Nigeria: The Menace of Oil 'Bunkering'
Daily Trust (Abuja), 26 February 2013
The 13th Nigeria Oil and Gas Conference that ended recently in Abuja again highlighted some of the lingering problems in the sector. One of these is the issue of oil theft 'bunkering' -breaching pipelines to steal crude then refine it locally or selling it abroad. Nigeria depends on oil for some 80 percent of its revenue and about 90 percent of its foreign exchange earnings.