MOSOP reveals how Nigeria lost N2.8billion daily to Shell prior to its shutdown in Ogoniland

Movement for the Survival of the Ogoni People (MOSOP) says the Shell Petroleum Development Company of Nigeria, a subsidiary of Shell International lied about its production capacity in Ogoniland before it shut down operations in 1993.

The publicity secretary of  MOSOP, Fegalo Nsuke, who made this known during an interactive session with leaders of the National Youth Council of Ogoni People (NYCOP) in Bori, headquarter of Khana local government area of Rivers state said before Shell shut down its operations in Ogoniland in 1993, the company failed to account for daily output of 157,000 barrels.

Nsuke said available statistics show that while Shell claimed its production capacity in Ogoniland was 28,000 barrels per day, the company was actually producing 185,000 barrels per day.

The MOSOP spokesperson said these facts show that Nigeria lost over N2.8billion ($7,850,000), per day at an exchange rate of N360 to a dollar and presuming that oil sold at $50 to a barrel.

Nsuke said it was unfortunate that neither the Nigerian legislature, the federal government nor any of the anti-corruption agencies has been courageous to investigate this corruption which went on for a very long time.

“We have seen that Shell is more powerful than the Nigerian government and this is one instance of that overwhelming influence over Nigeria. How can the government be silent over a $7.8million daily loss to an irresponsible third party,” he said.

If Nigeria were to be diligent and strongly committed to citizens’ happiness, Shell would have been shown the way out of this country long ago, Nsuke said.

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