Nigeria losing up to ₦20trn annually to revenue

Nigeria is estimated to lose as much as ₦20 trillion (about $50 billion) each year from revenue leakages. The losses stem mainly from widespread tax evasion, under‑declaration of oil and gas royalties, corruption in public procurement, weak enforcement of customs and excise duties, and the diversion of public funds. These gaps significantly undermine the federal budget, limit spending on infrastructure and social services, and contribute to the country’s fiscal deficits. Efforts to curb the loss focus on improving tax administration, tightening controls on oil revenue, enhancing transparency in government contracts, and strengthening anti‑corruption institutions. Views Nigeria