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We will also share how you can prevent these cookies from being stored however this may downgrade or ‘break’ certain elements of the Site’s functionality. This document describes what information they gather, how we use it, and why we sometimes need to store these cookies. “We will not allow a few criminals to have unfettered access to the nation’s oil supply,” Buhari said. He instructed security agencies to speedily clamp down on those involved in oil theft in the Niger Delta, adding that Nigeria was also strengthening cooperation with its neighbours to stop criminals syphoning away stolen crude by sea. Nigeria is currently battling to stabilise its ailing currency to curb surging inflation and boost growth after the economic disruption caused by the Covid-19 pandemic.Īnnual inflation in Nigeria hit a 17-year high in July, data showed on Monday.īuhari also blamed the war in Ukraine for the rise in global food prices and high transportation costs for goods and services.
“On your request for a salary review, I wish to urge you to appreciate the revenue constraints being presently faced by government which is caused mainly by the activities of unscrupulous citizens through the theft of our crude oil, a major contributor to our revenue base,” Buhari said.Ĭrude theft poses an existential threat to Nigeria‘s oil industry, the local head of Shell has said, resulting in the shutdown of two of its major pipelines.
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