Industry experts warned on Monday that Nigeria is losing billions of dollars every day because of oil theft, vandalism, and waste.
They called for urgent use of modern technology to monitor and protect oil production.
At a leadership forum in Houston, U.S., Charles Deigh, a petroleum engineer at the Nigerian Agip Oil Company, and Dr. Oluwatoyin Gbadeyan, a mechanical engineer and researcher, said Nigeria’s current system of checking oil is “old and unclear,” which makes it easy for theft and waste to happen.
They explained that every barrel of oil should benefit the country, but sabotage and poor record-keeping are reducing government income and slowing development.
“This is not just unfortunate — it is unacceptable. Nigeria cannot afford to lose another barrel. Bold action is needed,” they said.
The experts praised the Nigerian Upstream Petroleum Regulatory Commission for starting new systems such as the Nigeria Upstream Measurement System, the Automated Hydrocarbon Accounting System, and the Petroleum Industry Act 2021.
But they warned that without strict enforcement, these efforts may fail.
Reports show that oil theft and spills have been a major problem in Nigeria for decades.
The United Nations estimates that at least 13 million barrels of crude oil have spilled since 1958.
The federal government has said that oil theft is not only a local crime but is also driven by international criminal gangs who take advantage of weak security.
Bashir Ojulari, Group CEO of the Nigerian National Petroleum Company Limited, also said in August that oil theft is a sophisticated crime that requires cross-border cooperation to stop.
The experts recommended using new technologies such as Internet of Things (IoT) sensors, drones, satellites, blockchain tracking, and artificial intelligence across oil facilities.
They said this would reduce the 200,000 barrels lost daily, restore investor trust, and free more money for schools, hospitals, and roads.
However, they warned that technology alone would not solve the problem. Strong government action, strict enforcement of the law, and real punishments for offenders are necessary.
They also urged oil companies to invest in permanent monitoring systems and advised host communities to support transparency so that everyone can benefit.
“Nigeria is at a crossroads. Oil theft and waste are