The Nigerian National Petroleum Corporation (NNPC) has raised a red flag on the growing issue of oil theft, calling it a major threat to Nigeria’s economic stability and security.

The Corporation outlined its ongoing challenges including oil theft, emphasizing the urgent need for collective action to tackle this issue, which poses a significant threat to Nigeria’s economy.
Speaking at a stakeholders engagement and capacity building for journalists, Chief Corporate Communications Officer, (CCCO), Nigerian National Petroleum Company, (NNPC) Ltd, Femi Soneye has stressed that oil theft has become a major problem, one that requires the nation’s attention and decisive action.

“If we don’t address the issue of oil theft, Nigeria is in serious trouble,” the officer stated emphatically, drawing attention to the stark reality that oil theft not only threatens national revenue but also undermines security.
Soneye recalled an incident from November last year, where a vessel caught with stolen crude oil was seized, only for the same vessel to be found engaging in similar activities a few months later.
He used the incident to highlight the low prosecution rate less than 2% for those involved in oil theft, despite over 2,500 arrests

On the growing scrutiny, with questions being raised about its decision to engage private security firms to protect national assets he clarified that the decision was necessary due to the scale of the challenge.
“No country in the world relies on non-state actors to protect national assets, but we had no choice,” he explained, noting that at one point, Nigeria’s production levels dropped below 900,000 barrels a day, leading the NNPC to partner with community leaders and private security firms to restore production.

“This collaboration has helped to raise production to approximately 1.6-1.7 million barrels per day, thanks to the combined efforts of the private security companies and the military.” However, he emphasized that more needs to be done to combat the oil theft crisis, as the problem is deeply rooted in organized crime that involves entire communities, including religious institutions and local leaders.
Soneye shared a personal account of an oil-related fire that had raged for months due to the actions of local warlords who blow up pipelines to steal oil, causing significant environmental damage and costing the NNPC millions of dollars to address.
“This issue is not just about oil theft. It is about the very survival of our national economy,”He reiterated.
In addressing questions about the high cost of doing business in Nigeria, the NNPC pointed out that companies charge Nigeria significantly more than other countries due to security risks. “If a company charges $1 million in Saudi Arabia, they will charge $4 million in Nigeria because of the cost of securing personnel and operations,” Soneye said, emphasizing how oil theft, kidnapping, and sabotage inflate operational costs and discourage investment.

The NNPC he said is also committed to greater transparency and accountability, noting its transformation from a corporation to a private company.
He highlighted recent actions aimed at increasing openness, such as disclosing the price of pms purchased from Dangote Industries. Despite facing criticism for this transparency, the NNPC remains committed to ensuring Nigerians have access to the truth.

In conclusion, the NNPC urged the media and the public to play a role in raising awareness about the devastating impact of oil theft on Nigeria’s economy and security.
The corporation reiterated its commitment to addressing the challenge head-on and called for continued collaboration between the government, security agencies, and the private sector. “We need all hands on deck to protect Nigeria’s future,”

Former Presidential Candidate, Peter Obi, has called on the Nigerian National Petroleum Company Limited (NNPCL) to come clean on its operations amidst the lingering fuel scarcity crisis.

Obi, in a statement, lamented the lack of transparency in NNPCL’s dealings, particularly regarding subsidy payments and fuel imports.
He questioned how a company that declared a N3 trillion profit in 2023 could fail to alleviate the fuel scarcity, citing incompetence and mismanagement.

The Labour Party chieftain urged the federal government to take decisive action, ensuring NNPCL’s operations are transparent and accountable to Nigerians.
He emphasized that the current fuel scarcity has inflicted hardship on citizens, and it’s time for those responsible to be held accountable.

Obi’s call for transparency and accountability is a clarion call for good governance and effective management of the nation’s resources.

By Ahmed Rufa’i, Dutse

The Dangote Group of Companies has promised to boost the power generation at the national grid through increased energy production in the country.

This was contained in a press statement issued by the communication officer in charge of north, Dangote Group of Companies, Malam Jibril Abubakar, said the group general manager of Dangote Sugar Refinery (DSR) Numan in Adamawa state, Mr Bello Abdullahi Dan-Musa.

According to the statement, “The company operates an independent power system, and that excess energy will be redirected to the national grid.”

The statement stated further that “the power, from the Dangote Sugar Refinery, Numan, when redirected to the National Grid has the potential to contribute immensely to the rapid development of the economy of the entire Northeast”.
He added that the energy will bring about accelerated development and industrialization in the region.

“President of the Dangote Group, Aliko Dangote, had said that upon completion of the BIP projects, his sugar company will be able to create about three hundred thousand direct and indirect jobs, with positive multiplier effects on the national economy”.

The Group General manager added that “The Sugar Refinery (DSR) employs no fewer than 7,000 workers yearly in its Backward Integration Project (BIP) in Numan, Adamawa State

“The Dangote Group is Nigeria’s biggest employer of labour after the government.”

Mr. Dan-Musa said most of the employees are often engaged on a temporary basis during the cane production season.

Recently, he said the company paid over N500 million to the out-growers for the sugarcane they produced under the DSR Numan out-growers scheme.

The current capacity of the DSR Numan refinery of 4,800 Tons of Cane Per Day (TCD), he said, is being upgraded to 6,000 TCD by end of 2023, 9,800TCD by 2024 and subsequently to 15,000TCD.

According to Mr. Dan-Musa, Dangote Sugar Refinery Numan has contributed immensely in the realization of the Backward Integration program of the Federal Government.

He added that the company has acquired state of the art machines to support its production process, adding that its facilities are environmentally friendly.

The Group General Manager stated further that “its Backward Integration goal is to become a global force in sugar production, by producing 1.5M MT/PA of refined sugar from locally grown sugar cane for the domestic and export markets”.