$20 billion crude lost
Rear Admiral Henry Babalola (ret. ), the former Chief of Policy and Planning for the Nigerian Navy, charged that the government was not doing enough to combat oil theft in the nation. On March 22, he told the media in the nation’s capital during a Defense Correspondents Association of Nigeria seminar with the theme “Achieving presidential mandate in curbing oil theft and securing the nation’s wealth” that the $20 billion allegedly lost to crude oil theft by both the downstream and upstream sectors would have bolstered our revenue and paid our debts. “If immediate action is not done, the nation will perish from crude oil theft. Punishing citizens is necessary to deter. It is one of the system’s cornerstones of criminal justice. Theft of crude oil has been made more common by lack of punishment or inadequate punishment for offenders.”
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Source: West Pandi
