NIGERIA FINALY DISCOVERS THAT ITS OIL THEFT IS PILOTED BY INTERNATIONAL CRIMINALS AFTER MANY YEARS OF LOOTING

The minister of petroleum Mrs. Alison-Madueke , angrily voicing the trauma Nigeria is currently facing on crude oil theft, after discovery has been made that it was international criminals, that are doing Nigeria this harm, through our Territorial waters and in conjunction with some crimminal organizations in Nigeria.

Mrs. Alison-Madueke was delivering the keynote address at the Powerlist 2014. She said: “Theft of this magnitude is not only highly technical, but it is also an international-level crime. It is aided and abetted by syndicates outside of Africa who are the patrons and merchant-partners of the oil thieves. This crime against Nigeria must be resisted, as we simultaneously deploy in-country resources to fight this menace,’’ she said.

The Minister calls strongly on international community against crude oil theft.

She said: “It perpetuates criminality, defrauds economies and discourages investment. This is a crime that threatens not only Nigeria’s oil and gas sector, but also threatens the security of the Gulf of Guinea and, by extension, threatens the global economic order.”

The minister said the grave phenomenon of oil theft and its global support system represent another face of terrorism, which has continued to remain a spoke the wheel of the nation’s high economic growth trajectory.”

“The grave phenomenon of oil theft and its global support system represents another face of terrorism counteracting our efforts at sustaining the trajectory of our high-growth economy, the stability of our society, and the enhancement and wellbeing of our people,’’ Mrs. Alison-Madueke said.

She said efforts at combating the menace locally is made more complicated because of the international slant of the crime.

Despite the scourge of crude theft, Mrs. Alison-Madueke said Nigeria’s oil and gas industry had been placed on the path of growth and irreversible progress.

“The Nigerian Content Act, signed into law in 2010 by President Jonathan, vigorously advocates for indigenous participation, job creation and in-country capacity development and has nurtured leading edge indigenous companies capable of competing with the traditional multinationals. The very topical Petroleum Industry Bill (PIB) is a historic piece of legislation designed to effect extensive and much needed legal, regulatory, financial and environmental reform to Nigeria’s oil and gas industry,’’ she said.

 

 

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