The Minister of State for Petroleum, Ibe Kachikwu has revealed that Nigeria is losing at least $80 billion annually to oil facilities vandalism in the Niger Delta.
Kachikwu stated this in Yenagoa, Bayelsa, during the resumed dialogue with Niger Delta stakeholders as part of Acting President, Prof. Yemi Osinbajo’s visit to Bayelsa.
He said at least 10,000 sabotage incidents were recorded annually at oilfields across the region urging people of the area to contribute ideas toward the resolution of crises in the Niger Delta.
According to him, the challenges of the region could be turned into opportunities when peace was achieved and implored the Niger Delta people to give peace a chance for the growth of the region.
Kachikwu, Minister of Niger Delta Affairs, Usani Nguru Usani, and Minister of State for Agriculture, Senator Heineken Lokpobiri, accompanied Osinbajo on the trip