Nigeria losing up to ₦20trn annually to revenue

Nigeria is estimated to lose up to ₦20 trillion (about $50 billion) each year in revenue due to corruption, tax evasion, oil theft, customs fraud, and weak fiscal enforcement. The losses stem from illicit financial flows, under‑reporting of oil production, mismanagement of public funds, and inadequate collection of taxes and duties, severely undermining the country’s budget and development spending. Views Nigeria