Nigeria has lost the sum of N4.3 trillion worth of crude oil in 7,143 pipeline vandalism cases within five years, the federal government has revealed.
These startling figures were disclosed at the Nigeria International Pipeline Technology and Security Conference in Abuja by the Nigeria Extractive Industries Transparency Initiative (NEITI) while noting the severe impact of oil theft on the nation’s economy.
NEITI also disclosed that during the same period Nigeria spent N471.493bn to either repair or maintain vandalized pipelines.
