Business mogul and philanthropist, Tony Elumelu, has urged the Federal Government and security agencies to publicly identify culprits responsible for the rampant oil theft plaguing the nation
His call comes on the heels of the recent deactivation of over 20 illegal refineries, 250,000 gallons of seized crude oil.
In a Friday interview with the Financial Times, Elumelu emphasized the need for transparency in the ongoing fight against oil theft, particularly the illicit activities occurring within Nigeria’s territorial waters
The tycoon elaborated on the challenges posed by oil theft, highlighting its detrimental effects on Nigeria’s economic landscape and the subsequent withdrawal of foreign oil corporations.
In 2022, Elumelu took to his social handle to voice his frustration. He tweeted: “How can we be losing over 95 per cent of oil production to thieves? Look at the Bonny Terminal which should be receiving over 200,000 barrels of crude oil daily; instead, it receives less than 3,000 barrels, leading the operator Shell to declare force majeure. The reason Nigeria is unable to meet its OPEC production quota is not because of low investment but because of theft, pure and simple!”
“This is oil theft, we’re not talking about stealing a bottle of Coke you can put in your pocket. The government should know, they should tell us. Look at America — Donald Trump was shot at and quickly they knew the background of who shot him. Our security agencies should tell us who is stealing our oil. You bring vessels to our territorial waters and we don’t know?” he questioned.
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Despite losing approximately 18% of his company’s daily 42,000-barrel production to ongoing theft, Elumelu maintains an optimistic outlook.
However, he is sharply critical of the government’s response to the crisis. Recalling a previous attempt to acquire an oilfield, Elumelu claimed the Buhari administration’s interference thwarted a $2.5 billion deal.
He alleged that former President Buhari and his Chief of Staff, Abba Kyari, blocked the sale, deeming an oilfield too strategic for private ownership. Elumelu dismissed this reasoning, given the foreign seller of the asset.
“We wanted to become a Fortune 500 company and we estimated what we needed. It’s not naira, it’s huge dollars. Energy security is crucial for a country that doesn’t produce enough electricity for its roughly 200 million citizens,” he noted.
Meanwhile, the Nigerian military has announced the destruction of 13 illegal refineries in the volatile Niger Delta region.
Lieutenant Colonel Danjuma Jonah Danjuma, Acting Deputy Director of Public Relations for the 6th Division, confirmed over the weekend that the operation took place in a border area between Abia and Rivers states.
On Saturday, Chris Terfa, the executive director of Concerned Youth Development Initiative (CYDI) and a humanitarian worker, was allegedly shot and murdered by as-yet-unidentified gunmen near the Logo 1 axis in Makurdi, Benue State.
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The attackers were reported to have tracked down the deceased on Friday night and shot him dead at his workplace in Makurdi’s Logo 1 neighborhood.
It has also been stated that Terfa’s assassins fired shots at the on-duty security guard as they attempted to enter the office building.
The assassins reportedly covered the deceased’s mouth with a pillow before shooting him.
