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Nigerian security forces have successfully confiscated stolen crude oil valued at a staggering N1.2 billion over the past two weeks. This significant achievement is part of the ongoing drive to curb oil theft, a menace that has plagued the nation’s economy for years. In addition to their dedication to curbing oil theft, the military is doubling down on its mission to prevent terrorists from carrying out small-scale attacks on vulnerable targets.
The Director of Defence Media Operations, Maj. Gen. Edward Buba, highlighted that the relentless counter-terrorism and counter-insurgency operations have significantly hindered the strategic goals of these nefarious groups. By disrupting their capacity to execute minor attacks aimed at sowing panic in local communities, the military is making commendable progress in safeguarding the nation.
Over the past week, the vigilant troops identified and dismantled 63 illegal crude oil refining sites, confiscating an array of equipment used in these illicit activities, including boats, storage tanks, cooking ovens, and engines. Notably, they arrested 14 suspected oil thieves.
The total haul from these operations includes the recovery of 962,500 liters of stolen crude oil, along with 35,420 liters of illegally refined Automotive Gas Oil (AGO), 38,450 liters of Dual-Purpose Kerosene (DPK), and 45,000 liters of Premium Motor Spirit (PMS). These confiscated petroleum products are estimated to be worth a staggering N1,212,046,140, underscoring the significant impact of the military’s actions on the illicit oil trade. Additionally, troops managed to recover 119 assorted weapons and 1,537 assorted rounds of ammunition during this period, further reducing the capabilities of criminal elements operating in the region.
Read Also:
https://trendsnafrica.com/crude-oil-theft-and-sabotage-continues-to-burn-nigerias-revenue/
https://trendsnafrica.com/chevron-nigeria-reiterates-its-support-to-prevent-oil-theft/
Of late oil production in Nigeria declined steeply because of crude being siphoned off along the pipelines. 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. Government data shows the country’s crude output in August averaged 972,394 bpd, a multi-decade low.
