Crude Oil Theft: Minority Reps Blast APC-led Govt, Make Key Demand

Crude Oil Theft: Minority Reps Blast APC-led Govt, Make Key Demand

  • The arrest of MV Heroic Idun by Equatorial Guinea forces over alleged crude oil theft in Nigeria has been described as a conspiracy with the APC-led government
  • The minority caucus of the House of Representatives alleged that the present administration is complicit in the criminal activity
  • According to the leader of the caucus, the arrest of the supertanker in far away Equitorial Guinea underscores the massive sleaze in the nation’s oil and gas sector under the APC administration

The minority caucus in the House of Representatives has expressed shock over the massive oil theft in the country.

Describing the criminal activities as an organized racket under the ruling All Progressives Congress (APC) administration, the caucus said its members are disturbed by reports of alleged complicity by certain corrupt government officials on the matter.

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Ndudi Elumelu, oil theft, APC, Muhammadu Buhari, MV Heroic Idun
The House of Reps minority caucus has called for an investigation of criminal entrance and berthing of a 3-million-barrel capacity super tanker in Nigeria. Photo: Muhammadu Buahri, Ndudi Elumelu
Source: UGC

This was contained in a statement released on Saturday, August 20, and shared with, by the minority leader of the House of Representatives, Ndudi Elumelu.

Elumelu said that the complicity of the present administration is evidenced in the clandestine entrance and berthing of a 3-million-barrel capacity supertanker, MV. Heroic Idun in Nigerian waters to criminally load millions of barrels of stolen crude oil from Nigeria

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According to the minority leader of the House, such reported complicity is also evidenced in the failure of the Nigerian authorities to effectively intercept and arrest the criminal tanker and its crew.

He said this negligence has successfully left the Nigerian waters only to be apprehended by the Equatorial Guinea Navy.

His words:

"This shocking development underscores the massive sleaze in our nation’s oil and gas sector under the APC administration, with a consequential crippling effect on our overall national economy and social wellbeing.

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It is indeed disturbing that under the APC administration, according to official reports, oil thieves are having a field day stealing up to 400,000 barrels of crude oil every day. This amounts to a daily siphoning of about $40m (given the current average global oil price of around $100 a barrel) accrued revenue meant for the wellbeing of Nigerians.
"Our caucus is saddened because such enabled sleaze is responsible for the crippling of our products and services sectors, massive unemployment; the collapse of our critical sectors including education, health and power; unbearable infrastructural stagnation and escalated insecurity with attendant excruciating hardship on our citizens."

Adding that the caucus stands with Nigerians, Elumelu demanded an immediate, independent and open investigation into the issue of oil theft in the country with particular reference to the circumstances that facilitated the reported illegal operation by MV Heroic Idun and its escape from the nation's waters.

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 He said:

"Who granted the vessel entry into Nigeria's water? Who granted it facilities to illegally berth and pump stolen crude oil? What circumstances facilitated its escape from the Nigerian waters? Who is the vessel working for and who are those behind the illegal operation?
 "The Minority caucus commends the patriotic officers of the Nigerian Navy for their collaboration with Equatorial Guinea Navy to effect the arrest of the criminal vessel and urges such officers to assist in ensuring that those behind this repulsive crime against our nation are all brought to book.
 "Our Caucus also urges President Muhammadu Buhari to, in the interest of suffering Nigerians, rise to the occasion and take urgent steps to halt the haemorrhaging of our national economy through crude oil theft."

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More International oil companies are beginning to diversify their assets from the Nigerian oil industry as they take a good look at the clean energy market.

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Shell and Mobil oil are some of the companies looking to say goodbye after years of playing a major role in the Nigerian oil industry.

The oil companies are selling assets to Nigerian billionaires like Elumelu, who are trying to increase their riches.

Oil companies take Investments to Libya

Meanwhile, had earlier reported that oil companies are taking their investment to Libya after the country's long-decade of war look over.

The report noted that the oil companies have expressed their desire to invest in Libya, due to the recently found stability.

It was also noted that the international oil companies leaving Nigeria is due to an increase in bunkering and vandalism of oil facilities.


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