Politics

Oil Theft: Nigeria Loses 700,000 Barrels Daily – FG

The Minister of Information and Culture, Lai Mohammed, has stated that the Federal Government is determined to end crude oil theft through “the deployment of technology and additional security measures, lamenting that Nigeria loses approximately 700,000 barrels of oil daily.

Mohammed said this via a statement on Friday after a press briefing in Abuja.

According to him,  “The investment in technology has become critical because the nefarious activities of vandals are causing Nigeria to lose approximately 700,000 barrels of oil daily.

The Minister noted, “The continued campaign of security agencies has led to the “arrest of 210 suspects and confiscation of 20.2 million litres of AGO, 461.8 thousand litres of PMS, 843.6 thousand litres of DPK, and 383.5 thousand barrels of crude oil.”

He added, “An additional 365 illegal refining sites were destroyed, with about 1,054 refining ovens, 1,210 metal storage tanks, 838 dugout pits, and 346 reservoirs destroyed by the GSAs.”

He maintained, “We witnessed first-hand a number of illegal refineries destroyed by our military in the course of our aerial surveillance. The new security architecture leverages collaboration between the upstream operators, industry regulators, government security agencies, and private security contractors.”

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Esther Ifeoluwa

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