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PRNIGERIA PRNigeria News
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    • Peter Afunanya DSS Spokesperson

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        President Bola Ahmed Tinubu. Photo: Twitter

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        President Bola Ahmed Tinubu

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    • Zamfara bandits eliminated

      PHOTOS: Troops Sustain Eliminations of Bandits, Rescue Kidnapped Victims in Zamfara

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    • Nafisat Bello, Fom Gyem, Rahma Oladosu and Mrs Yushau Shuaib

      TRAVELOGUE PHOTOS: The Emotional Rollercoaster to APRA 2023 in Lusaka

      Gen Samuel Adebayo CDI

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    Nigeria may lose $23bn to oil theft in 2023, says Monguno

    By
    Prnigeria
    -
    December 6, 2022
    Babagana Monguno NSA
    Babagana Monguno NSAMonguno, NSA

    Nigeria may lose $23bn to oil theft in 2023, says Monguno

    Babagana Monguno, the national security adviser, says the federal government may lose $23 billion in 2023 if crude oil theft continues.

    He said this on Tuesday during the inauguration of a special investigation panel set up to check crude oil theft in the country.

    Monguno expressed worries that the country currently produces one million barrels of crude oil per day as against the two million barrels daily target by the Organisation of Petroleum Exporting Countries (OPEC).

    While lamenting the poor revenue accruing from the oil sector, he charged members of the committee to work towards reducing the menace.

    The committee is expected to submit its report by February 21, 2023.

    The issue of oil theft has remained a source of concern to the government, with huge revenue diverted to the pockets of the perpetrators.

    The Nigerian National Petroleum Company had raised alarm over the level of revenue loss to oil theft.

    “Every two days, you are talking of almost $150 million down the drain, that’s what the nation is losing as we speak,” the national oil company had said.

    The senate committee investigating oil theft and its consequent damage to the country’s economy had said  Nigeria lost N1.3 trillion ($2 billion) to oil theft between January and August 2022.

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had said about 1.2 million barrels of oil are shut-in consistently due to the menace in the country.

    guest blogging agency

    Kidnapped School Children

    Yauri FGC Students, Kebbi (Freed)
    The last victims released spent 707 days from June 17, 2021 - May 25, 2023


    Baptist School Students, Kaduna
    698 days 14 hours 43 minutes 51 seconds

    Tegina Islamiya Pupils, Niger (Freed)
    Spent 88 days from May 30, 2021 - August 26, 2021


    Report By: PRNigeria.com

     
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