The National Security Adviser to President Tinubu, Malam Nuhu Ribadu has expressed his regrets as he describes how Nigeria still loses 400,000 barrels of crude oil due to oil theft from both local and international criminals - he is vexed that even at the measures placed to destabilize their efforts, they still get away with their crimes.
Ribadu made this statement on Saturday when he went on a visit to inspect the oil and gas facilities at Owaza in Abia and Odogwa in Etche Local Government Area of Rivers.
He further added that the activities of oil theft and pipeline vandals have negatively impacted the country's economy and also contributed to the rising cost of living in the country.
He stated,
- It’s unfortunate that a few individuals would steal our common resources, and in the process cause unbelievable loss to the nation, communities and people.
- Nigeria has the capacity to produce 2 million barrels of crude daily, but we are currently producing less than 1.6 million barrels due to theft and vandalism of pipelines.
- So, we are talking about 400,000 barrels of crude oil going to waste with few criminals and economic saboteurs not even getting much out of it.
Read more: https://www.investingport.com/niger...-day-to-oil-thieves-and-pipeline-vandals-nsa/