The Nigerian government has revealed that over N4.3 trillion worth of crude oil was lost to oil theft in 7,143 pipeline vandalism cases within five years. This startling figure was disclosed at the Nigeria International Pipeline Technology and Security Conference in Abuja, highlighting the severe impact of oil theft on the nation’s economy. In a presentation at the conference, the Nigeria Extractive Industries Transparency Initiative (NEITI), a government agency, painted a grim picture of the oil theft situation, labeling it a “national emergency.” READ ALSO: South Sudan Floods Leave 1.6m Children At…
Read MoreN4.3bn Worth of Nigerian Crude Oil Stolen In 5 Years – NEITI
