A total of $7 billion (N2.1 trillion) is said to have been lost to the activities of militants and vandals in the Niger Delta region of Nigeria.
This revelation was made known by The Group Managing Director of NNPC, Maikanti Baru, on Friday, October 28, 2016.
At the 2016 Fiscal Liquidity Assessment Committee Retreat in Abuja, Baru said the Nigerian National Petroleum Corporation and Nigerian Government lost the sum to the activities of militancy groups and oil pipeline vandals.
Baru also said that apart from security challenges in the region, politics, judiciary, oil prices and production cost continued to impact negatively on the oil industry.
On the solution, Baru said the NNPC planned to increase security of oil and gas assets, improve its community social responsibility and the Amnesty programme.
