A report has revealed that oil theft has replaced activities of militants, with Nigeria losing 100,000 barrels daily, running into trillions of naira. The report by Bloomberg showed that between 2014 and 2019, millions of barrels of crude oil have been lost to theft, with as high as 100,000 barrels stolen daily in the last few months. Royal Dutch Shell Plc said in a report last month that saboteurs including thieves caused an 80% increase in the number of oil spills in 2018. These come against the backdrop of relative cessation of hostilities by Niger Delta militants, and the industry has not recorded any militant-related halts to operations since 2016. On one level, the report noted, theft is probably a more palatable option for Nigeria and the companies operating there than attacks by militants. About 100,000 barrels a day are being taken out of pipelines, whereas militancy halted at […]