It might not have come as a surprise to those who follow murky Nigerian politics that its attorney-general and justice ministry want international oil companies to pay $62bn (about R941bn) in outstanding revenues.

Ostensibly, Nigeria is pulling its shakedown playbook on oil majors such as Chevron, Royal Dutch Shell and Total for shortchanging the government under a revenue-sharing agreement struck in the 1990s.  

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now