According to Sanusi Lamido when he appeared before the Senate Committee on Finance in February 2014,"as far as the Central Bank is concerned, the most important point to establish is that there is a difference of $20 billion between what NNPC shipped and what it repatriated".
According to the Managing Director of Shell Group, Mr Mutiu Sumonu , $ 5 billion dollars is stolen annually by oil bunkerers. Speaking at the Joint Committee on Petroleum Resources (Up-Stream) and Navy in 2012, Sumonu said that "The scale of crude oil theft now is more than what the oil companies can handle. It is extremely pervasive now. If you over-fly the whole of our operational areas in the Niger Delta, you will see canoes, barges and illegal refineries all over the place…"The country is losing about 150,000 barrels of crude oil per day, the equivalent of $5 billion per annum. Imagine what that amount of money could do to our economy if we chose to put it into the power sector". Read More
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