Nigerian Navy's anti-oil theft efforts led to a 300,000-barrel increase in oil production, boosting government revenue.
The Nigerian Navy's successful efforts in combating oil theft have led to a significant boost in government revenue, according to the Civil Centre on Security and Governance (CCSG). Under the leadership of Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, the navy has reorganized forward operating bases in the Niger Delta region and deployed warships, helicopters, and boats, resulting in a 300,000-barrel increase in oil production. The CCSG urges stakeholders to support the Nigerian Navy's efforts, as the oil sector accounts for 95% of Nigeria's foreign exchange earnings and 80% of its budgetary revenues.
May 19, 2024
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