Govt’s Culpability in Crude Oil Theft

2014 report highlighted scale of problem.

Govt’s Culpability in Crude Oil Theft

The recent ban on 113 vessels from Nigerian territorial waters by President Muhammadu Buhari, is an indication that the previous administration probably knew the oil thieves but lacked the political will to clamp down on the perpetrators. Ejiofor Alike reports

Nigeria’s loss of revenues due to crude oil theft reached alarming proportions during the administration of former President Goodluck Jonathan when it threatened the implementation of the federal government’s annual budgets.

During this period, top officials of the government and the international oil companies (IOCs) bandied different figures, representing what Nigeria lost yearly to crude oil theft and illegal bunkering.

To continue reading, please click here.

Source: thisdaylive.com