As the federal government of Nigeria has continued to fight oil bunkering in the region of the Niger Delta, the Nigerian National Petroleum Corporation, NNPC said Nigeria has lost about 22million barrels of crude oil the theft in the first half of the year 2019, a report that poses a serious threat to the economy.
Accordingly, the stolen oil amount to about 120,000 barrels per day (bpd) or put it at 6% of the daily output is being lost.
Oil account for about 90% of the Nigeria foreign exchange and the larger part of the government revenue, oil theft has continued to be the nightmare of the government as the crime has continued unabated for decades.
Mr. Godwin Obaseki, the Governor of Edo state who also doubled as the Chairman ad-hoc committee of the National Economic Council on Crude oil theft, prevention, and control, disclosed that the 22 million barrels is threatening to double if nothing is done to tame the tide.
Considering June, 2019 report, NNPC revealed they recorded about 77% increase in the pipeline vandalism. Saying about 106 cases recorded in June as against 60 cases recorded in the earlier month.
Obaseki revealed that many of the said breaches are points where thieves can off siphon oil to either sell it illegally or refine it in so-called artisanal refineries that are often little more than drums boiling oil into rudimentary fuels.
Meanwhile, Ndu Ughamadu, the NNPC spokesperson said the government have taken note and will soon act.
