Lagos - Nigeria is losing between 100 000 and 300 000 barrels of crude oil per day due to the activities of oil thieves and the vandalism of major oil pipelines in the oil-rich Niger Delta region.
The loss when calculated has denied the country over $9 billion monthly in potential oil revenue , reports New Telegraph.
Minister of Petroleum Resources, Diezani Alison- Madueke, who gave the information in a presentation at the CERAWeek in Houston, United States of America, said about 3 000 000 barrels of oil are stolen daily from the Niger Delta in the last three years.
She noted that apart from revenue loss, oil vandals also destroy infrastructures, forcing oil companies to reduce production output.
Read more at New Telegraph.