The Executive Secretary of the Nigerian Extractive Industries Transparency Initiative(NEITI) and member of the Inter-Agency Task Team(IATT), Dr Orji Ogbonnaya, has revealed that Nigeria loses around $4.2billion worth of crude oil annually.
Dr Ogbonnaya who made this disclosure during a seminar in Abuja expressed that the figure is an estimate of crude oil that is either lost or stolen every year and is never accounted for.
Dr Ogbonnaya said that these losses pose serious challenges to the government’s ability to deliver public good and efficient services to the citizens.
He expressed further that this calls for enforcement of strict anti-corruption measures in all government agencies to ensure transparency and accountability.
