The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, Waziri Adio, made the disclosures in an interview with the Economic Confidential, the intelligence magazine
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He said the country lost $5.9 billion and N20 billion to inefficient practices and theft, among other things, and that $1.7 billion was still owed to the federation from oil mining leases
The Senate decision was equally sequel to a motion sponsored by Senator Tijani Yahaya Kaura, who said the details from the 2013 audit and financial report of activities in Nigeria’s oil and gas industry, which was conducted by NEITI, has shown that Nigeria made $58.07 billion from its hydrocarbon industry that year