“About 40% of what is adjudged crude oil theft actually are attributable to metering inaccuracies,” says NUPRC boss Gbenga Komolafe.
NUPRC has implemented measurement regulation for accurate monitoring of daily production, aimed to enhance Nigeria's hydrocarbon account and curb theft.
He said that Africa has the potential to easily switch to cleaner sources of energy in future.
The last time the federal government issued dozens of such permits was between 1993 and 2007.
The life index of the natural resources could increase with new discoveries.
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