$32.7BILLION CRUDE OIL SOLD UPFRONT LOOTED BY BUHARI’S GOVERNMENT Some members of the Mohammadu Buhari’s administration sold upfront, a one year crude oil production of about 468million barrels worth $32.7billion at $70 per barrel and never remitted into the Federation Account. A security report being put together indicated that the funds were distributed into several private accounts. Investigations into the matter are ongoing. Those behind would soon be revealed, according to a Government source. A Reuters report in January 2023 said NNPC did not remit funds to federal accounts last year, its data showed, leaving a hole in public finances at a time when the government has been warning that low revenues and large deficits left it unable to stimulate the economy. NOTE: This is the corrected version from the earlier post.
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