The National Security Adviser (NSA), Malam Nuhu Ribadu, has revealed that Nigeria continues to lose a staggering 400,000 barrels of crude oil daily to both local and international thieves, despite ongoing efforts to combat this menace.
Ribadu made this disheartening disclosure during a recent inspection of oil and gas facilities in Owaza, Abia, and Odogwa, Etche Local Government Area of Rivers State, where he led a presidential delegation.
The NSA emphasized that the activities of oil thieves and pipeline vandals have taken a severe toll on the nation’s economy and have contributed significantly to the rising cost of living in the country.
He lamented, “It is unfortunate that a handful of individuals can plunder our shared resources, causing immense losses to our nation, communities, and our citizens.”
Nigeria possesses the capacity to produce up to two million barrels of crude oil daily.
However, due to rampant theft and vandalism of pipelines, the current production has fallen to less than 1.6 million barrels.
Ribadu underscored the gravity of the situation, stating, “We are witnessing a staggering 400,000 barrels of crude oil being wasted, benefiting only a small number of criminals and economic saboteurs.”
Ribadu went on to reassure the public that President Bola Tinubu’s administration is deeply concerned about this issue and is actively taking measures to address it.
He called for unity among all stakeholders to combat oil theft and put an end to decades of attacks on the nation’s oil and gas infrastructure.
The ongoing loss of such a significant amount of crude oil has grave implications not only for Nigeria’s economy but also for its citizens, who bear the brunt of the resulting economic challenges.
As the government takes action to curb this menace, the nation watches and hopes for a brighter future where its vast oil resources can be harnessed for the benefit of all.