• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Home Security NSA Ribadu Raises Alarm over Nigeria’s Loss of 400,000 barrels of Crude...
  • Security

NSA Ribadu Raises Alarm over Nigeria’s Loss of 400,000 barrels of Crude Oil daily

By
Prnigeria
-
August 27, 2023
nuhu ribadu
nuhu ribadu

NSA Ribadu Raises Alarm over Nigeria’s Loss of 400,000 barrels of Crude Oil daily

The National Security Adviser (NSA), Malam Nuhu Ribadu, says the country is still losing 400,000 barrels of crude oil daily to local and international thieves despite efforts to end the menace.

Ribadu confirmed this when he led a presidential delegation to inspect oil and gas facilities at Owaza in Abia and Odogwa in Etche Local Government Area of Rivers.

He said the activities of oil thieves and pipeline vandals had impacted negatively on the nation’s economy and were partly responsible for the rising cost of living in the country.

“It’s unfortunate that few individuals would steal our common resources, and in the process cause unbelievable loss to both the nation, communities and the people.

“Nigeria has the capacity to produce 2 million barrels of crude daily, but we are currently producing less than 1.6 million barrels due to theft and vandalism of pipelines.

“So, we are talking about 400,000 barrels of crude oil going to waste with few criminals and economic saboteurs not even getting much out of it,” he said.

Ribadu said the operators of artisanal refineries collect a small quantity of crude oil when they broke the pipelines while larger volumes of oil were spilled on the environment.

“The value of 400,000 barrels of oil today is about 4 million dollars, and every day, we lose this amount because of this irresponsible behaviour.

Read Also:

  • Aisha Babangida Seeks Actionable Gender Reforms, as Women Entrepreneurs Share ₦10m WenA Awards
  • CDS Hails DEPOWA’s Grassroots Sports Drive, Calls It Seedbed for Future Champions
  • How Troops Crippled Terrorists, Bandits, and Oil Thieves in Nationwide Operation

“If you multiply 4 million dollars by 365 days (one year), you will see that it is a lot of money running into billions of dollars.

“Currently, the country is in desperate need of money as the Naira is continuously losing its value because we earn less money.

“If we earn more money, it will not only help strengthen our currency but reflect in everything, including cost of living in the country,” he added.

The NSA said that the President Bola Tinubu administration was concerned about the development and was already taking actionable steps to address the matter.

He said huge investments made by the government in building infrastructures for the common good of all were being destroyed by few individuals, and in the process, destroying the environment.

Ribadu called for a united front to tackle oil theft and end decades of attacks on the nation’s oil and gas infrastructures.

“We are working hard with the security forces and those employed by the Nigerian National Petroleum Company (NNPC) Limited to secure our facilities and end this madness called oil theft,” he said.

On the presidential delegation with the NSA were the Minister of Defence, Baduru Abubakar, and Chief of Defence Staff (CDS), Gen. Christopher Musa.

Others included the Chief of Air Staff (CAS), Air Marshal Hassan Abubakar; Minister of State for Defence, Bello Matawalle, and Minister of State (Oil), Petroleum Resources, Heineken Lokpobiri.

The Minister of State (Gas), Petroleum Resources, Ekperipe Ekpo, and senior management officials of the NNPCL as well as other top security personnel were part of tbe team.

By PRNigeria

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Christopher Musa
  • Ekperipe Ekpo
  • Malam Nuhu Ribadu
Previous articleJoint Military Training: The Elixir for Fight Against Insecurity
Next articleRe: Personal Statement on My NYSC Status as a Serving Minister — Hannatu Musawa
Prnigeria
Prnigeria
Xing

RELATED ARTICLESMORE FROM AUTHOR

L-R: Partner Seismic Consultant, Dr Olusoji Adeniyi; Senior Special Assistant to the President on Entrepreneurship Development, Chalya Shagaya; Founder of Women Enterprise alliance (WenA), Her Excellency Hajia Aisha Babangida; Head Fiscal and Tax Reforms Implementation FIRS, Olufemi Olarinde; during the 5th WenA Conference in Abuja.

Aisha Babangida Seeks Actionable Gender Reforms, as Women Entrepreneurs Share ₦10m WenA Awards

Gen. Christopher Gwabin Musa CDS

CDS Hails DEPOWA’s Grassroots Sports Drive, Calls It Seedbed for Future Champions

The Director of Defence Media Operations, Major-General Markus Kangye,

How Troops Crippled Terrorists, Bandits, and Oil Thieves in Nationwide Operation

Protest Will Jeopardize Peace Efforts for Kanu’s Freedom, Igbo Leaders Warn

Military Arrests IPOB Female Logistics Supplier in Abia, Rescues 30 Hostages Nationwide

Military Troops in Action

Military Neutralizes Armed Criminal in Benue, Arrest Suspected Gunrunner in Nasarawa

Police Officer

Police Arrest 11 Suspected Armed Robbers Along Katsina–Kano Highway

Nnamdi Kanu of IPOB arrested by Nigerian security services

Nnamdi Kanu Fit to Face Trial — NMA Tells Court

NSCDC Foils Kidnap Attempt on Customs Officer, Eliminates 2 Suspects, Arrests Others

Bayo Onanuga

ANALYSIS: What Is the Job of a Presidential Spokesman?

NSCDC Rescues Abducted Victims, Arrests 70 Suspects for Various Crimes in Edo

Military troops

Troops Eliminate Armed Criminal in Benue, Nab Gunman at Nasarawa Market

Recent Posts

  • Aisha Babangida Seeks Actionable Gender Reforms, as Women Entrepreneurs Share ₦10m WenA Awards
  • CDS Hails DEPOWA’s Grassroots Sports Drive, Calls It Seedbed for Future Champions
  • How Troops Crippled Terrorists, Bandits, and Oil Thieves in Nationwide Operation
  • Protest Will Jeopardize Peace Efforts for Kanu’s Freedom, Igbo Leaders Warn
  • Military Arrests IPOB Female Logistics Supplier in Abia, Rescues 30 Hostages Nationwide
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Aisha Babangida Seeks Actionable Gender Reforms, as Women Entrepreneurs Share ₦10m WenA AwardsCDS Hails DEPOWA’s Grassroots Sports Drive, Calls It Seedbed for Future ChampionsHow Troops Crippled Terrorists, Bandits, and Oil Thieves in Nationwide OperationProtest Will Jeopardize Peace Efforts for Kanu’s Freedom, Igbo Leaders WarnMilitary Arrests IPOB Female Logistics Supplier in Abia, Rescues 30 Hostages NationwideMilitary Neutralizes Armed Criminal in Benue, Arrest Suspected Gunrunner in NasarawaEXPLAINER: The Truth Behind NDLEA’s Position on Cannabis Oil By Arafat A. AbdulrazaqNigeria Wins Two Major Global Awards for Digital Governance at OGP Summit in SpainPolice Arrest 11 Suspected Armed Robbers Along Katsina–Kano HighwayNnamdi Kanu Fit to Face Trial — NMA Tells CourtSenate approves appointment of Amupitan as INEC chairNSCDC Foils Kidnap Attempt on Customs Officer, Eliminates 2 Suspects, Arrests OthersANALYSIS: What Is the Job of a Presidential Spokesman?NSCDC Rescues Abducted Victims, Arrests 70 Suspects for Various Crimes in EdoFG Begins Data-Driven Reform of Civil Service Through PASGA Project
X whatsapp