According to a review of the monthly reports of the country’s crude oil and condensate output, Nigeria lost around 13.21 million barrels of crude oil worth an estimated N603.64 billion between January and August of this year.
According to data in the reports, which were received on Sunday from the Nigeria Upstream and Downstream Petroleum Regulatory Commission in Abuja, the nation’s oil output only rose in two months while falling in others.
Oil reserves theft in the Niger Delta, which has been met with massive outrage and demonstrations by oil workers, has been blamed for the collapse in Nigeria’s oil production.
In order to protest the ongoing theft of crude oil in Nigeria, the Petroleum and Natural Gas Senior Staff Association of Nigeria organized demonstrations last week in Abuja, Lagos, Kaduna, and Warri, among other places.
