Nigeria will start selling and
buying oil and gasoline directly to cut out middlemen and curb graft,
the new managers of the Nigerian National Petroleum Corp. announced
Tuesday night.
The major
policy shift fits new President Muhammadu Buhari's plan to halt
corruption endemic in the industry in Africa's biggest oil producer. The
previous administration of President Goodluck Jonathan had ignored
warnings from Central Bank Governor Lamido Sanusi that some $20 billion
in oil sales over three years was missing from federal coffers, and
instead fired Sanusi.
Nigeria
produces 2 million barrels of crude a day, according to
the
corporation's website. Nigerians consume about 9 million liters (2.4
million gallons) of gas daily, almost all imported because local
refineries are inefficient. One barrel of crude produces about 30
gallons of diesel or fuel. (s: Michelle Faul)
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