Browsing: Oil theft

Illegal oil tapping that Nigeria’s security agencies could not detect and put a stop to for years, took Government Epkemupolo, better known as Tompolo, less than a month to detect. All those in charge of our security should actually bury their heads in shame. Nigeria has become a laughing stock in the world. Those who are being paid to protect us and our national assets are complicit in the stealing and ruination of the country. Nigeria is an oil-producing nation but the discovery of crude oil has become a curse for Nigeria. In spite of the rise in the price of crude oil in the international market, with most oil-producing countries smiling to the banks, Nigeria is losing money on all fronts. We have been consistently losing money from crude oil sales as we could not meet up with our crude oil production quota allocated to us by OPEC, which we could have sold in the international market due to large-scale stealing. Worse, the citizens are being made to pay more due to the fact that we lack the capacity to refine a fraction of what we produce for domestic consumption due to comatose refineries. We have been told again that we should expect more than a 100 per cent increase in the prices of refined petroleum products when the subsidy on petrol is completely removed next year.