Nigeria lost about N16.25trn to crude oil theft and sabotage of crude assets between 2009 and 2020.
This is according to the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji who revealed this at a multi-stakeholders roundtable on the approval of the agency’s 2022 industry report.
He said the amount lost was as a result of the loss of over 619.7 million barrels of crude oil within this period.
He also confirmed that based on the reports, Nigeria spent N13.7 trn on subsidy payments between 2005 and 2021.
