The National Security Adviser (NSA), retired Maj.-Gen. Babagana Monguno, says crude oil theft is arguably the biggest threat to Nigeria’s economy currently.
Mr Monguno said this at the Stakeholders’ Conference on Oil Theft and Losses in Nigeria, convened by the Special Investigative Panel on Oil Theft/Losses in Nigeria on Tuesday in Abuja.
The theme of the conference is, “Protecting Petroleum Industry Assets for Improved Economy.”
The NSA had in December 2022, inaugurated an 11-man special investigative panel to probe oil theft in the Niger Delta region of the country.
He said the initial concerns of oil theft in the country dated back to the early 80s, saying the situation had developed to a more pronounced and disturbing level in recent times.
According to him, the criminals have now increased the level of sophistication, considering the various methods they employ to tap primary pipelines with illegal secondary pipelines to load on barges…
