Nigeria Loses 400K Daily Oil Barrels to Criminals – Ribadu

Nuhu Ribadu, the National Security Adviser (NSA), has brought to light a staggering revelation – Nigeria is currently witnessing a dire loss of 400,000 barrels of crude oil each day due to criminal activities and economic sabotage. Ribadu, at the helm of a presidential delegation, conducted an inspection of the oil and gas facilities at Owaza in Abia and Odogwa in Etche LGA of Rivers on August 26th. He expressed concern that the nation’s economy is suffering a severe blow due to oil criminals who have orchestrated a significant decline in crude oil production across the country.

In addition to the detrimental impact on crude production, Ribadu highlighted the extensive damage to government infrastructure through vandalism. The presence of artisanal refineries in host communities has also taken a toll on the environment.

Ribadu lamented, “It’s disheartening to witness a handful of individuals pilfer our collective resources, leading to unimaginable losses for the nation, communities, and our citizens. Although Nigeria has the capacity to produce 2 million barrels of crude oil daily, our current output stands at less than 1.6 million barrels due to the pervasive theft and pipeline vandalism.”

The NSA further elaborated, “Consequently, we’re witnessing a tragic waste of 400,000 barrels of crude oil every single day. The current value of these 400,000 barrels is estimated at approximately 4 million dollars. Regrettably, this irresponsible behavior translates to a staggering financial loss. When you multiply 4 million dollars by 365 days – a full year – the sum escalates into billions of dollars.”

In the face of these alarming statistics, the urgent need to combat oil-related criminal activities and safeguard the nation’s resources becomes paramount. The economy’s stability and the livelihoods of countless individuals are at stake, prompting a call to action against these detrimental practices.


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