The Federal Government has announced it has recovered 230,000 barrels of stolen crude oil since April 1st, and arrested 85 suspects and 72 boats.
This was disclosed in a statement by the FG yesterday, citing the success of Operation DAKATAR DA BARARWO (OPDDB), an initiative between the Nigerian National Petroleum Company Limited and the Nigerian Navy to curb crude oil theft that has limited Nigeria’s earnings capacity from sale of crude oil.
Nigeria lost $1 billion of crude oil to thieves in the first quarter of the year, and also earned just 39% of its projected oil earnings for the same period due to crude theft.