Vice President Yemi Osinbajo says oil theft in Nigeria is being carried out by cladestein syndicates and such organised crimes can’t be executed without the complicity of the regulatory institutions.
He made statement at the stakeholders conference in oil and losses in Nigeria held in Abuja.
December 2022, the National Security advisor, Major General Babagana Monguno(Retd) inaugurated an 11-man special investigative panel to look into cases of oil theft and oil losses in the country.
The panel is chaired by the interim administrator of the presidential Ministry program Major General Barry Ndumu with David Attah as secretary.
The federal government had also awarded pipeline surveillance contracts to some private individuals, these led to the discovery of an illegal connection used in the diversion of crude oil along the trans escravos pipeline.
Less than three months after its inauguration, the panel is holding its stakeholders conference.
Osinbajo stressed that oil theft is a crime so grievous that it cannot simply be a subject of summitry; “people must do their jobs and if they are unable to do them, then there must be an accounting for such failures. Institutional and personal reputations are at stake.”
He expressed concern that “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.”
Noting that the Federal Government prioritised the development of the Niger Delta, as well as the protection of oil assets, the Vice President emphasized that the theft of crude oil and the accompanying attacks on our energy infrastructure, especially in the Niger Delta, have since the inception of the present administration, been of utmost concern.
The conference is a follow-up with months of visit to locations and Facilities on and offshore across the Niger Delta, like the float station in Burutu, Delta State where an illicit connection on an export line that fed off on the trans escravos line was discovered, several other connecting points for illegal Refinery was also discovered.
The stakeholders conference with a theme “Protecting petroleum industry assets for improved economy” will strengthen the relationship between the security agencies, the NNPCL, International oil companies and local communities.
Continuous collaboration among relevant stakeholders in the oil and gas industry will help in the destruction of illegal refineries and illegal connection also see prosecution of perpetrators can bring confidence to International
investors.
