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Journal of Academics Stand Against Poverty

Academics Stand Against Poverty

Journal of Academics Stand Against Poverty (Journal of ASAP) is an open access international multidisciplinary journal published under the ISSN 2690-3458 (electronic edition) and ISSN 2690-3431 (print edition) by Academics Stand Against Poverty, a non-profit organization based in United States (EIN # 32-0324998).  Its mission is to publish high-quality work that can make genuine contributions to understanding and eradicating poverty and its effects in the real world. Such work will address the structural causes of poverty with an eye to the special challenges poor people face in such areas as nutrition, water, shelter, health and health care, sanitation, clothing and personal care, energy, education, social and political participation and respect, physical safety, family planning, environmental degradations and hazards, working conditions in employment and at home, navigating governmental agencies and the legal system, banking and credit, travel and transportation, and communications.  Journal ASAP is committed to ensuring that perspectives of the poor are adequately represented on its pages, and that these pages are accessible to all. The journal makes substantial efforts to include voices from the global South as well as from non-elite educational institutions and from organizations, agencies and communities that are working toward poverty eradication. It also aims for the widest possible reach by being entirely open-access: its one/two issues each year are free for download anywhere in the world without any requirement to provide personal information. Journal ASAP invites submission of original work and maintains a rigorous double-blind peer review system that provides constructive feedback to assist authors in presenting their work in a way that is clear, broadly accessible and practically useful. Journal ASAP is a pure Open Access Journal and allows the author to retain the copyright in their articles. Articles are made available under a Creative Commons licence (CC-BY) to allow others to freely access, copy and use research provided the author is correctly attributed.

Journal of Academics Stand Against Poverty

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Article recordVersion of recordOpen accessVol 3 No 1August 17, 2026

Oil Wealth and Illicit Financial Flows in Nigeria’s Petroleum Sector

It is quite phenomenon that natural resources of most developing nations today have become a driving force for sustained poverty, armed conflict, and illicit financial flows (IFFs). Against this background, this paper p…

Contributors

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  • Oluebube Christopher Offor

    Price Waterhouse Coopers (PwC), Lagos, Nigeria

Abstract

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It is quite phenomenon that natural resources of most developing nations today have become a driving force for sustained poverty, armed conflict, and illicit financial flows (IFFs). Against this background, this paper presents a detailed analysis of this phenomenon and seeks to assess the intersection between natural resources and illicit capital outflows with Nigeria’s oil economy acting as a dominant theme of discussion. Despite being the richest oil-producing country, with other abundant natural resources in Africa, the paradox remains that Nigeria operates a weak mono-economy with many of its citizens living in abject poverty. This paper reveals that Nigeria’s oil and gas sector is a landmark for money laundering, corruption, tax evasion, and oil spills which prevents the nation from achieving the 2030 sustainable development goals. This problem is due to enthroned corruption by Nigerian public officials, weak institutions, non-policy implementation, corrupt tax agencies, and noncompliance with petroleum laws. The study recommends that the international communities should achieve a collective reform on transfer pricing policies, while the Nigerian government should achieve a transparent mechanism for disclosing beneficial ownership and as well digitalized anti-money laundering activity.

Keywords

Paradox of PlentyIFFsOil theftCrude oilNigeria

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