Osinbajo Warns Over Consequences of Oil Theft as Officials Canvass for Stiffer Penalties on Offenders
- Oil theft, also known as "crude oil theft" or "petroleum theft," has been a significant issue in Nigeria for several decades
- Experts say the theft of crude oil has led to significant economic losses and environmental damage
- Stakeholders gathered in the Federal Capital Territory, Abuja, to discuss the way forward in addressing the existential issue
FCT, Abuja - The special investigative panel on oil theft and losses set up by the federal government has called for stiffer penalties for persons and organisations found guilty of oil theft in Nigeria.
The call was made on Tuesday, February 21, at the stakeholders' conference on oil theft and losses held in the Federal Capital Territory, Abuja.
Source: Facebook
This is as Vice President Professor Yemi Osinbao, SAN, urged host communities and other relevant agencies not to encourage oil theft, stressing that it leads to economic loss.
Osinbajo said:
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"Oil theft and sabotage of oil and gas assets are a clear and present danger to our economy and national security.
"Not only do they pose a serious threat to oil exploration and our energy economy, but they also impact negatively on revenue accruals to the Federation and the business prospects of investors in the oil sector."
VP Osinbajo further stated that host communities stand to gain immensely from the sustained oil production.
Source: Facebook
He noted:
"This why the communities should work in unison with other stakeholders to ensure increased production.
"When disruption of production of oil theft and losses occur such communities and states inevitably stand to lose immensely given that the benefits of host communities is based on the algorithm principle."
The chairman of the panel and interim administrator of the Presidential Amnesty Programme (PAP), Major General Barry Ndiomu (rtd), regretted that oil theft had had an enormous negative impact on Nigeria's crude oil production, reducing output to 800,000bpd.
He, however, revealed that strategic consultations had been held with the Niger Delta region's state governments and other critical stakeholders to ensure the menace is curbed.
He advocated deploying modern technologies to protect oil assets and reviewing security architecture in the Niger Delta region with a target of stemming the complicity between elements from the host communities, security agencies and industry players.
Maj-Gen Ndiomu noted that the conference resulted from field visits to locations and facilities on and offshore, as well as extensive engagement with various stakeholders in the region.
He added that the conference is part of the panel's strategy to obtain additional inputs, information, and data on the issue.
He stated:
"Our intention is to facilitate honest thought-provoking conversations through critical thinking and brainstorming sessions that will inspire solutions to this problem."
In his address, the National Security Adviser (NSA), Major General Babagana Monguno (rtd) lamented that the problem of oil theft has developed to disturbing levels.
His words:
"The criminals have now increased the level of sophistication, considering the various methods they employ to tap primary pipelines with illegal secondary pipes to load on barges and sell to international collaborators, or to process locally for illicit domestic sale."
He, however, expressed the readiness of the federal government to address the scourge of oil theft with a comprehensive approach, adding that crude oil theft is arguably one of the most significant issues in Nigeria.
The NSA revealed that so far, 83 oil tankers involved in crude oil theft have been arrested, while over 3 million barrels of theft of crude oil has been prevented, and 11 million litres of petrol and diesel recovered.
He noted that technology remains a significant force multiplier for any integrated solution or framework to address the issue.
NNPCL dealing with crude oil theft - Report
In recent years, Nigeria has been confronted with the challenge of identifying the perpetrators of crude oil theft and curbing the criminal act.
Crude oil theft is said to have cost Nigeria a staggering $1 billion in revenue in the first quarter of 2022.
It also prevents the country from benefitting from the current global oil boom, according to a Legit.ng report.
Employment: Ijaw Youth Council reacts as Niger Delta ex-militants get jobs
Legit.ng had earlier reported that Maj-Gen Ndiomu recently facilitated the strategic engagement and employment of ex-Niger Delta militants in various security agencies and ministries in the country.
Reacting to the news, the president of Ijaw Youth Council IYC Worldwide, Comrade Peter Igbifa, commended the PAP boss for the initiative.
Such employment opportunities range from Nigeria's Civil Defence, Police, and Navy as well as international oil companies.
Source: Legit.ng
