The National Security Adviser (NSA) Nuhu Ribadu, has made it known that the country is still losing an alarming 400,000 barrels of crude oil per day to both domestic and international thieves despite the ongoing efforts to combat oil theft.
This was revealed over the weekend during an inspection of oil and gas facilities in Abia and Rivers state respectively.
Ribadu revealed that oil theft and pipe vandalism have had a detrimental effect on Nigeria’s economy contributing to the rising cost of living for it’s citizens.
According to him, “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.’’
“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,” He said.
Ribadu however assured Nigerians that the administration of President Bola Tinubu is taking a swift action to address the issue. He urged a collaborative effort to put an end to the epidemic of oil theft and the seemingly endless attacks on Nigeria’s oil and gas infrastructure.