Nigeria lost 42.25 million barrels of crude oil valued at 2.77 billion dollars to oil theft in 2019, the Nigeria Extractive Industries Transparency Initiative (NEITI) said in its latest audit report. The News Agency of Nigeria (NAN) reports that the report on Oil and Gas was presented to the Media and Civil Society Organisations by Mr George Abiye, Assistant Director, Oil and Gas, NEITI on Tuesday in Lagos. The report showed Nigeria earned 34.22 billion dollars from the oil and gas sector in 2019, a 4.88 per cent increase over the 32.63 billion dollars realised in 2018. The 2019 report covered 98 entities, including 88 oil and gas companies, nine government agencies and the Nigerian Liquefied Natural Gas (NLNG) Company. It said the country could have earned more revenue if not for crude oil losses due to metering error, theft and sabotage in the year under review. The report, […]