Home - NEWS - We Lose $80bn To Militant Attacks Every Year – Kachikwu

We Lose $80bn To Militant Attacks Every Year – Kachikwu

-The Minister of state for petroleum, Dr. Ibe Kachikwu, says every year, Nigeria loses at least $80 billion to vandalism of oil facilities in the Niger Delta region.

-Niger Delta Militants are responsible for attacks on oil facilities.

Dr. Kachikwu made this known at the resumed dialogue with Niger Delta stakeholders in Yenagoa, Bayelsa state.

Acting President Yemi Osinbajo led a federal government delegation to Bayelsa on Friday.

The minister said at least 10,000 sabotage incidents were recorded annually at oilfields across Niger Delta.

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Kachikwu regretted that within the last decade, estimated $30 billion revenue accrued to the Niger Delta area by way of derivation, but that the region had continued to wallow in abject poverty.

The minister urged people of the area to contribute ideas toward the resolution of crises in the zone “and add value as well as derive some gains from the natural endowments of the region”.

Appealing to the people to give peace a chance, Kachikwu said the challenges of the region could be turned into opportunities.


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