ABUJA, Nigeria: June 26 (Xinhua) — Nigeria suffers an annual loss of over 5 billion U.S. dollars to illegal oil bunkering, according to the Managing Director of Shell Petroleum Development Company Nigeria Plc., Mutiu Sumonu.
The oil worker who spoke at a forum on Tuesday in Abuja, the nation’s capital city, said Nigeria loses approximately 150,000 barrels of oil to illegal oil theft daily, an indication that so much money go down the drain on a daily basis.
“The activities of oil thieves had shifted from pilfering to a higher dimension,” he said, adding that stakeholders in the oil sector of the country must display the political will to fight illegal oil bunkering.
Sumonu said every tier of government must be involved in the fight against illegal oil bunkering, describing the incessant theft as a highly syndicated operation that involved oil company workers. (Xinhua)