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Reports say Nigeria’s crude oil earnings were depleted by about N1.474trillion between January and October 2021 due to various concerns at terminals that prevented the production of 50.788 million barrels of oil during the 10-month period.
According to the report, community interferences, industrial actions by oil workers, COVID-19 outbreak at some terminals, pipeline vandalism, among others, curtailed oil production in various terminals, leading to huge financial losses for Nigeria.
This came as stakeholders urged the Federal Government to push for the deployment of latest technologies in securing oil infrastructure, as well as try to avoid issues that would warrant industrial actions.
