Nigeria lost $100bn to foreign crude tankers – NCDMB

The Nigerian economy lost over $100bn in its 50 years of commercial oil production by allowing its crude to be carried exclusively by foreign owned tankers, the Executive Secretary of the Nigerian Content Development and Monitoring Board, Mr. Ernest Nwapa has said.

Speaking at the launch of two brand new 45,000 metric tonnes tanker vessels, MT Abiola, and MT Igbinosa, by an indigenous firm, Ocean Marine Tankers (OMT), Nwapa said the country also lost opportunities to build a virile national carrier fleet on the back of the hundreds of millions of barrels exported every year.

– See more at: http://www.vanguardngr.com/2013/09/nigeria-lost-100bn-to-foreign-crude-tankers-ncdmb/#sthash.eROk3UCY.dpuf

About Author: Integrity Org

Integrity Organization is committed is an anti-corruption, research and advocacy organization. Its activities are centered on the aim to reduce the tolerance for corruption in Nigeria.

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