The National Security Adviser (NSA), Malam Nuhu Ribadu, on Saturday, has declared that the country is losing about 400,000 barrels of crude oil daily to local and international thieves.
Ribadu who made this known after leading a presidential delegation to inspect oil and gas facilities at Owaza in Abia and Odogwa in Etche Local Government Area of Rivers State, said despite efforts to end the menace, 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.
In his words:
“It is 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 two 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’re talking about 400,000 barrels of crude oil going to waste with few criminals and economic saboteurs not even getting much out of it,” he added.
The former EFCC Chairman said that the Federal Government was concerned about the development and is currently taking steps to address the matter.
Ribadu also called for a united front to tackle oil theft and end decades of attacks on the nation’s oil and gas infrastructures.
