N1.29tn Lost To Oil Theft Annually – Speaker

Speaker of the House of Representatives, Hon. Abbas Tajudeen, has said Nigeria loses about 300,000 barrels of crude oil to oil theft, pipeline vandalism, and other forms of criminality everyday.
He said this is estimated at N1.29 trillion annually.

He was delivering an address yesterday at the inauguration of the new headquarters Naval Training Command in Ebubu community in Eleme, Rivers State performed by Governor Siminalayi Fubara.

Tajudeen, who was represented by the Chairman, House of Representatives Committee on Defence, Babajimi Benson, therefore, challenged the Nigerian Navy to rise up to its mandate of contributing to the survival of the national economy.