The illegal sale of the 48 million barrels of Bonny light crude oil leads to a loss of $ 2.4 billion to the Nigerian government. The 48 million barrels of crude oil sold to China which were supposed to be remitted to the Federal Government accounts were missed due to Oil theft.
The Chairman Committee on investigating Oil theft in Nigeria’s House of Representatives Hon mark Gbillah said the committee is busy investigating the $2.4bn Nigeria lost in 2015 over oil theft.
People who unveiled the fraud said that the transactions happened around 2015 and alleged that 48 million barrels of crude oil were sold-off to China by a few individuals at the forefront of the government and other people from different organs.
The committee wants to wrap up the Investigation before the end of the 9th Assembly.