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Nigeria lost N17bn to oil theft, vandalism in 2020 – NNPC

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Nigeria lost N17bn to oil theft, vandalism in 2020 – NNPC 

By our correspondent 

The Nigerian National Petroleum Corporation (NNPC) has disclosed that the country has, so far, lost about $48 million or N17 billion (using N360/$1) to oil theft in 2020.

 The Group Managing Director of NNPC, Mallam Mele Kyari, stated this at an interactive hearing on “Exiting Petroleum Subsidy: Ensuring Self-Sufficiency in Domestic Refining of Petroleum Products” by the Senate Joint Committee on Petroleum Resources (Upstream and Downstream).
 He, however, said the number is lower when compared to the past.
 In 2018 and 2019, he put the lost at $825 million and $725 million respectively.

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