Nigeria is one of Africa’s biggest oil producers, generating billions of dollars every year. But the big question many people ask is:
who really owns Nigeria’s oil money?
The answer is not as simple as it sounds.
Legally, Nigeria’s oil belongs to the government — meaning it belongs to all Nigerians.
The industry is managed mainly by the Nigerian National Petroleum Company Limited, which handles exploration, production, and sales on behalf of the country.
How the Money Flows
Oil revenue typically goes through this process:…CONTINUE FULL READING>>
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