Nigeria losing up to ₦20trn annually to revenue

Nigeria is estimated to lose up to ₦20 trillion (about $52 billion) each year in revenue due to widespread tax evasion, customs fraud, illegal oil exports, corruption, and weak enforcement of fiscal laws. The losses stem from under‑declaration of imports, illicit oil bunkering, mismanagement of public funds, and inadequate collection mechanisms across federal, state and local governments. Efforts to curb the leak include tax reforms, digitisation of customs, stricter monitoring of oil pipelines and stronger anti‑corruption measures. Views Nigeria