Due to the possibility of crude oil theft, the Nigerian National Petroleum Company Limited has made a request to the Economic and Financial Crimes Commission for assistance in fighting the issue. The company says that as a result, no one is willing to invest in the oil industry.
At an interactive meeting with Ola Olukoyede, the Executive Chairman of the EFCC, on Monday at the NNPC Towers in Abuja, the Group Chief Executive Officer of the NNPCL, Mele Kyari, made the appeal.
The company's helmsman reportedly addressed efforts to stop pipeline vandalism, theft of crude oil, and corruption in the system in a statement provided by NNPCL spokesperson Olufemi Soneye.
Kyari had maintained that crude oil theft was the largest and virulent economic crime in Nigeria that needed to be brought to the EFCC's attention due to the amount of oil that was stolen every day and the brazenness with which the offenders operated.
We will keep working to eradicate corruption from the system and increase transparency, but there is one major obstacle that we need your assistance with, Mr. Chairman. Crude theft is that challenge. It links into everything you've mentioned, including the lack of deterrence, the opportunity, the people, and the asset.
In the Niger Delta region, 6,409 illegal refineries have been shut down. Out of the 5,543 illegal connection sites, we have disconnected up to 4,846 illegal pipes that were attached to our pipelines today. This indicates that there are a great deal of these linkages that we have left in place.
These are not exclusively blues-related occurrences. They take place in well-known towns and locales. A new illegal connection appears as we remove the previous one. Mr. Chairman, it is sad," Kyari had said.He says that there is nowhere else in the world where this type of oil theft happens.
"When we talk about illegal connections, we're talking about large pipes that need to be put with a certain amount of expertise—they're not just invisible objects. A few of them are the same size as the actual trunk line. Knowing full well that crude oil will never reach the terminal, no one would create it. That explains why no capital is being invested in the company. Thus, productivity cannot be increased.”
The GCEO complained, "In my opinion, the primary goal of your commission is to ⁹reduce economic crimes, and nowhere else is there a greater economic crime of this magnitude than what is occurring in this region.
Speaking, it was reported that Olukoyede, the head of the EFCC, expressed his delight with NNPCL's dedication to moral and code of conduct difficulties.
In order to improve deterrence, he had urged management to make sure that rules and codes of conduct are supported by oversight and enforcement.
that despite efforts to stop the pattern, crude oil theft has increased in the Niger Delta.
It has been recognised as one of the causes of the decreasing amount of oil protection and the move of several multinational oil firms in order to divest.
