Nigeria's state oil firm NNPC says pipeline theft nearly eliminated

Nigeria’s state oil firm NNPC Limited said on Monday nearly all pipeline theft has been eliminated after coordinated efforts by the country's defence and intelligence agencies.

Three years ago, as little as 30% of oil sent through some pipelines made it to Nigeria's export terminals, costing the government billions in lost revenue and causing investment to be deferred.

"Today, I can proudly report that our pipeline and terminal receipts are attaining close to 100%," NNPC Group Chief Executive Officer Bashir Bayo Ojulari told a regional security forum in Abuja.

He said security had been improved, particularly within the Niger Delta, where most of the country’s oil infrastructure is located.

Oil output could surpass 2.5 million barrels per day