Nigeria loses N1.3 billion daily to renewed militant attacks in the Niger Delta

Posted by News Express | 6 June 2016 | 2,292 times

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  Constant attacks on oil facilities by a militant group across the Niger Delta have led to a loss of 1.3 billion naira daily for the country.

According to experts, the attacks on Eni and Alteo oil firms pipelines alone have led to a combined loss of 140,000 barrels of crude per day.

At an estimated price of 48 dollars per barrel, it’s believed that over 6.72 million dollars is lost to daily production.

A militant group, the Niger Delta Avengers carried out attacks on the oil fields in late May.

•Sourced from Channels TV. Photo shows Niger Delta militants.

Source: News Express

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