Home General Over 250,000 Barrels Of Oil Siphoned Daily, PMB Raises Alarm

Over 250,000 Barrels Of Oil Siphoned Daily, PMB Raises Alarm


President Muhammadu Buhari has raised the alarm that oil theft continues at the moment with an average of more than 250,000 barrels being siphoned daily.

Speaking yesterday on the Nigeria Television Authority (NTA) programme tagged “Good Morning Nigeria”, Buhari promised  that he would soon ensure that those committing that crime against Nigeria are faced with facts and prosecuted.

He said crude was  being illegally loaded from the country’s terminals by unpatriotic Nigerians that only considered  their own selfish interests to get money.

Besides, Buhari said his government had to maintain a high level of confidentiality in order not to risk the lives of people in Nigeria who were helping to trace the destinations of the stolen crude and the accounts the proceeds were being paid into.

The president said:  “I don’t think the NNPC knows how many accounts are there in which payments are made on Nigerian crude. The monumental fraud has been going on for a number of years.  A lot of Nigerians cannot comprehend it”.

Buhari said foreign countries were  willing to let go of the looted oil funds but Nigeria had to comply with their own system by getting the documents, especially the shipping papers.

Speaking on the report that he planned to unbundle the NNPC, Buhari said: “I read the story too that I intend to break the NNPC. I think the best way to go about it to first establish the fact of the magnitude of the inexplicable way the NNPC conducted itself.”

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