Nigeria Now World Capital of Oil Theft, Says Report

Must Read

The Heroro-Nama Genocide: Germany’s Brutal Genocide in Namibia in the early 20th Century

The Herero and Namaqua Genocide is considered to have been the first genocide of the 20th century. It took place between 1904 and 1907 in German South-West Africa(modern day Namibia), during the Herero Wars.

Kenneth Kaunda, Zambia’s First President, and the Last African Independence Leader from the 1960s Dies at 97

Kenneth Kaunda, Zambia’s founding president and one of Africa’s last surviving liberation leaders, has died at a military hospital in Lusaka, where he was being treated for pneumonia. He was 97.

Artefacts Looted From Ethiopia 150 Years Ago Withdrawn From Uk Auction After Ethiopia’s Appeal

Two artefacts that were stolen during colonial-era looting by British forces in Ethiopia have been withdrawn from auction after the Ethiopian government appealed in a letter.
Advertisement



A report by the Nigeria Natural Resource Charter (NNRC) has revealed that the highest ever reported crude oil theft in the world takes place in Nigeria, with the country recording approximately 400,000 barrels per day (bpd) crude theft.

Nigeria Now World Capital of Oil Theft, Says Report

The NNRC report, which was an aftermath of a survey on oil theft in the world, also said that Mexico came second with approximately 5,000 to 10,000 bpd loss to oil theft.

Speaking in Lagos at a workshop with media professionals and members of the civil society organisations on reducing oil theft, a researcher, Niyi Awodeyin, said the report showed that Nigeria’s loses around 10 per cent of its annual budget to crude oil theft.

Awodeyin added that it was complex to determine the scale of oil theft but that on average, Nigeria loses N1 trillion annually to oil theft.

He said the scale of oil theft showed that Nigeria was losing on a daily basis more than the volume of crude oil some countries produce daily, stating that 75 per cent of stolen crude was taken out of Nigeria.

According to him, the study showed that there has been a steady rise in the past decade of crude oil theft between 2011 and 2014 estimates of lost revenue ranges from $7 billion to 12 billion annually.

Awodeyin, however, expressed skepticism on oil theft in the country, saying the trend could continue unabated because the current policies on theft were not enough to deter oil thieves.

Recall that Sometime around August – September (2019), no fewer than 57 sailors were arrested in Rivers State by the Nigerian Navy for allegedly smuggling crude oil and illegally refining diesel.

Related:   This Spiritual Leader Was Hanged and Decapitated by the British in 1898 for Opposing Colonial Rule in Zimbabwe

The sailors, including a Ukrainian, a Mexican and 55 Nigerians, were arrested onboard four vessels, two wooden boats and a barge.

©ThisdayLive

Advertisement



Uzonna Anele
Anele is a web developer and a Pan-Africanist who believes bad leadership is the only thing keeping Africa from taking its rightful place in the modern world.

Just In

The Heroro-Nama Genocide: Germany’s Brutal Genocide in Namibia in the early 20th Century

The Herero and Namaqua Genocide is considered to have been the first genocide of the 20th century. It took place between 1904 and 1907 in German South-West Africa(modern day Namibia), during the Herero Wars.

Kenneth Kaunda, Zambia’s First President, and the Last African Independence Leader from the 1960s Dies at 97

Kenneth Kaunda, Zambia’s founding president and one of Africa’s last surviving liberation leaders, has died at a military hospital in Lusaka, where he was being treated for pneumonia. He was 97.

Artefacts Looted From Ethiopia 150 Years Ago Withdrawn From Uk Auction After Ethiopia’s Appeal

Two artefacts that were stolen during colonial-era looting by British forces in Ethiopia have been withdrawn from auction after the Ethiopian government appealed in a letter.

World’s Third Largest Diamond Discovered in Botswana

The diamond firm Debswana has announced the discovery in Botswana of a 1,098-carat stone that it described as the third largest of its kind in the world.

The Earliest Obtainable Map of the Whole Continent of Africa

Mapped by Sebastian Münster, the map below is the earliest obtainable map of the whole continent of Africa. The map was published in the 1552 edition of Sebastian Münster’s Cosmographia.

More Articles Like This