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60 Million Barrels Of Crude Oil Stolen From Nigeria In 3 Years

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  • 60 Million Barrels Of Crude Oil Stolen From Nigeria In 3 Years

    Human rights lawyer, Femi Falana (SAN) yesterday disclosed that about 60.2 million barrels of crude oil were stolen from the country between 2011 and 2014.

    Speaking at the 40th anniversary of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Falana noted that the stolen product passed through the Philadelphia Port in the United States of America (U.S.A.).

    On the revenue losses to crude oil theft, Falana said: “The Nigerian Maritime Administration and Safety Agency (NIMASA) commissioned a study about seven years ago concerning millions of barrels of crude oil that leave Nigeria unaccounted for. The study found that between January 2011 and December 2014, 60.2 million barrels of crude oil left Nigeria that were not recorded, but were recorded to have been discharged at the Philadelphian Port in the U.S.”

    “It revealed that the value of the stolen oil amounted to $12.7 billion. That was oil discharged in just one port. We have identified the oil majors that were involved and we have also identified the shipping company. But since 2014, we have been begging the Federal Government to recover the money and nothing has been done. The money lost in U.S, India, China and other ports where our oil is discharged exceeds $100 billion.”

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