Nigeria’s public treasury has continued to bleed as stakeholders trade blame over who is stealing oil in the country and what quantity is actually stolen. Oilprice.com, an online publication, reported last year that Nigeria was losing an estimated 400,000 barrels per day, citing figures attributed to Nigeria’s coordinating minister for the economy and finance minister, Mrs Ngozi Okonjo-Iweala. The large volume of oil allegedly stolen on a daily basis last year was equivalent to a revenue loss of about $1.7 billion a month and $20.4 billion annually. This earned Africa’s largest economy the No. 1 position among countries most plagued by oil theft in the world ahead of Mexico, Iraq, Russia, and Indonesia. The amount lost by Nigeria annually was reported to be more than the country spent on education and healthcare combined. According to data provided by the chief of naval staff last week, daily oil theft in […]