According to Nigeria’s Vice President, Prof. Yemi Osinbajo,
Nigeria is losing about 400,000 barrels of crude oil worth N4.8bn to
thieves every day, PREMIUM TIMES reports.
Speaking at the 10th Anniversary of Crescent University,
Abeokuta, Osinbajo says the Buhari-led administration is passionate
about revamping the economy and increasing power supply by prioritizing
security in the oil sector.
“In the petroleum sector, vandalism also contributes in no
small measure to the drop in the output of the sector. 400, 000 barrels
are stolen on daily basis while countries like Ghana only survive on
less than 150, 000 barrel, he said,
“The militancy in the south has also reduced oil production
significantly and that is why any form of extremism must be put down not
only because of the economy but for the unity and peace of the country
and that is why all the recent initiatives are important because we must
deal with the question of economy,”
hmmm, it is well
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