N550.8m Illegal Crude Consignment Escorted By Navy Intercepted in N’Delta

Emmanuel Addeh in Abuja

A local private security group, Tantita, which has been collaborating with the Nigerian National Petroleum Company Limited (NNPC) to tackle massive crude oil theft in the Niger Delta, yesterday said it had intercepted a vessel being escorted by the navy, carrying about 8,100 barrels of illegal crude oil.

The 8,100 at the current estimated $85 per barrel would amount to a gross amount of N550.8 million, given about N800/$ exchange rate.
Channels Television reported that the incident came on the heels of the outcry by the federal government that the illegal trade of stolen crude oil inflicted significant economic losses on Nigeria to the tune of N2.3 trillion in 12 months.

If was learnt that the vessel was intercepted in the Koko area of Delta State while the 1, 117 tons vessel carrying the crude was being escorted by some naval officers.
The matter became public knowledge after operatives blew the lid on the vessel, tagged MT Praisel, which was said to be flying a Togolese flag and was being escorted by a Navy boat led by a senior naval commander.

The Tanita operatives said they were met with resistance from the navy boat escorting the vessel and that the naval commander threatened to deal decisively with the crew.

However, it was gathered that the local security group eventually contacted the National Security Adviser (NSA) Nuhu Ribadu and the Chief of Naval Staff (CNS), Rear Adm. Emmanuel Ogalla, who subsequently gave them the go-ahead to inspect the vessel.

When they gained access to the vessel, the security company said they noticed that the vessel was authorised to carry products by the navy. but did not have any approvals from Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The NMDPRA is the authority responsible for the regulation of the midstream and downstream petroleum operations in Nigeria, especially for such  voyages.

Experts argue that  Nigeria could be losing up to 25 per cent of the nation’s crude oil production. Ex-Niger Delta agitator, Asari Dokubo, recently told journalists at the State House after meeting with President Bola Tinubu that some corrupt military officers were involved in the stealing of Nigeria’s crude oil.