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The effects of illicit financial flows on oil and gas revenue generation in Nigeria

Author

Listed:
  • Bello Umar
  • Zayyanu Mohammed

Abstract

Purpose - The purpose of this study is to determine the extent illicit flows affect the oil and gas revenue generation in Nigeria specifically the activities concerning oil theft. Design/methodology/approach - A qualitative approach using a systematic quantitative assessment technique was used to select peer-reviewed articles and reports that discussed crude oil theft in Nigeria. This was followed by the use of empirical evidence and content analysis. Findings - Crude oil theft in Nigeria accounts for 10% of illicit financial flows (IFFs) from Africa annually and this amounts to US$6bn annually. Research limitations/implications - Oil theft is a new subject area of public policy and academic research; data, secondary literature and peer-reviewed journal articles are limited. This paper was from the public sector perspective only. Originality/value - This study is one of the few works to highlight the connection between crude oil theft and IFFs.

Suggested Citation

  • Bello Umar & Zayyanu Mohammed, 2020. "The effects of illicit financial flows on oil and gas revenue generation in Nigeria," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 24(1), pages 177-186, December.
    • Handle: RePEc:eme:jmlcpp:jmlc-07-2020-0081
    DOI: 10.1108/JMLC-07-2020-0081
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