Nigeria loses $80bn annually to oil facilities vandalism – Kachikwu

The Minister of State for Petroleum, Ibe Kachikwu, on Friday said Nigeria is losing at least $80 billion annually to oil facilities vandalism in the Niger Delta.

Kachikwu stated this on in Yenagoa, Bayelsa, during the resumed dialogue with Niger Delta stakeholders as part of Acting President, Prof. Yemi Osinbajo’s visit to Bayelsa.

He said at least 10,000 sabotage incidents were recorded annually at oilfields across the region.

Kachikwu urged people of the area to contribute ideas toward the resolution of crises in the Niger Delta.

He said the challenges of the region could be turned into opportunities when peace was achieved and urged Niger Delta people to give peace a chance for the growth of the region.

The News Agency of Nigeria (NAN) reports that Kachikwu, Minister of Niger Delta Affairs, Usani Nguru Usani, and Minister of State for Agriculture, Senator Heineken Lokpobiri, accompanied Osinbajo on the trip. 

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