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Nigeria still losing 400,000 barrels of crude oil daily, says Ribadu

By Guardian Editor
28 August 2023   |   3:18 am
National Security Adviser (NSA), Nuhu Ribadu, at the weekend, 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…

Mallam Nuhu Ribadu

National Security Adviser (NSA), Nuhu Ribadu, at the weekend, 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 council of Rivers State.

According to him, activities of oil thieves and pipeline vandals had impacted negatively on the nation’s economy and were partly responsible for 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 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 vandalisation of pipelines.’’

L-R: Minister of state for Petroleum Resources (Oil), Heineken Lokpobiri; National Security Adviser, Nuhu Ribadu; Rivers State Governor, Siminalayi Fubara; Minister of Defence, Mohammed Badaru; and Minister of State for Defence, Bello Matawalle, during a security delegation on national issues relating to oil assets and investments led by the NSA in Port HarcourtÖ on Saturday. Photo: Ministry of Defence

“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 the President Bola Tinubu administration is concerned about the development and is already taking actionable steps to address the matter.

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

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