Nigerian Economy Suffers Monthly Loss of $7.2 Million from Uncovered Illegal Crude Oil Connection in Abia State

98662 nigerian economy suffers monthly loss of 7 2 million from uncovered illegal crude oil connection in abia state
98662 nigerian economy suffers monthly loss of 7 2 million from uncovered illegal crude oil connection in abia state

An oil theft situation assessment delegation, appointed by President Bola Tinubu and dispatched to the Niger Delta, made a startling discovery on Saturday—a clandestine illegal oil connection. Following the illicit connection’s exposure in Owaza, Abia State, the Nigerian National Petroleum Company Ltd. disclosed a monthly average loss of $7.2 million for the country. The team’s observations also highlighted the presence of clandestine refineries, illegal bunkering operations, and environmental devastation, all contributing to severe economic losses.

Headed by the Minister of Defence, Muhammed Badaru, the delegation includes service chiefs, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, amongst others. During their visit to the Trans-Niger Pipeline Right of Way in Owaza, Abia State, the team uncovered an array of dismantled illegal connections.

At the site, Mr. Badaru offered a firm message, stating, “We are ready to do whatever it takes for a peaceful Niger-Delta. Cease and desist from crude oil theft and economic sabotage.”

Echoing these sentiments, Mr. Mele Kyari, the Group Chief Executive Officer of NNPC Ltd., highlighted the importance of collaboration with oil-bearing communities in curbing oil theft. He emphasized that while oil theft in vessels could be tracked, efforts to combat theft within communities require the active involvement of these communities themselves. Mr. Kyari underscored the detrimental impact of oil theft on Nigeria’s ability to meet its daily production quota as stipulated by OPEC.

Patrick Godwin, the Chief Security Officer of Pipeline Infrastructure Nigeria Ltd., reported that several arrests had been made, and culprits were arraigned. Mr. Nuhu Ribadu, the National Security Adviser, expressed appreciation for the concerted efforts of security agencies, community security contractors, and NNPC Ltd. in the fight against oil theft and economic sabotage. He emphasized the urgent need to protect the environment, safeguard livelihoods, and prevent further revenue loss that could strengthen the Nigerian economy and bolster the Naira.

Overall, the uncovered illegal crude oil connection in Abia State serves as a significant reminder of the ongoing challenges posed by oil theft in Nigeria. The government, industry stakeholders, and communities must join forces to eradicate this menace, preserve the environment, and safeguard the nation’s economic well-being.

NAN

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