Nigeria Loses 481 Billion Naira To Oil Theft - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
September 19, 2019
Nigeria has lost 22.6 million barrels at oil to the activities of petroleum pipeline vandalism and stealing of crude oil in the first six months of this year.
The quantity lost is estimated at $1.35 billion (N481.95 billion
This was disclosed to State House correspondents by Edo State Governor, Godwin Obaseki, at the end of the National Economic Council meeting chaired by Vice President Yemi Osinbajo.
Ifthe loss is not checked, he said that Nigeria will lose $2.7 billion by the endof the year.
To check the trend, he said his committee recommended to the Council the need to restructure the maintenance and ownership of pipelines in the country.
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Therecommendations, he said, also included prosecution of criminals and creationof special court to handle the cases.
Accordingto Obaseki, the Council resolved that the recommendations should be forwardedto President Muhammadu Buhari, who is the Minister of Petroleum.