Nigeria Still Losing 400,000 Barrels of Crude Oil Daily Under Tinubu

The National Security Adviser (NSA), Malam Nuhu Ribadu, on Saturday said Nigeria is still losing 400,000 barrels of crude oil daily to local and international thieves despite efforts to end the menace.

Ribadu disclosed this when he led a presidential delegation to inspect oil and gas facilities at Owaza in Abia and Odogwa in Etche Local Government Area of Rivers State.

According to him, 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.

“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,” Ribadu said.

“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.

Ribadu also said that the President Bola Tinubu administration was concerned about the development and was already taking actionable steps to address the matter.

The NSA called for a united front to tackle oil theft and end decades of attacks on the nation’s oil and gas infrastructures.