Minister of State for Petroleum Resources, Chief Timipre Sylva has disclosed that Nigeria loses at least 700,000 barrels of crude oil to thieves daily.
He made this known yesterday in Effrun, Delta State at the 2022 graduation of students of Petroleum Training Institute (PTI).
The minister who was represented by Ambassador Gabriel Aduda, Permanent Secretary, Ministry of Petroleum Resources stated that the Federal Government was making concerted efforts to curtail the menace, however.
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Mr Sylva said crude oil theft had negatively impacted the nation’s foreign exchange inflow.
“Oil theft has denied the country of an estimated 700,000 barrels of crude oil per day. The adverse effect of this is the drop in the production of crude oil and decline in the national income,’’ he said.
via: Information Nigeria
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