$1.9bn Lost To Oil Theft Every Month ―NNPC Boss 

Chief Executive Officer of the Nigerian National Petroleum Company NNPC Limited, Mallam Mele Kyari said about $1.9 billion is lost every month due to oil vandalism in Nigeria.

Kyari said this on Monday in Asaba, Delta state when a Federal Government delegation on anti-oil theft led by the Minister of State for Petroleum Resources, Chief Timipre Sylva paid a visit to Delta state governor, Dr Ifeanyi Okowa, at the Government House.

“As a country, we hardly meet our OPEC production quantum of 1.99 million barrels per day with our current production level of 1.4 million barrels per day which is currently being threatened by the activities of these economic saboteurs.

“This has done extensive damage to the environment and losing $1.9 billion every month is colossal, considering the nature of the global economy at the moment,” Kyari said.

The NNPC Boss stressed that the team needed the assistance of the Delta Government “because stopping this oil theft requires the concerted efforts of the Federal, State Governments, oil companies and security agencies.”

On the other hand, the Delta governor endorsed a review of surveillance contracts on oil facilities to include host communities so as to tackle the high rate of oil theft in Nigeria.

Governor Okowa said the review would guarantee effectiveness in safeguarding the nation’s oil and gas assets.

He acknowledged that the challenge of oil theft was becoming unbearable but expressed optimism with the efforts being taken by the authorities to prevent the threat.

“I am glad that we are discussing this hydra-headed issue which impacts directly on our economy and the environment.

“Its impacts on the health of the people and sustainability of the environment and I am glad that we are taking some steps because there are so many issues that led us to this.

“We went through situations where gaps were created between host communities and oil companies, and unfortunately criminality set in.

“It has gone so bad but we are doing our best as a state. I am also glad about this collaboration,” he said and stressed the pertinence of a review of surveillance contracts of the oil facilities to ensure community involvement.” He said.

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