NNPC reports loses of about $750m to oil theft in 2019.


The Nigerian National Petroleum Corporation (NNPC) says the nation lost about 750 million dollars to oil theft in 2019.

This the NNPC Group Managing Director, Malam Mele Kyari said,  was because of the strategic role of the corporation as an enabler of the economy.

He listed other security challenges facing the corporation to include vandalism of oil and gas infrastructure and kidnapping of personnel.

According to him, there is a deep connection between the various shades of insecurity challenges as they were all linked to what is happening in the Gulf of Guinea and the entire maritime environment.

He called for a concerted effort and synergy to secure oil and gas operations for the economic survival of the country.

The NNPC boss reassured that in spite of the increase in demand for fossil oil crude oil would still remain relevant.