Goodluck Jonathan says he wants to reform the oil industry. Really?
IN AUGUST Nigeria announced that oil production had reached a record
2.7m barrels a day but few experts believed it. Oil is also being stolen
at a record rate and traders’ figures show output at well below the
government’s figures. Information about Africa’s biggest oil industry is
an opaque myriad of numbers. No one knows which ones are accurate; no
one knows how much oil Nigeria actually produces. If there were an
authoritative figure, the truly horrifying scope of corruption would be
exposed.
The finance
minister, Ngozi Okonjo-Iweala, a genuine reformer, has estimated that
400,000 barrels of oil a day were stolen in April. But different
government ministries give conflicting figures on how much oil Nigeria
is producing, suggesting that they cannot agree or they just do not
know. Nigeria could measure how much it produces, say experts: it has
some of the most advanced technology in the world to do so, but chooses
not to.