Oil reforms could cost Nigeria $3bn a year: Agency

Author: 
ASSOCIATED PRESS
Publication Date: 
Tue, 2011-08-16 17:19

The Nigeria Extractive Industries Transparency Initiative says the proposals are “designed to bend the bill to serve foreign rather than Nigerian interests.”
The agency requested a meeting with lawmakers in their statement.
The agency says the draft also removes a section that emphasized transparency in the lucrative industry that has failed to better the lives of ordinary Nigerians.
Various versions of the bill have been drafted over many years, and its latest version has languished for months in Nigeria’s National Assembly.
Nigeria is a top supplier of crude to the US.

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