Nigeria loses $80bn to vandalism annually – Kachikwu

Minister of State for Petroleum, Ibe Kachikwu has said Nigeria loses $80bn annually to vandalism of oil facilities in the Niger Delta.

Kachikwu made this known on Friday in Yenagoa at the resumed dialogue with Niger Delta stakeholders as part of the visit of Acting President, Prof. Yemi Osinbajo, to Bayelsa.

He said the Niger Delta has continued to lack despite estimated $30bn revenue accrued to it in the last decade.

He said about 10,000 sabotage incident have been recorded in the region annually.

Kachikwu urged people of the area to contribute ideas toward the resolution of crises in the zone “and add value as well as derive some gain from the natural endowments of the region’’.

He urged people of the region to embrace peace, stating that it would help the growth of the area.

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