Progress seen in Nigeria’s efforts to collect all oil royalties due

ABUJA, Nigeria: Nigeria has made some headway in getting its fair share of oil revenues from foreign energy companies, but the country, the largest crude producer in Africa, still loses hundreds of millions of dollars each year to theft, according to independent overseers.

Nigeria passed legislation last year establishing an independent body, the Nigeria Extractive Industries Transparency Initiative, or Neiti, to make sure that major oil companies pay the necessary royalties and taxes.


But anti-corruption activists, while welcoming Neiti, say the law is not strong enough to fully clean up a secretive industry that has spurred systemic corruption in the most populous nation in Africa.

“The law is a good beginning, but it’s trying to solve a problem that has been entrenched for decades,” said Shehu Sani, a civil rights activist and Neiti board member. “We can only do our best and the law helps us in that way.”

Nigeria is consistently ranked one of the most corrupt countries in the world by an independent regulator, Transparency International. Oil provides the bulk of government income.

Reuters