Nigeria is losing $2bn to vandals every month – NNPC


Nigerian National Petroleum Company (NNPC) Limited says the country loses about $2 billion monthly to the activities of oil vandals, with its attendant effect on environmental degradation.

The Group Chief Executive Officer (GCEO), Mele Kyari, disclosed this, on Monday, August 8, in Asaba, Delta State, during a meeting with Governor Ifeanyi Okowa.

Kyari said Nigeria hardly met Organisation of the Petroleum Exporting Countries (OPEC) production quota of 1.99 million barrels per day with the current production level of 1.4mbpd barrels per day, which is being threatened by the activities of the economic saboteurs.

According to him, “This has done extensive damage to the environment, and losing $1.9 billion every month is colossal, considering the nature of the global economy at the moment.

Stopping this oil theft requires the concerted efforts of the federal and state governments, as well as oil companies and security agencies.”