Economic Sabotage: ‘Massive crude oil thefts pushing Nigeria’s economy into coma’ – Senate President  

…Gbajabiamila also expresses concern The Senate President, Ahmad Lawan, yesterday lamented that the generation and collection of revenues have remained Nigeria’s major challenges as well as the massive loss of revenue through oil theft, saying it is “debilitating and threatening to throw the nation’s economy into a coma”. Lawan, who made the observation in his opening speech while welcoming his colleagues from the long annual recess, noted that “revelations about the scale of oil theft shows that until the Government take decisive actions, Nigeria could soon lose any such revenue…

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Amidst $5bn revenue loss in 2 months, Peter Obi accuses govt. agencies of massive crude oil theft

The presidential candidate of the Labour Party, (LP), Peter Obi, says people in the Government are responsible for the massive oil theft that has blocked Nigeria from benefiting from the boom in oil prices and deprived its economy of the much-needed petrodollars. Obi, who stated this during the Lagos Chamber of Commerce and Industry (LCCI) private-sector economic forum yesterday, said, “People in the Government are the ones stealing oil. Nobody here can steal oil. He added that: “There’s no way under my watch that we will not find a solution…

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Oil theft: FG orders immediate dissolution of NSCDC anti-vandalism units nationwide

The Federal Government has ordered the immediate dissolution of all anti-vandalism teams of the Nigeria Security and Civil Defence Corps, (NSCDC), nationwide pending an on-going investigation into allegations of compromise and corruption. The Commandant-General of the Corps, Dr. Ahmed Audi, made this known at a media briefing after a closed-door meeting with 36 States Commandants and the FCT Commandant as well as top management members of the agency held at its headquarters, yesterday, in Abuja. According to the NSCDC boss, the dissolution was due to the uninspiring performance of the…

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‘Most crude oil theft occurs off-shore’ – Navy

The Nigerian Navy has said the majority of crude oil theft in the country occurs in offshore facilities of oil companies. The Commander of Nigerian Navy Ship (NNS) Pathfinder, Commodore Suleiman Ibrahim, made the claim during an interactive session with newsmen in Port Harcourt, the Rivers State capital. Ibrahim warned that the country will continue to lose huge revenue if it continues to pay attention only to illegal bunkering activities going on onshore. He expressed his regret that despite the directive of Rivers State Governor, Nyesom Ezenwo Wike, chairmen of…

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Video Surveillance: In race to curb rising theft, NNPC adopts Saudi Aramco’s model

With losses from pipeline vandalisation and theft overwhelming Nigeria’s oil business in recent weeks, the Nigerian National Petroleum Company Limited (NNPC) has said it is adopting Saudi Aramco’s model of using video surveillance to monitor its pipelines carrying crude oil from wells to flow stations in the Niger-Delta. The Group Chief Executive Officer (GCEO) of NNPC Limited, Mele Kyari, disclosed this during a press briefing at the State House in Abuja yesterday. According to him, “We have put up a control centre, it started in April 2022; it’s not yet…

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Crude Oil Theft: ‘Criminal foreign shipowners, FG officials behind illegal shipments in Nigeria’ – SDP presidential candidate

The presidential Candidate of the Social Democratic Party, (SDP), Prince Adewole Adebayo has revealed that Nigeria loses about $4.4 billion monthly to oil theft masterminded by “Nigerians who have become International Criminals, with its attendant effect on environmental degradation. Adebayo made the disclosure on Monday, during the commissioning of the SDP campaign secretariat for Delta Central along Effurun-Sapele road, Delta State. The SDP presidential candidate, while accusing the Federal Government of being behind oil theft activities in the Niger-Delta region, revealed that the country is currently losing the said amount of…

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Economic Crimes: Buhari orders NSCDC to halt crude oil theft

President Muhammadu Buhari has ordered the Nigeria Security and Civil Defence Corps (NSCDC) to stop crude oil thefts and vandalism in the Niger-Delta region to put an to the menace of oil theft and bunkering, that is taking a toll on the nation’s economy and bring all perpetrators of such crimes to justice. The Commandant-General of the NSCDC, Dr. Ahmed Audi, who stated this at the headquarters of the Corps in Abuja, said the President has ordered the NSCDC to use all means possible to protect the nation’s critical assets…

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Theft: Nigeria loses N1.3bn crude oil in 2 weeks – DHQ

…Arrest 21 vandals, destroy illegal refineries in N’Delta The Military High Command, yesterday, said that the nation has lost crude oil valued at N1.3 billion to oil thieves involved in illegal bunkering activities in the Niger-Delta region of the country in the last two weeks The Director of Defence Media Operations, Major-Gen. Musa Danmadamim, disclosed this to defence correspondents at the bi-weekly press briefing on the operational activities of the Nigerian Armed Forces and other security agencies from the various operational theatres in the six geo-political zones of the country…

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2022 NBA Conference: “Illegal mining as much of a danger as oil bunkering” – Gov Lalong

Plateau State Governor, Simon Lalong, has said critical steps need to be taken to tackle illegal mining which constitutes economic and security challenges to the country in most parts of the North, just as oil bunkering does in the South. Lalong disclosed this yesterday, in a press statement signed by his Director of Press and Public Affairs, Dr. Makut Simon Macham, after his contribution to eliminating oil bunkering in the country at the on-going Annual National Conference of the Nigerian Bar Association, (NBA), held in Lagos State. According to him,…

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Stakeholders decry how Govts frittered $22bn from ECA in 12 yrs

…As Reps Caucus decries crude oil theft, urges probe of officials Various Nigerian stakeholders have lamented that the wasteful culture, poor management, corruption, lack of trust between State and Federal Governments as well as a worsening fiscal outlook may have played key roles in the depletion of the over $22 billion left in the Excess Crude Account (ECA) some 12 years ago. Recall that in less than 12 years, after the death of former President Umaru Musa Yar’Adua, Nigeria has depleted the ECA from a whopping $22 billion to only…

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