Nigeria has seen increased oil theft in recent years. The NNPC said earlier that the country loses 470,000 barrels of crude oil monthly to oil theft, amounting to $700 million.
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The federal government in its recent draft fiscal strategy paper for 2023 through 2025 said that oil revenue underperformed due to significant production shortfalls such as shut-ins resulting from pipeline vandalism and crude oil theft.
In a bid to curb crude theft, the Nigerian government launched an application in August to monitor the incidence. The NNPC awarded a multi-billion naira pipeline surveillance procurement to a former leader of the Movement for the Emancipation of Niger Delta, Government Ekpemupolo well known as Tompolo.
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