An oil and gas trading company, Samano SA DE CV, recently accused officials of the Nigerian National Petroleum Corporation and other personnel of the federal government of stealing a whopping 48 million barrels of the country’s Bonny Light crude oil, for sale illegally.
Nigeria’s oil resources are managed by the NNPC on the basis of trust. This trust must be adhered to at all times and in all circumstances. Therefore, there is a need for full disclosure on this particular case. This is more so given recent official reports. For instance, Nigeria, according to the NNPC in August 2019, lost as much as 22 million barrels of oil to theft in the first half of last year.
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