Crude oil theft: Bleeding the economy dry

The crude oil theft in the Niger Delta has been on the increase, and part of the major costs to the country is enormous loss of revenue of about $7 billion (N1.13 trillion) annually. An average of about 180,000 barrels per day is stolen from the country through the hacking of the pipelines at various locations using different sizes of ships, with which they are sold at the international market. These nefarious activities of some unscrupulous Nigerians are perpetrated in conjunction with foreigners who infiltrate the countrys territorial waters.
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