Nuhu Ribadu: How Nigeria loses $4m every day
The National Security Adviser Mallam Nuhu Ribadu has explained how Nigeria loses at least $4m daily. The former boss of the Economic and Financial Crime Commission (EFCC) stated that the country loses the whooping sum due to the crude oil theft.
The top adviser said that at least 400,000 barrels of oil are theft on a daily basis by the bunkers in the Niger Delta region and other oil producing areas.
The security adviser made this known in Owaza, Abia and Odogwa, Rivers State when he led a team to inspect oil and gas facilities. NSA Nuhu Ribadu lamented that the activities of the pipelines vandals are negatively impacting the economy of the country.
According to the Punch Newspaper, Ribadu gave the figure of the quantity of crude oil stolen per day to 400,000 and he said that the value of that oil is $4m.
Ribadu said, “The value of 400,000 of oil today is about four million dollars and everyday we lose this amount because of this irresponsible behavior.”
He further explained that if the country earns the money, which goes to the vandals, it will positively reflect on the currency exchange and cost of living in the country.
Nuhu Ribadu was not the only one at the inspection. The immediate past governor of Jigawa State, Mr. Abubakar Badaru, who is now the defense minister, Chief of Defence Staff Christopher Musa, other top military eggheads were in the team that inspected the facilities in the two states.
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The powerful National Security Adviser Ribadu said that the president, Bola Tinubu is concerned about the daily loss of millions of dollars. And the president is determined to solving the problem.
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