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Nigeria lost N191bn ($1.23bn) to oil theft and vandalism in the first quarter of the year as crude theft continued to threaten the country’s revenue base.
The Nigerian National Petroleum Corporation, in a statement on Wednesday, also said there had been a significant drop in crude oil production for the first quarter of 2013.
The corporation said in the statement by the Acting Group General Manager, Public Affairs Division, NNPC, Ms. Tumini Green, that incessant crude oil theft and vandalism along the major pipelines within the Niger Delta had been responsible for the drop in oil production. Read more
Integrity Organization is committed is an anti-corruption, research and advocacy organization. Its activities are centered on the aim to reduce the tolerance for corruption in Nigeria.