By Dimeji Akinloye: 4 March 2016
The federal government has reportedly filed lawsuits against multinational oil corporations – Shell, Chevron, Agip and other major oil companies for failing remit N2 trillion crude oil revenue.
The revenue not declared between 2011 and 2014, according to Ynaija, runs into over 57 million barrels of crude oil shipments.
As contained in the lawsuits, which were filed on Thursday, March 3, at a Federal High Court in Lagos, the decline in crude oil revenue recorded in 2014 “necessitated an intelligence based gathering of data, which showed that part of the reasons for the decline in the revenue from crude oil exploration was the refusal to declare and/or under-declaration of crude oil shipments”.