Business
Nigeria Loses N940bn Annually To Crude Theft
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) says the country loses six billion dollars (about N940 billion) annually to crude oil theft.
PENGASSAN’s President, Babatunde Ogun, made this known at a joint forum with the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) in Lagos, recently.
He said that Nigeria also lost N105 billion to theft of refined products.
“This is a threat to our national security and our democracy. If this kind of huge amount of money gets into the wrong hands, it can destabilise our democracy and national security,’’ Ogun said.
He blamed the incessant loss of billions of money on vandalism of crude oil and petroleum products’ pipeline.
He express regrets that security forces had been unable to arrest the unwholesome practice which led to fire disaster in Arepo and Ogun and the subsequent shut down of Nembe Creek Trunk line by Shell.
“An estimated 60,000 barrels per day of crude oil is stolen at Nembe Creek. Agip also suspended production in Bayelsa because 60 per cent of its production of about 90 barrels is stolen per day.’’
He said it was sad that no one had ever been caught or prosecuted even when the miscellaneous offence Act provides for life imprisonment for anyone who stole crude oil, petroleum product or vandalised pipelines.
He advised government to beef-up security and warned that the oil and gas sector would suspend production of crude oil and supply of petroleum products if nothing was done.
Ogun called on government to deal with the insecurity problem in view of the resurgence of kidnapping and continuous bombings.
The president urged governors and local government chairmen to channel their security votes to step-up intelligence gathering and surveillance to nip crime in the bud at the planning stage.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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