.Loses 437,000 barrels of crude oil daily
.Asks security agencies to go after vandals, militia groups
CHIGOZIE AMADI
Speaker of the House of Representatives, Rt.Hon.Tajudeen Abbas has lamented the negative effects of oil theft in the country informing that the country lost a whooping sum of $10b Dollars in 7 months due to clandestine activities of Oil Theft, Vandals, Militia groups among others.
The Speaker who spoke yesterday while declaring open a 2-Day public and Investigative hearing on oil theft loses in the oil and gas sector in Nigeria, quoted statistics from the Nigeria Extractive Industries Transparency Initiative, NEITI, which said that Nigeria loses over 437 barrels of crude oil daily from January to July 2024 to illegal operations.
Represented at the investigative hearing by his deputy, Hon Benjamain Kalu, he further informed that the Special Committee on Oil Theft was inaugurated on 22nd November, 2023 to essentially determine the immediate and remote causes of oil theft and recommend appropriate remedial measures to the parliament.
Speaker Abbas further maintained that the inauguration of the special committee was to underscore the unwavering commitment of the 10th House under his leadership to protect the nation’s resources for the good of all citizens as well as deal decisively with the
perpetrators of oil theft, vandalism among other criminalities operations in the oil and gas sector.
The committee, according to the speaker was also charged with the mandate to investigate all activities of oil theft with a special focus on the actions of criminal gangs, militia groups, local communities as well as on companies and security agencies.
He lamented that Nigeria usually depends largely on oil for its national revenue adding that the incumbent administration of President Bola Tinubu is doing everything humanly possible to diversify the economy as well as ensure significant revenue generation in the non-oil sectors of the economy.
On perceived corruption currently bedeviling the sector, the Speaker assured that government is not relenting in the
effort to rid the oil and gas sector of all forms of criminality even as he tasked the Chief of Defence Staff, the Inspector General of Police, IGP, among others to ensure oil theft is made history in Nigeria.
The speaker also lamented that oil Theft in the country has reduced government ability to address the multi-faceted
challenges of national development even as he equally listed other effects of stealing natural resources like oil in the country, attributing environmental degradation, heightened insecurity, piracy, kidnapping, militancy and vandalism,
as well as shut-down of production by many companies to the menace.
He, however disclosed President Bola Ahmed Tinubu’s readiness to increase oil production to 2.6 million barrels per day by 2027 as well as raise it again to 4million barrels per day by 2030 calling for a workable partnership with government organisations among other critical stakeholders for success.
Similarly, the Secretary to the Government of the Federation, George Akume in his remarks disclosed that Nigeria has faced an alarming rise in crude oil theft, resulting in substantial losses that have devastating implications for its economy and national security. The statistics he said are staggering.
Citing the Nigeria Extractive Industries Transparency Initiative (NEITI) 2020 Oil and Gas Report, Akume who was also represented at the hearing indicated that 619 million barrels of crude valued at $46b were stolen in the period 20092020.
He said this has therefore led Nigeria to continually fail to meet its daily production quota as set by the Organisation of the Petroleum Exporting Countries (OPEC). adding that it not only undermines the nation’s revenues but also hampers the provision of essential services that millions of Nigerians rely upon.
On his part, Chairman of the Special Committee on Crude Oil Theft and Losses, Hon. Alhassan Doguwa said the committee has identified that firepower and other weapons of engagement are inadequate compared to the number of security operatives drafted to combat armed crude oil thieves.
According to Hon Doguwa, the NNPC Ltd. has reported 900 infractions on its pipelines, and delayed judicial processes have resulted in the abandonment of cases, allowing culprits to return to their criminal activities. The presence of high-powered illegal infrastructure for exploring and refining crude oil has significantly reduced production to 1,300,000 Bpd from 2,500,000 Bpd.
On his address, Senate Committee Chairman on Petroleum Upstream, Sen. Etim Williams and the former Deputy Speaker of the House Hon Ahmed Idris stressed that it is the responsibility of all Nigerians to team up to fight Oil Theft adding that perpetrators are known faces in the country that should be dealt with.
