Oil fraud
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Nigeria is an oil-rich country, but a lack of refineries means it still imports the bulk of its fuel. To keep prices low at the pump, the government subsidises fuel that is sold to it through the Nigerian National Petroleum Corporation (NNPC). Yet fraud is rife in the system, costing Nigeria over $6.8 billion in the past three years. It’s a scandal that is rocking the Nigerian political world and stoking much anger among citizens. Talking to Nigerian media, a government official revealed the six ways used to syphon money off the subsidy program.
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