A report confirms that Nigeria tops the oil theft league table for the world. With an estimated 400,000 barrels of oil lost to oil lost to oil theft everyday. Nigeria is ahead of Mexico, Iraq, Russia and Indonesia according to oilprice.com. the oil price website point out that that the staggering level of theft in Nigeria (which equates about $1.7 billion monthly loss) represent about7.7% of Nigeria’s GDP.
In spite of the worldwide condemnation of the staggering level of oil theft in Nigeria, the government appears not to have either the will or power to stop the illegal operation. It is obviously a hard battle to fight given the kinds of returns the oil thieves are getting from their illicit activities. Some members of the Join Task Force(JTF) who are meant to curb this menace are been accused of being I cahoot with the “princes and principalities”
To get a full gist of this story you can check this link: www.nigeriaoilandgasintelligence.com/nigeria-top-world-oil-theft-league-table”
In spite of the worldwide condemnation of the staggering level of oil theft in Nigeria, the government appears not to have either the will or power to stop the illegal operation. It is obviously a hard battle to fight given the kinds of returns the oil thieves are getting from their illicit activities. Some members of the Join Task Force(JTF) who are meant to curb this menace are been accused of being I cahoot with the “princes and principalities”
To get a full gist of this story you can check this link: www.nigeriaoilandgasintelligence.com/nigeria-top-world-oil-theft-league-table”
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