Nigeria loses N5.724trn annually to crude theft, piracy, vandalism- Chatham House
LONDON think-tank, Chatham House, has reported Nigeria’s economy may be heading for harder times, as it loses over N5.724 trillion annually to oil theft, fraud and piracy in the country’s oil industry. Quoting the report, the United States’ Deputy Ambassador to the United Nations, UN, Ms. Michele Sison, put the overall damages incurred by Nigeria’s oil industry at about $1.5 billion each month, translating to N5.724 trillion annually.
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Nigeria loses N5.724trn annually to crude theft, piracy, vandalism- Chatham House
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