A special anti corruption situation room has been set up by the Human and Environmental Developmental Agenda to highlight government revenue losses from the sale of the oil processing licence for an offshore oil bloc.
Senior Correspondent, Femi Akande reports that a whopping N6b (Six Billion Dollars) is what Nigeria has lost in the fraudulent sale of the Oil prospecting licence for an undeveloped offshore oil bloc also called OPL 245.
This offshore deal has been a subject of litigation within the shores of Nigeria and internationally.
A civil society group In Nigeria, the Human and environmental development agenda is advocating for an outright cancellation of the sale of the Oil
bloc that puts millions of dollars in the pockets of corrupt government officials.
Foreign partners like Resources for Development Consulting, are also assisting resource-rich developing countries like Nigeria in securing a
fair share of extractive sector wealth by analyzing contracts and fiscal regimes.
The founder of this international civil society group says this ill fated OPL 245 deal is a loss to the nigerian people,
Recently the economic and financial crimes commission announced that it has secured a warrant of arrest against Dan Etete, a former Minister of
Petroleum, and Mohammed Adoke, a former Minister of Justice and Attorney General of the Federation, who were implicated in sale of the offshore oil bloc.
The court case has not been particularly interesting and is yet to reach a logical conclusion.
Nigeria’s OPL 245 is one of the biggest sources of untapped oil reserves on the African continent estimated to be at 9 billion barrels.