Group Asks Buhari to Urgently Deal With Oil Thieves as Nigeria Loses $2.75bn to Vandals

Partner for Petroleum and Energy Sector Prosperity Initiative has urged President Muhammadu Buhari to declare a Security Red alert over Nembe Creek Truck Line Pipelines NCTL in particularly so as to stop the persistent and deliberate Sabotage of these critical assets.

revealing that the activities of the vandals in AITEO E&P Nembe Creek Truck Line Pipelines (NCTL) was disrupting the nations revenue inflow, the group passionately appealed to President Buhari to urgently adopt drastic measures in stopping criminals from vandalizing and stealing the Nation’s oil asset

In a statement, the group’s chairman revealed that quick actions to stopping the oil thiefs was necessary as their activities has caused the country to lose about $2.75 billion in 2019 alone.

“The P-PESPI has Observed with Concern and condemns in strong term the persistent and deliberate sabotage of the AITEO E&P Nembe Creek Truck Line Pipelines and other Critical National Petroleum Pipelines Assets by Criminals.

“These illegal activities around these critical National Petroleum Assets has caused a lot of disruptions in Revenue inflow to Government, affected the Environment of the host Communities and Aiteo/Oil Companies Commercial Interests.

 “P-PESPI therefore passionately appeal to President Muhammadu Buhari to declare a Security Red alert over NCTL in particularly so as to stop the persistent and deliberate Sabotage of these critical assets.

“Mr.President, the constant attack and disruptions of the NCTL is worrisome and seriously affecting the Environment of the host Communities along the Trunk of the Niger Delta, a Region your Govt is devoting so much attention and spending huge Resources to Clean up,” he said.

The group noted that the disruptions on NCTL has seriously affected Crude Production, transportation from Eroton, NewCross, Belema Oil and SHELL Fields.

 He pointed out that the industry information from NEITI, NNPC, NEC adhoc Committee on Prevention/Control of Crude Theft and other sources revealed that, “Nigeria in 2019 recorded a loss of 22.64million barrels of crude oil valued at $1.35billion for the half-year and $2.7billion for the full year at a global oil price of USD60 per barrel.”

Giving a breakdown of the losses incurred by the activities of the vandals, The group revealed that  Nembe Creek Trunk Line (NCTL) recorded a loss of 9.2 million barrels,  Trans Niger Pipeline (TNP) – 8.6 million barrels, Trans Forcados Pipeline (TFP) – 3.96 million barrels, while Trans Escravos Pipeline (TEP) recorded losses of  877 thousand barrels.

“Mr. President, this is a huge drain on our country’s revenue projection and has serious implications for our National Security for such Resources to be in the hands of non-State Actors.

 “This may be the illegal economy fueling insecurity and terrorism in our dear Country because of the Global dimensions of Crude Supply, Demand and Sales,” he said. Ibianga, added that P-PESPI was partnering with other Civil Society Organisations to organise a one million-man march to protest the criminal activities of the vandals. He called on President Buhari to set up a new security joint task force to quell the situation in the region.