Nigeria is the country with the highest incidents of crude oil theft in the world, this is according to data released by Oilprice.com.
According to the website, with as much as 400,000 barrels of crude
oil stolen daily, Nigeria is ranked worse than Mexico, Iraq, Russia and
Indonesia on the top five countries most plagued by oil theft.
The report put Nigeria’s losses to crude theft at $1.7 billion, about
N272 billion per month, representing 7.7 percent of Nigeria’s Gross
Domestic Product, GDP.
“This represents 7.7 percent of Nigeria’s GDP vanishing, or more than the country spends on education and healthcare.
“These numbers paint a harsh picture about the inability of the
Nigerian government and the multinational oil companies in Niger Delta,
to do anything about this rampant theft.