The National Security Adviser, NSA, Nuhu Ribadu, explained that Nigeria loses about 400,000 barrels of crude oil every day to both local and international thieves.
Ribadu made this known during an inspection of oil and gas facilities at Owaza in Abia and Odogwa in Etche Local Government Area of Rivers State.
Ribadu furthered that stealing of oil and vandalisation of pipeline negatively affected the nation’s economy, leading to 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.
He maintained that President Bola Tinubu is committed to the development and also making efforts to address the issue.
The NSA boss called for concerted efforts to address the menace of oil theft and vandalisation of the nation’s oil and gas infrastructures.
