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NSA Gets Damning Report on Oil Theft/Losses From FG Panel

NSA Gets Damning Report on Oil Theft/Losses From FG Panel

NSA ( National Security Adviser): Gen. Ndiomu urged for swift execution of the report to stop the ongoing crude theft/losses, according to Mr. Zakari Usman, Head of Strategic Communication at the Office of the National Security Adviser (ONSA), who made this public.


Usman said in a statement that the panel included important players from the oil and gas industry as well as from outside it, including state governments, ministries, departments, and agencies, security services, regulatory organizations, indigenous and foreign oil companies, traditional institutions, host communities, and artisanal refiners, among others.

He claimed that in carrying out its duties, the panel received and examined a number of memos and reports on oil theft and losses.

Despite the Military Forces and other security services’ best attempts to stop the oil thieves’ activities, the panel conducting the assignment found multiple levels of involvement in the illicit theft of crude oil.

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The panel also noted that improper reporting of crude oil production, illegal refining, wellhead theft, and pipeline network diversion were all causes of crude oil losses. The panel also blamed losses on a weak industry-wide metering system, a flawed security system, and other factors. The difficulty in detecting fraud and losses was also attributed to regulatory organizations’ ambiguous mandates.

Additionally, he stated that the report’s swift adoption would not only have an immediate impact on crude oil production levels to satisfy OPEC’s quota but would also draw foreign direct investment and address Nigeria’s economic and security needs.

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Upon receiving the report, the NSA praised the panel for staying on schedule and for thoroughly addressing the problems of oil theft and losses. Especially for the proposals with short-term perspectives, he said that the administration will review the report and see to their prompt implementation.

Remember that the NSA established the panel on December 6, 2022, and was given 10 weeks to finish the task with a detailed scope of work to look into all facets of crude oil theft and losses in all of their ramifications.


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