Nigeria is losing 470,000 barrels of crude oil per day to theft and pipeline vandalism, regulators say, and has now lost its status as Africa's largest crude producer to Angola.
For many years, Nigeria’s oil sector has been crippled by theft and pipeline vandalism, defying government and security measures. Experts now fear the theft is having an unprecedented economic impact on the country’s finances and economy, which is Africa’s largest.Other factors including chronic underinvestment in the oil sector and spills from damaged pipelines have also affected Nigeria’s oil production capacity.
But more than anything else affecting Nigeria’s oil output, “what is much more difficult to manage is the issue of vandals which cut across every community,” Mele Kyari, head of the Nigerian National Petroleum Company Limited told reporters this month. “Wherever our product has gotten to, wherever our facilities pass, everybody has now become some form of vandal.
“There is a lot of connivance with retired oil workers, oil workers from the Niger Delta; there is a lot of compromise by some of the people that work in the international oil companies,” said Ayo-Vaughan, the Navy spokesman. The government’s recent launch of a mobile application to monitor oil theft is the latest action taken to address the challenge but analysts argue the government is not being sincere. Thieves and vandals have also found a way to bypass measures introduced, even adding insertions to oil pipelines so that they can divert supplies.Crude oil has been critical in Nigeria’s infrastructural growth, accounting for 41% of the total federal government revenue in 2021, translating to 4.
“If we do not address the issue of oil and gas theft, it would discourage further investment,” Wusu said.
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