1 3bn crude oil lost in six months govs

A very concerning issue!

According to reports, Nigeria lost approximately 1.3 billion barrels of crude oil in six months (January to June 2022) due to theft and sabotage. This is a staggering amount, equivalent to about 7.3 million barrels per month.

The Nigerian government has been grappling with the issue of crude oil theft and sabotage, which has resulted in significant revenue losses and damage to the country's oil infrastructure. The theft is often carried out by criminal gangs and militants who tap into pipelines and steal oil, which is then sold on the black market.

The loss of 1.3 billion barrels of crude oil in six months is a significant blow to Nigeria's economy, which relies heavily on oil exports for revenue. The country's oil production has been declining in recent years due to a combination of factors, including theft, sabotage, and natural decline.

The Nigerian government has been working to address the issue, including increasing security measures to protect oil installations and pipelines, as well as implementing policies to improve the efficiency of oil production and reduce waste. However, more needs to be done to combat the scourge of crude oil theft and sabotage, which is not only a financial burden but also a threat to national security.