The Secretary to the Government of the Federation (SGF), Senator George Akume said the statistics regarding losses to oil thieves were shocking as the country lost 619 million barrels of crude valued at $46 billion in 10 years.
Akume, disclosed this while speaking at a two-day public/investigative hearing organized by the House of Representatives on crude oil theft and losses in Nigeria.
Represented by the Permanent Secretary, of General Services, Maurice Nnamdi, the SGF said the Government has also spent over USD 1.5 billion since 2020 to address crude oil theft and secure oil infrastructure.
The Secretary to the Government of the Federation (SGF), Senator George Akume, disclosed this while speaking at a two-day public/investigative hearing organized by the House of Representatives on crude oil theft and losses in Nigeria.
“For example, the Nigeria Extractive Industries Transparency Initiative (NEITI) 2020 Oil and Gas Report indicates that 619 million barrels of crude valued at $46 billion were stolen in the period 2009-2020.
“Therefore, Nigeria has continually failed to meet its daily production quota as set by the Organisation of Petroleum Exporting Countries (OPEC). This not only undermines our revenues but also hampers the provision of essential services that millions of Nigerians rely upon.
“The government has invested considerable resources in combating this menace. Since 2020, expenditure aimed at addressing crude oil theft and securing our oil infrastructure has exceeded $1.5 billion.
“These funds have been allocated towards enhancing surveillance capabilities, securing pipelines, and increasing the presence of law enforcement agencies in critical oil-producing areas,” he said.
In his address, the Speaker, Abbas Tajuddeen who was represented by his Deputy, Benjamin Okezie Kalu, said the Tinubu administration is not relenting in the efforts to rid the oil and gas sector of corruption and all forms of criminality.
He added that the government was doing everything possible to diversify the economy and ensure significant revenue generation in the non-oil sectors of the economy.
In a goodwill message, a former Deputy Speaker, Rep. Ahmed Idris Wase, said oil theft had caused a national embarrassment to Nigeria.
Earlier, in his address, the chairman House Special Committee on Oil Theft/Losses, Rep. Alhassan Ado Doguwa, said his committee received several issues, including vessels transporting stolen crude oil undetected, collaboration among government and security agencies in illicit activities and the inefficiencies of current measures to combat oil theft.
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