By Nurat Uthman
According to the National Security Adviser (NSA), Malam Nuhu Ribadu, despite efforts to stop it, the country is still losing 400,000 barrels of crude oil per day to both local and international thieves.
Ribadu confirmed this during a visit to inspect oil and gas facilities in Abia and Rivers.
He expressed concern about the negative impact of oil theft and pipeline vandalism on the nation’s economy, contributing to the rising cost of living.
Ribadu emphasized that Nigeria has the capacity to produce 2 million barrels of crude daily, but due to theft and vandalism, it is currently producing less than 1.6 million barrels.
He highlighted the significant financial loss of 400,000 barrels of oil, equating to about 4 million dollars per day, which amounts to billions of dollars in a year. Ribadu urged for a united effort to combat oil theft and protect the nation’s oil and gas infrastructure.
The government is taking action to address the issue and secure facilities.