A RECENT report from the Sea Empowerment Research Centre has raised concerns about alleged collusion between international shipping lines and nigerian oil bunkering cartels, leading to significant revenue losses for Nigeria, reports Ibadan's Nigerian Tribune.
According to the centre, illegal practices like ship-to-ship oil transfers and fake documentation are contributing to the country's loss of US$1-2 billion annually.
This collusion reportedly enables the transportation and sale of stolen oil, further complicating efforts to curb oil theft and illicit trade activities in Nigerian waters.
The centre called for more stringent oversight and legal frameworks to address these illegal practices.
SeaNews Turkey
According to the centre, illegal practices like ship-to-ship oil transfers and fake documentation are contributing to the country's loss of US$1-2 billion annually.
This collusion reportedly enables the transportation and sale of stolen oil, further complicating efforts to curb oil theft and illicit trade activities in Nigerian waters.
The centre called for more stringent oversight and legal frameworks to address these illegal practices.
SeaNews Turkey
