Politics

Dangote, Monopoly Power, and Political Economy of Failure

BY BLAISE UDUNZE Nigeria’s refining crisis is one of the country’s most enduring economic contradictions. Africa’s largest crude oil producer, strategically located on the Atlantic coast and home to over 200 million people, has for decades depended on imported refined petroleum products. This illogicality has drained foreign exchange, weakened the …

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Senate Uncovers $303bn Crude Oil Theft, Orders Further Probe

The Nigerian Senate has uncovered large-scale financial discrepancies in the oil sector, revealing that about $303 billion was allegedly stolen from local and international crude oil transactions. The revelation came through the Senate Committee on Investigating Incessant and Nefarious Acts of Crude Oil Theft in the Niger Delta, which said …

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