FIGURES BEING BANDIED ARE IMPRACTICAL, SAYS CHIEF OF NAVAL STAFF

There is a significant miscalculation in determining how much Nigeria is losing in terms of oil theft because oil losses due to other factors are often lumped together as theft.

The Chief of the Naval Staff, Vice Admiral Awwal Gambo, told newsmen, that these losses are then blamed on security agencies’ lack of effectiveness.

Alluding to reports that between 20,000 and 200,000 barrels of crude oil are being stolen daily in Nigeria, Admiral Gambo said 100,000 barrels of crude is the equivalent of 15.8 million litres of crude oil requiring a five-ton barge to make 3,160 trips to convey to a mother vessel within a day.