Rivers
Oil Theft: ‘Nigeria Loses $100bn’
In the past ten years Nigeria has lost not less than 100billion dollars to oil theft, the Pipeline Professional Association of Nigeria (PPAN) has said.
Chairman of the body, Dr. Joseph Dorgu gave the figures in a media interactive forum organised by Silverbird Communications in Port Harcourt at the weekend.
He said the menace will continue if the socio-political factors are not well addressed pointing out that oil theft is not peculiar to Nigeria.
Dr. Dorgu lamented that Nigeria’s oil theft problem will continue to swell daily unless the government and the stakeholders work out lasting measures.
In the view of the PPAN President, over 45 million naira worth of crude is stolen daily,noting that the cosmetic approach adopted by the authorities will continue to encourage the criminal act.
Dr. Dorgu said, “ the issue is not technology problem but lack of response capability and a constitutional matter”, the sooner we start addressing the issue at a wholistic level, the better for all of us’’.
He called for a joint effort by stakeholders, emphasising that the new Petroleum Industry bill (PIB) will not make impact until the plight of access, host and oil producing communities were fully addressed.
In addition, he suggested that a social scheme be evolved to tackle problem of increasing unemployment noting that “pipeline vandalism induce a permanent loss of functionality ‘’.
Dr. Dorgu also recommended the setting up of a special intelligence monitoring unit of pipelines and disagreed that more stiffer penalties for vandals will curb oil theft.
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