Nigeria’s National Security Adviser (NSA), Mallam Nuhu Ribadu, has revealed that the country is still losing 400,000 barrels of crude oil every day to theft, both locally and internationally.
Ribadu made the announcement during an inspection of oil and gas facilities in Abia and Rivers states.
The NSA emphasized that these losses are not just numbers; they have a real impact on the nation’s economy.
“The activities of oil thieves and pipeline vandals had impacted negatively on the nation’s economy and were partly responsible for the rising cost of living in the country,” Ribadu said.
He said, “It’s unfortunate that few individuals would steal our common resources, and in the process cause unbelievable loss to both the nation, communities and the 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.
