Group Managing Director, Nigerian National Petroleum Company (NNPC) Ltd, Mele Kyari, has said that President Muhammadu Buhari\u2019s administration lost $1.5billion to oil thieves between January and March, 2022.
\nBuhari is the minister of petroleum resources in Nigeria.
\nTimipre Sylva, a chieftain of his ruling All Progressives Congress (APC), deputises for him.
\nKyari disclosed the billion-dollar loss in Abuja when he appeared before the House of Representatives Committee on Petroleum Upstream, investigating the loss of Nigeria\u2019s crude oil production to theft.
\nThe NNPC boss disclosed that the country lost over $1.5billion to oil theft between January and March, 2022, calling for special courts to unmask those behind illegal crude oil refining.
\n\u201cWe must have special courts to try those behind this business. This is an elite business. It is not done by poor people,\u201d he said.
\nHe expressed worry over the loss of crude oil production to activities of vandals and oil thieves, adding that stern security measures were being considered to restore the production situation and improve revenue.
\nHe also mentioned that efforts were on top gear to ensure the situation was addressed; stressing that there would be tremendous progress within the next two months.
\nKyari said thieves and vandals had rendered some of the facilities useless as the activities of vandals and thieves had got to a level that the NNPC had to shut down some facilities.
\nAccording to him, the NNPC can no longer sustain production as expected because of the activities of the oil thieves and vandals.
\n\u201cIt came to a level where we could only receive 300 barrels per day,\u201d he said.
\nIn their remarks, the lawmakers urged Buhari to declare a state of emergency in conveying crude oil, and mandated the strict monitoring of pipelines.<\/p>\n","protected":false},"excerpt":{"rendered":"
Group Managing Director, Nigerian National Petroleum Company (NNPC) Ltd, Mele Kyari, has said that President Muhammadu Buhari\u2019s administration lost $1.5billion to oil thieves between January and March, 2022. Buhari is the minister of petroleum resources in Nigeria. Timipre Sylva, a chieftain of his ruling All Progressives Congress (APC), deputises for him. Kyari disclosed the billion-dollar […]<\/p>\n","protected":false},"author":1,"featured_media":292045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76],"tags":[688],"class_list":["post-292037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-front-pix"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/292037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=292037"}],"version-history":[{"count":1,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/292037\/revisions"}],"predecessor-version":[{"id":292038,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/292037\/revisions\/292038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/media\/292045"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=292037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=292037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=292037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}