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Nigeria loses 200,000 barrels of oil daily, N151.78bn monthly -NNPC

The Nigerian National Petroleum Corporation said on Wednesday that Nigeria is currently losing an average of 200,000 barrels of crude oil daily.

The Group Managing Director of the Corporation, Mele Kyari, revealed this while speaking at a meeting with the Chief of Defence Staff, Maj. Gen. Lucky Irabor.

He said, “We have two sets of losses, one coming from our products and the other coming from crude oil.

“In terms of crude losses, it is still going on. On the average, we are losing 200,000 barrels of crude every day.”

Brent, the oil against which Nigeria’s crude is priced, hit $67 per barrel on Wednesday, while the official exchange rate stood at N379 to a dollar.

Going by the number of barrels of crude oil lost daily, as disclosed by NNPC, Nigeria is losing about N151.78 billion in a month.

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