Oil theft Conumdrum: Alibi for FG’s revenue shortfall- Expert
By Ogaga Ariemu
After the discovery of crude oil in commercial quantity in Oloibiri Bayelsa State, the challenge of oil theft has persisted untamed. From the creeks in Delta to Bayelsa states, the illegal business of oil bunkering lingers. Year after year, the oil theft has continued to be a source of worry to the Nigeria Government.
Meanwhile, there have been a fresh onslaught against perpetrators of oil bunkers, vandalism in the Niger Delta region, led by Operatives of Tantita Security Services Limited (TSSL), a company owned by ex-militant leader, Government Ekpemupolo, alias Tompolo.
Tompolo had recently told reporters that there are 58 illegal points in Delta and Bayelsa States where crude oil is being stolen.
However, speaking on the recent surge against oil theft, an expert has told NewsDirect Newspaper that the ‘renewed’ clamp down could be a deliberate effort by the federal government to justify its oil revenue shortfall in the period under review.
In the first quarter of this year, Federal Government said the country lost N1.3trillion to crude oil vandalism and theft in the Niger deltan region.
Another government figure has it that on a monthly basis, the country lost over N304 billion naira to oil theft, vandalism.
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revealed that most oil theft activities emenates from Bonny Terminal Network, Forcados Terminal Network and Brass Terminal Network. The Implication of the activities of oil theft has a far-reaching negative effects on the Nigeria economy.
Nigeria’s frequent failure to meet its oil production quota set by the Organisation of the Petroleum Exporting Countries (OPEC); Revenue depletion; environmental degradation are evidential implication of oil theft.
Reacting to the development in a chat with NewsDirect Newspaper on Friday, an oil and gas analyst, Mr Charles Majomi said that the amount of oil theft taking place in the Niger-delta creeks cannot be done without the connivance of senior government officials in Nigeria.
He disclosed that if the Government genuinely want to tackle the menace, a transparent and thorough investigation by third-parties, unconnected to state apparatus should be set up.
“One has to wonder at the timing. This scourge did not start today, and has been ongoing for years. So it might be. Coupled with the fact that there doesn’t seem to be any credible ongoing efforts to bring the culprits to book”, Majomi noted.
As a way out, he suggested that, “A transparent and thorough investigation by third parties, unconnected to the apparatus of State.
“If, as we have been made to believe, this is an industrial scale exercise-comprising multiple elements from the security services, the NNPC and International Oil Companies(IOC’s), it hardly makes sense for those same elements to be the ones conducting the investigation.
“This level of theft could not have been perpetrated without senior level connivance by members of these institutions”, he stated.
