CLEAN : Five percent of Nigerias oil output stolen

The video discusses the significant economic and environmental impact of oil theft in Nigeria, which accounts for about 5% of the country's export levels in 2012. The high oil prices make it a lucrative business, leading to stolen proceeds and environmental damage. The financial systems of other countries could be compromised due to this illegal trade. The video suggests that sharing intelligence with foreign governments is crucial to tackling this issue. It also compares the scale of oil theft in Nigeria with other countries, highlighting that only Russia has a comparable scale.

What percentage of Nigeria's export levels in 2012 is affected by oil theft?

• 10%

• 5%

• 15%

• 2%

Why has oil theft become a lucrative business after 2000?

• Government subsidies

• Technological advancements

• Increase in oil prices

• Decrease in oil demand

What is a potential consequence of oil theft on international financial systems?

• Compromise of banks and refiners

• Decreased foreign investments

• Increased interest rates

• Higher taxes

What is suggested as the best way forward to combat oil theft?

• Reducing oil prices

• Sharing intelligence with foreign governments

• Increasing oil production

• Implementing stricter local laws

Which country, besides Nigeria, has a significant scale of oil theft?

• Saudi Arabia

• Brazil

• Russia

• Venezuela