ABUJA (Reuters) - Nigeria lost out on $10.9 billion (7.1 billion pounds) in potential oil revenues due to oil theft between 2009-2011, the chairman of the Nigeria Extractive Industries Transparency Initiative (NEITI) said on Tuesday.
"Over 136 million barrels estimated at $10.9 billion was lost to crude oil theft and sabotage," Ledum Mitee said in an emailed statement, after NEITI published an audit of the Nigerian oil and gas sector this week.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!