Nigeria Lost N76bn Worth Of Crude To Pipeline Vandals In 2020

Gulf of Guinea, IUU fishing, Kidnap for Ransom, Maritime Security, oil products theft, Piracy, port security, Robbery, smuggling 1 Minute

Nigeria lost at least 3.1 million barrels of crude worth about $200m (about N76.3 billion) in 2020 due to activities of pipeline vandals and crude oil thieves.

This figure is contained in a report released by the Nigerian Navy, which x-rays some of its operational activities in 2020. A barrel of crude oil currently sells for 50 dollars per barrel at the international market.

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Source: economicconfidential.com

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Published by Maritime Security News

I entered the maritime security world in 2009, becoming Intelligence Officer for Neptune Maritime Security (now the NeptuneP2P Group). In 2012, became piracy editor for SomaliaReport.com and in 2013 became editor of MarsecReview.com and intelligence consultant for CSO Alliance, which I left in 2019. I currently work with another UK maritime security firm as a consultant and have an interest in a cyber security concern in the UK. Need a maritime security report, article or advice on maritime cyber security? contact me at: marsecnews@gmail.com

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