Nigeria loses at least 200, 000 barrels of oil every day. The managing director of the Nigerian National Petroleum Corporation (NNPC), Meye Kyari, has said this while expressing his grief on Nigeria’s daily crude losses to theft and vandalism.
Nigeria’s Chief of Defence Staff Lucky Irabor visited the NNPC headquarters in Abuja on February 24 for a meeting with the director of the NNPC in a bid to providing “maximum security” for the country’s oil and gas assets.
Crude oil which is the major source of foreign exchange in the Nigerian Economy is at a loss of #5.1billion($13.5million)daily as the current Brent crude price is $67.64 per barrel.
The managing director discussed measures to solidify collaboration towards securing Nigeria’s critical oil and gas assets and facilitating NNPC’s operations in the meeting.
In addition, Kyari spoke about the commendable support from security agencies in reducing petroleum products theft on the 2B pipeline, nonetheless, he made complaints on crude losses in which 200,000 barrels of oil are being lost daily owing to vandalism and theft.
He Further, emphasized the necessity of cooperation needed between the armed forces and NNPC corporation’s management. Moreover, Irabor gave his word that the armed forces will not relent in their duties in safeguarding lives and properties of Nigerians.
Likewise, he made his intentions known to Kyari to cooperate with him maximally noting to the fact that the armed forces existence relies almost solely on NNPC.