‎NIGERIA: GOVT LOSES N31.7BN TO CRUDE THIEVES – NEITI

The Nigerian Extractive Industries Transparency Initiative (NEITI) has disclosed that billions of naira worth of crude products were stolen by oil thieves in 2012.
 
NEITI made the disclosure in its latest audit report entitled ‘Financial, Physical and Process Audit: An Independent Report Assessing and Reconciling Financial, Physical and Process Flows within Nigeria’s Oil and Gas Industry – 2012’ where it found that Nigeria lost 2,842,116 barrels per day valued at N1, 960,607,108 to export crude theft and sabotage.

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