2020 NEITI report reveals $46bn stolen crude oil in Nigeria between 2009-2020, impacting oil production quota.
The Nigerian Federal Government has expressed concern over the NEITI 2020 Oil and Gas Report, which revealed $46bn worth of stolen crude oil between 2009 and 2020. The SGF, Senator George Akume, described the issue as a matter of grave national importance, frowning at the pervasive oil theft and its substantial impact on the oil and gas sector. Over $1.5bn has been spent since 2020 to protect oil infrastructure and tackle crude oil theft, yet the federal government is still struggling to meet its daily production quota set by OPEC.
July 25, 2024
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