An illicit trade that involves the theft of crude oil and its derivative products through a variety of different mechanisms with significant economic, social, environmental, governance and security implications that contribute to the poverty and degradation that exists in the Niger Delta region of Nigeria.
Oil theft in the Niger Delta
Oil theft is believed to exceed 180,000 barrels of oil per day
Over US$7 billion of lost revenue at current oil prices.
Nigeria ABN’s Uche Okoronkwo is joined by Patrick Dele Cole, spokesperson for Stop The Theft Campaign. Link to original source (ABN Digital)
Dr Dele Cole says only political will and development cash will end the massive theft of oil from Nigeria's Delta region and the insurrection driving it.