entities in a move aimed at reducing corruption.
Four experts talk to the BBC World Service Inquiry programme about the challenge he faces.

Kolawole Banwo: Oil theft 'at industrial scale'
Kolawole Banwo is a senior programme officer at Nigeria's Civil Society Legislative Advocacy Centre.




"We do not have an independent metering facility to measure the quantity of oil that is extracted.
"We are not able to know the figures, [but] as at 2014, Nigeria could have been losing 300,000 barrels a day; about $12bn (£8bn) annually. That's a sizeable part of our budget.
"We can hardly afford to pay basic salaries and fund our budget because oil is being stolen. Considering we have the highest number of out-of-school children all over the world; the highest risk of maternal mortality; decaying infrastructure, and about 60% of our population live in poverty, it's very shocking indeed.
"Some of these pipelines were built in the 60s and 70s, so they are not strong. They are on the surface, they are rusted.


http://www.bbc.com/news/world-africa-34580862

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