Malam Nuhu Ribadu, the National Security Adviser (NSA), has highlighted that despite ongoing efforts to curb the issue, Nigeria continues to lose 400,000 barrels of crude oil daily to both local and international thieves. Ribadu conveyed this information while leading a presidential delegation to inspect oil and gas facilities in Owaza, Abia, and Odogwa, Etche Local Government Area of Rivers State.
He lamented that the actions of oil thieves and pipeline vandals have had a detrimental impact aton the national economy and have contributed to the increasing cost of living in the country. Ribadu expressed his disappointment that a small number of individuals could pilfer the nation’s shared resources, leading to substantial losses for both the country and its citizens.
While Nigeria possesses the capacity to produce two million barrels of crude oil each day, the actual production has been reduced to under 1.6 million barrels due to the rampant theft and pipeline vandalism. He said that this means that approximately 400,000 barrels of crude oil are being wasted due to the activities of a few criminals and economic saboteurs, yielding minimal benefits for them.
Ribadu emphasized that the administration under President Bola Tinubu is deeply concerned about this situation and is actively taking measures to address the problem. He urged for a unified approach to combat oil theft and to finally put an end to decades of attacks on the country’s oil and gas infrastructure.
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