The Minister of State for Petroleum Resources, Dr. Timipre Sylva, says the country loses 400,000 barrels of crude daily due to oil theft.
He said this yesterday when he visited Imo State Governor Hope Uzodimma in Owerri, the state capital.
Sylva described the development as a “national emergency”.
The minister regretted that the nation had fallen short of OPEC daily quota, from 1.8 million barrels to 1.4 million barrels, due to crude theft.
He warned that such a huge economic loss was capable of crippling the nation’s economy, if not given the seriousness it deserved.
Sylva said the problem of crude theft could not be handled in Abuja alone.
“It is a national emergency because the theft has grown wings and reached a very bad crescendo.
“This is because the thefts are taking place in the communities that host the oil pipelines.
“As a result, it has become necessary to involve the stakeholders, especially the host communities.”
