$29bn Lost in 6 Years as Nigeria’s Economy Bleeds from Massive Oil Theft

A combination of huge oil pipeline repairs cost and a high-level crude oil theft are bleeding the Nigerian economy, with losses amounting to at least $29 billion in the last six years, spanning 2015 to 2021. In February last year, the Nigerian National Petroleum Company (NNPC) Limited disclosed that the country lost an average of…