National Security Advisor Maj. Gen. Babagana Monguno has estimated that the federal government could lose $23 billion in 2023 if crude oil theft continues.

He made the comments Tuesday during the inauguration of a special investigative panel set up to look into crude oil theft in the country.

General Monguno expressed concern that the nation is currently producing one million barrels of crude oil per day, in contrast to the daily target of two million barrels set by the Petroleum Exports Organisation.



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