Attacks on oil installations is costing Nigeria $2.4M a day

A Cabinet minister says multiple attacks on strategic oil and gas installations is costing Nigeria $2.4 million a day and the military warns it will hold community leaders responsible for the "economic sabotage."

Power Minister Babatunde Fashola on Tuesday specified the cost of the attacks, which began Friday in the southern Niger Delta and lasted through the weekend. They started after a court issued an arrest warrant for former warlord Government "Tompolo" Ekpemupolo in connection with $17.4 million that has gone missing from government coffers.

Tompolo has denied he is involved in the theft and attacks.

Community leader Elekute Macaulay says hundreds of people are fleeing the Niger Delta area and companies are evacuating for fear of a harsh military crackdown.