Amount of Oil Loss in Nigeria in 20111

600,000 barrels of oil is being loss in Nigeria each year, according to the Maritime Industry Advocacy Initiative.

Based 0n the value of oil on the day of the press report, the annual losses to oil smuggling to Nigeria is $24.64 Billion a year.

Source: Valerie Anofoochi, “N3.7tn lost yearly to illegal bunkering In Nigeria,” Daliy Times, May 20, 2011.