The Nigerian Extractive Industries Transparency Initiatives has been commended for its candour in exposing the rot in the Petroleum sector with the recent report of the Theft of 619.7 Million Barrels of Crude Oil in the last 11 Years valued at N16.25 Trillion Naira.
Adewale Adeoye while reacting to the story described the decision as a Legacy of the Olusegun Obasanjo administration which signed the NEITI Bill into Law in 2006.
He said the astounding nature of the Theft is mind boggling and an insider Job that cannot be done by small boys but Politicians, Security agents and Others are involved in with a global cartel that has been ripping Nigeria off over the last few years.
He said the theft has almost crippled the country with the connivance of many Nigerians in all the facets of the Nations’ Society.
He said the theft despite the noise is still an ongoing concern that needs proper attention but urged caution while the populace should wait for what the government will do on the issue.
Dare Odufowokan, said the government needs to do more to address the issue through policies that are made specifically to ensure this does not happen again.
Going Further, he asked that a situation where Foreigners are coming to Nigeria specifically to engage in Oil bunkering shows the level to which the rot has set in the sector.
He said attention needs to be paid to the “Big Boys” who are behind the theft adding that until they are put out of Business Nigeria will not get the full benefit of the Oil Sector.
He likened what is happening in the sector to what obtains in the Drug business in Nigeria with the National Drug Law Enforcement Agency always running after small fries until the emergence of Brigadier General Buba Marwa as the Chairman who has gone after the Big Boys and has ensured that a lot of changes have occurred.
