From Ndubuisi Orji Abuja
The House of Representatives Special Committee on Crude Oil Theft and Losses, has appealed to the Nigerian Navy to assist it with relevant information to unravel those behind crude oil theft in the country.
Chairman of the Committee, Alhassan Ado Doguwa made the appeal, at a special engagement with the Chief of Naval Staff, Vice Admiral Emmanuel Ogala. Doguwa assured that every information obtained confidentially by the committee shall be handled with utmost care.
The lawmaker explained that crude oil theft is a major challenge to the country, hence the committee desire to collaborate with relevant security stakeholders that have long been existing on the space to fight against these criminalities.
According to him, “you can all recall that the recent projection for the year 2024, the parliament budgeted about 28.77 trillion naira based on crude oil bench mark of $77.96 per barrel and the production of 1.78 million barrels per day. In January 2024, Nigeria oil production rose to about 1.42 million barrels per day, this represents an increase of about 6.85 percent compared to the the production figure of 1.39 million barrels per day in December 2023.
“Though there seemed to be a gradual improvement of oil production, but we are still bellow the OPEC quota of 1.58 million barrels per day in the 2024 budget benchmark. The major reason the country is not meeting her production targets is largely attributed to crude oil theft . This theft is being carried out in collusion, that not only threaten the economy of the country but have even precipitated crisis bothering on national security.
“You may recall that in 2022 NEITI report, which is the key parameter for our economic projections, the agency stated that about 619.7 million barrels of crude oil, valued at over $46.16 billion was stolen within the period of 12 years”, a situation he said have been reported variously in the media as the situation seemed not to be abetting
“In order to address these criminalities, the house instituted this special committee, and charged it with the responsibility of investigating all dimensions of oil theft and with a view to bringing all culprits to book ..”
The Chief of Naval Staff, Vice Admiral Emmanuel Ogala agreed that oil theft is major challenge to the country’s economy. Ogala stated that the Navy has adopted a framework for a total maritime safety strategy.
He added that “there must be adequate collaboration with other agencies, and working with communities, international organizations and others”.