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Publish Names Of Oil Thieves, Or Face Legal Action, SERAP Tells Buhari
Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “promptly set up a presidential panel of enquiry to thoroughly, impartially, and transparently investigate the operations of illegal oil pipelines from 2001 to date, and to widely publish the names of anyone suspected to be involved.”
SERAP urged him to “ensure the prosecution by appropriate anti-corruption agencies of anyone suspected to be responsible for the plundering of the country’s oil wealth and the full recovery of any proceeds of crime.”
SERAP also urged him to “promptly authorise the investigation of reports of the destruction of an oil bunkering vessel by security agencies and to ensure that suspected owners of the vessel are identified, named and brought to justice.”
SERAP’s letter followed the recent reports that two illegal pipelines used to steal the country’s oil wealth from Forcados Terminal, and connected to the 48-inch Trans Forcados Export Trunk line, have been uncovered.
In the open letter dated October 15, 2022, and signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation said: “Poor and socio-economically vulnerable Nigerians have continued to pay the price for the stealing of the country’s oil wealth apparently by both state and non-state actors.”
SERAP said, “Your government has a legal obligation to ensure that the country’s oil wealth is used solely for the benefit of the Nigerian people, and that the wealth does not end up in private pockets, for the sake of the present and future generations”.
The letter, read in part: “Despite the country’s substantial oil wealth, successive governments have largely squandered the opportunity to use the wealth to improve the lives and well-being of ordinary Nigerians. This is a clear violation of the government’s anti-corruption and human rights obligations.
“We would be grateful if the recommended measures are taken within 14 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest.
“SERAP urges you to consider referring the reports to the prosecutor of the International Criminal Court (ICC) to investigate whether the allegations of oil theft in the country amount to crimes against humanity within the jurisdiction of the ICC, and to surrender all suspected perpetrators for trial by the ICC.
“SERAP is concerned that the illegal pipelines have been operated for many years without notice, implying a flagrant violation of constitutional and international obligations to ensure the proper, effective and efficient management of the country’s wealth and natural resources.
“It is in the public interest to promptly investigate the discovery of the illegal pipelines, publish the names of those suspected to be involved, and ensure that they are brought to justice, and that any proceeds of crime are fully recovered.
“Taking these steps would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition and improve public confidence in the fight against corruption and related crimes, especially in the oil sector.
“As the President and Minister of Petroleum Resources, you and your government have a legal responsibility to ensure accountability for these human rights crimes, and end the culture of impunity, which is fuelling the stealing of the country’s oil wealth.
“The proposed presidential panel of enquiry should be headed by a retired justice of the Supreme Court or Court of Appeal, and its members should include people with proven professional record and of the highest integrity that can act impartially, independently, and transparently.
“The plundering of the country’s oil wealth has resulted in the downward trend in revenue and increasing level of borrowing, with reports of a projected N11.30trillion deficit budget for 2023.
“SERAP is concerned that the unaddressed plundering of the country’s oil wealth has for many years contributed to shrinking revenue, chronic underfunding of public goods and services such as education, health, and access to safe drinking water, recurring budget deficits, growing level of borrowing, and unsustainable debt profile.
“According to our information, security agencies recently reportedly uncovered an illegal pipeline used to steal the country’s oil wealth for nine years from Forcados Terminal.
“Another illegal pipeline connected to the 48-inch Trans Forcados Export Trunk line, at the rear of a military security post in Burutu Local Government Area, Delta State has reportedly been discovered.
“The discovery of the second illegal pipeline followed the recent destruction by security agents of a vessel allegedly used for crude oil theft off the Niger Delta creeks. About 58 illegal oil points have reportedly so far been discovered.
“Section 15 Subsection (5) of the Constitution requires your government to abolish all corrupt practices and abuse of power.
“The UN Convention against Corruption and the African Union Convention on Preventing and Combating Corruption to which Nigeria is a state party obligate your government to effectively prevent and investigate acts of corruption and hold public officials and non-state actors to account for any violations.
“Specifically, Article 26 of the UN convention requires your government to ensure ‘effective, proportionate and dissuasive sanctions’ including criminal and non-criminal sanctions, in cases of grand corruption.
“Article 26 complements the more general requirement of Article 30, paragraph 1, that sanctions must take into account the gravity of the corruption allegations.
“According to a Nigeria Extractive Industries Transparency Initiative (NEITI) audit report, 160million barrels of crude oil valued at $13.7billion, was stolen in four years (2009-2012). There is also report of $17billion debt of under-declared crude oil lifted by some international oil companies (IOCs) between 2011 and 2014.
“According to reports, Nigeria has seen increased oil theft in recent years. The country loses 470,000 barrels of crude oil monthly amounting to $700million to oil theft.
“The country has reportedly lost $10billion to crude oil theft in seven months, which is stated to be more than 50per cent of Nigeria’s external reserves. The Chatham House, a think-tank based in the United Kingdom has noted that oil theft in Nigeria is ‘on an industrial scale.’”
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Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally
President Bola Tinubu yesterday celebrated the Nigerian Exchange Group’s breakthrough into the N100tn market capitalisation threshold, saying Nigeria has moved from an ignored frontier market to a compelling investment destination.
Tinubu, in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to increase their investments in the domestic economy, expressing confidence that 2026 would deliver stronger returns as ongoing reforms take firmer root.
He noted that the NGX closed 2025 with a 51.19 per cent return, outperforming global indices such as the S&P 500 and FTSE 100, as well as several BRICS+ emerging markets, after recording 37.65 per cent in 2024.
“With the Nigerian Exchange crossing the historic N100tn market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said.
He attributed the stellar performance to Nigerian companies proving they can deliver strong investment returns across all sectors, from blue-chip industrials localising supply chains to banks demonstrating technological innovation.
The President added, “Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group. Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered.”
Tinubu disclosed that more indigenous energy firms, technology companies, telecoms operators and infrastructure firms are preparing to list on the exchange, a move he said would deepen market capitalisation and broaden economic participation.
He also cited what he described as a sustained decline in inflation over eight months—from 34.8 per cent in December 2024 to 14.45 per cent in November 2025—projecting that the rate would fall below 10 per cent before the end of 2026.
“Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians,” he said.
The President attributed the trend to monetary tightening, elimination of Ways and Means financing, and agricultural investments, which he said helped stabilise the naira and ease post-reform pressures.
Nigeria’s current account surplus reached $16bn in 2024, with the Central Bank projecting $18.81bn in 2026, reflecting a trade pattern shift toward exporting more and importing less locally-producible goods.
Non-oil exports jumped 48 per cent to N9.2tn by the third quarter of 2025, with African exports nearly doubling to N4.9tn. Manufacturing exports grew 67 per cent year-on-year in the second quarter.
Foreign reserves have crossed $45bn and are expected to breach $50 billion in the first quarter, giving the CBN ammunition to maintain currency stability and end the volatility that previously fuelled speculation, according to the President.
Tinubu also highlighted infrastructure expansion in rail networks, arterial roads, port revitalisation, and the Lagos-Calabar and Sokoto-Badagry superhighways, alongside improvements in healthcare facilities that are reducing medical tourism costs, and increased university research grants funded through the Nigeria Education Loan Fund.
“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund, and universities are receiving increased research grants,” he said.
He described nation-building as a process requiring hard work, sacrifices, and citizen focus, pledging to continue working to build an egalitarian, transparent, and high-growth economy catalysed by historic tax and fiscal reforms that came into full implementation from January 1.
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RSG Kicks Off Armed Forces Remembrance Day ‘Morrow …Restates Commitment Towards Veterans’ Welfare
The Rivers State Government has reiterated its commitment towards the welfare of veterans, serving officers and widows of fallen officers in the State.
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?The Secretary to the Rivers State Government, Dr. Benibo Anabraba, in a statement by ?Head, Information and Public Relations Unit, SSG’s ?Office, ?Juliana Masi, stated this during the Central Planning meeting of the 2026 Armed Forces Remembrance Day in Port Harcourt, yesterday.
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?Anabraba thanked the Committee for their contributions to the success of the Emblem Appeal Fund Ceremony recently held in the State and called on them to double their efforts so that the State can record resounding success in the remaining activities.
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?According to him, the remembrance day events will begin with Jumaàt Prayers on Friday, 9th January at the Rivers State Central Mosque, Port Harcourt Township, while a Humanitarian Outreach/Family and Community Day will be hosted on Saturday, 10th January, by the wife of the governor, Lady Valerie Siminalayi Fubara, for widows and veterans.
?”On Sunday, 11th January, an Interdenominational Church Thanksgiving Service will hold at St. Cyprian Anglican Church, Port Harcourt Township while the Grand-finale Wreath- Laying Ceremony will hold on Thursday, 15th January at the Isaac Boro Park Cenotaph, Port Harcourt”, he said.
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?The SSG noted that one of the highlights of the events is the laying of wreaths by Governor Siminalayi Fubara and Heads of the Security Agencies.
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Fubara Redeploys Green As Commissioner For Justice
The Governor of Rivers State, Sir Siminalayi Fubara, has approved a minor cabinet reshuffle in the State Executive Council.
Under the new disposition, Barrister Christopher Green, who until now served as Commissioner for Sports, has been redeployed to the Ministry of Justice as the Honourable Attorney General and Commissioner for Justice.
This is contained in an official statement signed by Dr. Honour Sirawoo, Permanent Secretary, Ministry of Information and Communications.
According to the statement, Barrister Green will also continue to coordinate the activities of the Ministry of Sports pending the appointment of a substantive Commissioner to oversee the ministry.
The redeployment, which takes immediate effect, was approved at the last State Executive Council meeting for the year 2025, underscoring the Governor’s commitment to strengthening governance, ensuring continuity in service delivery, and optimising the performance of key ministries within the state.
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