NEITI: Nigeria lost $3.3bn to oil theft in 2022
The Nigerian Extractive Industries Transparency Initiative (NEITI) has revealed that the country lost 13.5 million barrels of crude oil valued at $3.3 billion to theft and sabotage in 2022.
Ogbonnaya Orji, Executive Secretary of NEITI, disclosed this on Thursday at the 2025 Association of Energy Correspondents of Nigeria (NAEC) conference in Lagos.
“In 2022 alone, Nigeria lost 13.5 million barrels of crude oil valued at $3.3 billion to theft and sabotage,” he said.
Orji explained that the amount lost was equivalent to the federal government’s annual health budget or could have provided energy access to millions of households.
He noted that Nigeria earned $23.04 billion in 2021 and $23.05 billion in 2022 from the oil and gas sector, according to NEITI’s 2021–2022 industry reports.
However, he pointed out that the reports also identified outstanding remittances of N1.5 trillion owed to the federation by some companies and government agencies.
“Funds that, if recovered, could make a substantial impact on energy infrastructure, education, and healthcare,” Orji said.
He stressed that the findings further exposed the devastating cost of weak accountability in the extractive sector.
According to him, Nigerians have the power to use NEITI’s data to hold government and industry accountable, monitor how revenues are spent on infrastructure and social services, and simplify complex audit findings for citizens’ engagement.
He added that the data also empowers Nigerians to amplify the voices of host communities, push for fairness in energy governance, and promote transparency and accountability at the centre of national discourse.
On Nigeria’s energy transition, Orji reiterated that the country must align governance systems with technological and environmental shifts.
“Our energy future must rest on verifiable data, open contracts, measurable emissions, and accountable institutions,” he said.
He added that NEITI envisions a sector where every dollar is traceable, every contract is public, and every Nigerian can clearly see how the country’s natural resources are managed for collective prosperity.
