The Federal Government lost about 13.5 million barrels of crude oil, valued at $3.3 billion, to theft and pipeline sabotage between 2023 and 2024, according to the Nigerian Extractive Industries Transparency Initiative, NEITI.
Executive Secretary, Mr Ogbonnaya Orji, revealed the figures at the 2025 Energy Correspondents’ Conference in Lagos, lamenting persistent secrecy and weak accountability in the oil and gas sector. He said the stolen revenue could have funded the nation’s health budget or expanded energy access for millions.
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Orji added that several companies and agencies still owe the Federation over ₦1.5 trillion. He stressed that transparency, reliable data, and open governance remain essential for attracting investment, curbing losses, and ensuring Nigeria’s energy transition delivers tangible benefits for citizens.
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