REPS WARN AGAINST CONTINUOUS GAS FLARING IN NIGER DELTA

The House of Representatives, yesterday, warned oil companies operating in the Niger Delta region against continuous flaring of gas estimated at over $5 billion yearly from over 257 flow stations, saying it had subjected the lives of residents in the area to serious health hazards.

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HOW IOCS FLEECE NIGERIA OF BILLIONS OF DOLLARS IN M&A FEES, TAXES

Nigeria reportedly lost about $10 billion in revenue which should have accrued to the country from mergers and acquisitions (M&As) by multinational oil companies over 10 years ago.


A report of an investigation by the Committees on Justice and Finance of the House of Representatives, exclusively obtained by THISDAY, reveals how oil companies manoeuvred their way and avoided payments of fees they were under obligation to pay.

The report also shows that Nigerian officials were willing collaborators as they failed to make demands from these companies monies due to the country.

Read more on Thisday Live