The Federal Government of Nigeria has revealed that it is determined to stop the huge cases of oil theft in its oil industry which is plaguing production. It stated that it has identified a 3 element solution to put an end to the issue of oil theft.
This was disclosed by Timipre Sylva, Minister of State for Petroleum during an on-the-spot assessment of some pipelines negatively impacted by the unwholesome activities of the criminals in Ibaa Community of Emeoha Local Government of Rivers State.
The Minister stated said that the days of crude oil thieves, pipeline vandals & illegal bunkers were numbered as FG would no longer condone any affront on the nation’s oil/gas installations
What the minister is saying
He stated the single biggest problem in Nigeria’s oil industry is the problem of security.
“This has come to the attention of everyone including the president who has directed myself and the security agencies to ensure the problem is handled.
“I agree that there are 3 elements to the solution of the problem. The communities must be involved, the security agencies as law enforcement agents of the government must be involved, and the operating companies must also be involved.”
“All the elements are complete now. We are here as government, the operating companies are here and we are going to the communities and I believe that finally this problem would be resolved. We are determined to stop it because we can’t afford insecurity in the oil industry,” Sylva said.
He added that the criminals have their days numbered, and the FG is determined to reclaim the industry for the country because the country has lost so much from the activities of the criminals.
What you should know
Nairametrics reported last week that Austin Avuru, founding MD/CEO of Seplat Energy and Executive Chairman AA Holdings warned that Nigeria’s oil production has reached an emergency critical status. He stated that some oil production wells don’t get to see 80% of production making it to the terminals due to oil theft.
Tony Elumelu, Chairman of UBA Banking Group and Heirs Holdings has stated that the reason Nigeria cannot meet its crude oil production quota and benefit from high oil prices is due to theft.
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