In 2022, FG loses 13.21 million barrels of oil, valued at N603.64 billion

According to the monthly reports of the Nigeria Upstream and Downstream Petroleum Regulatory Commission, there was a significant loss of revenue for Nigeria between January and August of this year as a result of widespread oil theft.

An review of the monthly reports of Nigeria’s crude oil and condensate output showed that between January and August of this year, the country lost around 13.21 million barrels of crude oil, valued at an estimated N603.64 billion.

According to data in the reports, which were obtained on Sunday from the Nigeria Upstream and Downstream Petroleum Regulatory Commission in Abuja, the nation’s oil production only rose in two months while falling in others.

GOGAN Media.