The Nigerian Navy has raised an alarm over the activities of unpatriotic elements who are bent on plundering the country’s oil resources.
According to Rear Admiral Eugenio Olusegun Ferriera, these elements have resorted to making false allegations against genuine international transactions, resulting in the disruption of oil operations and loss of revenue to the federal government.
The Navy disclosed that these disruptions led to the loss of over 1.2 million barrels of crude oil, with attendant loss of revenues between May 4 and 16, 2024. The Navy also stated that it has confiscated over 8.1 million barrels of stolen crude oil, 86,500 MT of illegally refined AGO, 788,312 litres of illegally sourced PMS, and about 21 million litres of Kerosene in the past four years.
Additionally, the Navy has arrested 120 barges, 181 speed boats, 1,453 wooden boats laden with stolen products, as well as 118 vehicles conveying stolen petroleum products. The Navy has also deactivated over 1,528 illegal refining sites and 8,790 storage tanks and arrested 392 suspected oil thieves.
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The Nigerian Navy’s efforts have led to a significant increase in Nigeria’s daily crude oil production output from 1.23 million barrels in October 2022 to 1.8 million barrels in October 2024, as revealed by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).