Malam Nuhu Ribadu, the NSA, claimed on Saturday that despite efforts to stop the problem, Nigeria continues to lose 400,000 barrels of crude oil daily to local and foreign thieves.
When he led a presidential delegation to tour the oil and gas installations in Owaza, Abia, and Odogwa, Etche Local Government Area, Rivers State, Ribadu revealed this.
He claimed that pipeline vandals and oil thieves’ actions had a detrimental effect on the economy of the country and were partially to blame for the country’s rising cost of living.
“It is unfortunate that a small number of people would steal our common resources, causing incredible loss to the country, communities, and people in the process,” Ribadu added.
“Nigeria has the ability to produce two million barrels of oil per day, but due to pipeline theft and vandalism, we currently produce fewer than 1.6 million barrels everyday.
Therefore, he continued, “400,000 barrels of crude oil are being wasted with only a few crooks and economic saboteurs not even getting much out of it.
The President Bola Tinubu government, according to Ribadu, was likewise concerned about the situation and was already taking appropriate action to solve it.
In order to combat oil theft and put a stop to years of attacks on the country’s oil and gas infrastructures, the head of the NSA called for a united front.Nuhu Ribadu’s rude oil everyday
