‘N4.57tn lost to crude theft in four years’

Ife Ogunfuwa

Nigeria lost a total N4.57tn to crude oil theft between 2015 and 2018, according to estimates of the Nigeria Natural Resource Charter. This figure, according to the charter, meant that the country lost 43 per cent of its revenue in four years to oil theft.

Highlighting the impact of crude oil theft on the country, the Deputy Director of Programmes at New Nigeria Foundation, Mrs Bunmi Olatunde, at a workshop on Creating Innovative Technology for Artisanal Refineries in Lagos on Tuesday, said the illegal activities had caused severe revenue shortages to the government.

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Source: https://punchng.com

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