Nigeria loses at least 700,000 barrels of crude oil to thieves daily, minister of State for Petroleum Resources, Timipre Sylva, said in Effurun, Delta.
He revealed this at the 2022 graduation of students of Petroleum Training Institute, PTI.
The minister, who was represented by Gabriel Aduda, permanent secretary, Ministry of Petroleum Resources said the Federal Government is making concerted efforts to curtail the menace.
He said crude oil theft had impacted negatively on the nation’s foreign exchange inflow.
He said the ministry had given PTI mandates in different areas of research into use of local materials in crude oil production, stoppage of gas flaring and the commercialisation of gas, among others.
The minister advised the institute to embrace contemporary ways and methods to deliver on its mandates following global rapid changes in technology.
Mr Sylva congratulated the graduates and assured them that there were opportunities in the oil and gas industry.