NNPC Boss, Mele Kyari, Says Churches, Mosques Involved In Crude Oil Theft

August 31, 2022
IPMAN Asks FG To Partner With Illegal Refinery Operators In Creeks

Religious leaders in Nigeria have been accused by the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, of aiding oil pipeline vandalism.

Kyari said there’s a network of vandals operating against oil companies, as well as the Nigerian government, and the stolen fuels are stored in churches and mosques across the country.

Join our WhatsApp Channel

Aside from the religious leaders, the NNPC Limited GCEO said government officials and security agencies are also part of the network vandalising the oil pipelines, with 295 illegal crude oil connections discovered.

He made this known on Monday, during the 49th session of the weekly ministerial briefing at the State House in Abuja, where the NNPC Limited boss also revealed that the government will establish a national reserve company.

According to Kyari, the national reserve company’s responsibility will include the management of the petroleum products for distribution, as the entire network of pipelines distributing petroleum products has been shut down by vandals.

Kyari’s statement comes months after the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, disclosed in June that between the first quarter of this year, about N434 billion was lost to oil theft.

Komolafe explained that out of the 1.9 million barrels that Nigeria produces, the crude oil export terminals receive only 1.35 million barrels or 71 percent of the crude oil produced, with the rest lost to theft and pipeline vandalism.

+ posts

Featured Stories

Latest from Business

NGX

NGX Market Cap Rises By N2.36trn To N117trn

Following a 3,687.45 basis points increase in the all-share index, the market capitalisation of the Nigerian Exchange (NGX) increased by N2.36 trillion on Friday, February 13. The index had increased to 182,313.08 ASI, from the 178,625.63 ASI recorded on Thursday, February 12.Join

Opinion: Why Afreximbank’s Break with Fitch Exposes a Deeper Rift

By Dr. Macharia Kihuro In a recent public statement, the African Export-Import Bank (Afreximbank) announced it would terminate its credit rating relationship with Fitch Ratings. The rationale for this decision was particularly striking. The bank attributed the move to its “firm belief
No AK-47, Automatic Weapons – Buhari Warns States On Security Outfits
Previous Story

I Won’t Allow Politicians Intimidate You – Buhari To Nigerians

Osinbajo Jets Out To Seek Global Partnerships
Next Story

Osinbajo Jets Out To Seek Global Partnerships

Don't Miss

Oando, Royal Exchange Among Losers As Stock Market Capitalisation Loses N141.32bn

The stock market growth was halted on Friday, April 11,
Money Supply In Nigeria Rises By N600bn, Currency In Circulation Drops To N2.59trn

Money Supply In Nigeria Rises By N600bn, Currency In Circulation Drops To N2.59trn

The Central Bank of Nigeria (CBN) has disclosed that the