Thursday, September 19, 2013

100,000 barrels of Nigerian crude oil each year

Nigeria whose major source of revenue is from it's crude oil suffers from frequent vandalism.
This results in the loss of more than a 100,000 barrels of crude oil annually, which in turn leads to the loss of billions of naira which could have been used in the development of the county. To curb this crime that is siphoning the nation's annual income the government has beefed up security in the Niger delta waters.
This security check would definately go along way in keeping an eye on the pipelines and reducing the vandalisms. But there have rumors that some of the security personnel migjt be in cohots with the vandals and that is why it has been difficult to get them. But there is no proof to that.
So will watch and wait to see how things would turn out to be, because the problem is not attended to properly then the country's annual revenue would suffer

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