Vice president Yemi Osinbajo says oil theft in Nigeria is being carried out by clandestine syndicates and such organized crimes can not be executed without the complicity of the regulatory institutions.
He made this state at the stakeholder’s conference on oil and losses in Nigeria held in Abuja
In December 2022 the National Security Adviser, 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 Amnesty Programme, Major General, Barry Ndiomu, with David Attah as Secretary.
The special panel is to address the protracted cases of oil theft and the steady decline of revenue generation from petroleum products.
The Federal government had also awarded pipeline surveillance contracts to some private individuals.
This led to the discovery of an illegal connection used in the diversion of crude oil along the trans escarvos pipeline.
Less than 3 months after its inauguration the panel is hold its stakeholders conference with the theme
It is a follow up to months of visits 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 feeds off on the trans escarvos line was discovered.
Several other connecting points for illegal refinery were also discovered.
The panel also visited water smith refinery in Owerri , Imo state which reveals the supply challenges the company face with massive drop in product volumes when pumps fail in export line.
This stakeholders conference with the theme protecting petroleum industry assets for improved economy will strengthen the relationship between the security agencies, NNPC , International oil companies and local communities.
The special panel is to address the protracted cases of oil theft and a steady decline in revenue generation from petroleum products.
