• N153.5bn lost to oil theft in one year, says NNPC

    N153.5bn lost to oil theft in one year, says NNPC

    According to reports, the Federal Government lost a total of N153.504 billion to the crude theft in the last one year as the menace surged with renewed militancy in the Niger Delta.

    The Nigerian National Petroleum Corporation (NNPC) disclosed this in its monthly financial report for March 2016.

    The corporation said that pipeline repairs and management associated with vandalism and militancy cost the country N95.118 billion.

    According to the NNPC report, until May when the government removed subsidy, N249.329 billion was expended on […]