Stakeholders’ engagement yielding results in fight against crude oil theft

Philip Daniel Yatai
Mar, Fri, 2024

Oil & Gas

Stakeholders’ engagement yielding results in fight against crude oil theft

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By Naomi Sharang

The Crude Oil Theft and Management Committee, under the National Economic Council (NEC) says its engagement with stakeholders is yielding positive results against crude oil theft.

The Chairman of the Committee and Gov. Hope Uzodimma of Imo said this when he briefed newsmen in Abuja.

He said that the trend of crude oil theft was particularly worrisome and tackling it decisively would improve Nigeria’s oil production profile.

“The committee’s job is to look into crude oil theft, the control of the theft and prevention of the theft.

“Arising from that we have been able to do fact findings. We have made a lot of consultations, we spoke to critical stakeholders, and we are beginning to see light at the end of the tunnel.

“It is our hope that at the end of this assignment, we will put together a report that is very bold and courageous that will be useful to NEC,” he said.

Uzodimma said that the report would help stop the monster called crude oil theft.

“So that the nation’s natural resources, oil and gas should be able to help, support and develop the country.

“I don’t think so and I have not seen it anywhere that Nigeria is going to import or is importing crude oil.

“Of course, the sector is gradually being deregulated. There are now private refineries. Of course, under an open market system, private refineries can buy their crude oil from any market anywhere in the world.

“But for Nigeria as a country, currently we are exporting crude oil,” he said. (NAN)

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