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Nigeria Lost N16.25trn To Crude Oil Theft In 11 Years, Says Abbas

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Speaker of the House of Representatives, Tajudeen Abbas, said yesterday, that the country lost about $46 billion (N16.25 trillion) to crude oil theft between 2009 and 2020.
The speaker, who spoke while inaugurating the ad hoc committee to investigate crude oil theft and loss of revenue, said the menace of crude oil theft has drastically hampered the growth of the country’s oil production with between 5 and 30 percent of crude oil production lost every day.
He, however, expressed shock that critical agencies in the oil and gas sector such as the Nigeria National Petroleum Company Limited, Nigeria Upstream Petroleum Regulatory Commission, Ministry of Petroleum Resources among others failed to honour the invitation to the investigative hearing.
Represented by the chairman of the House Committee on Petroleum Upstream, Al Hassan Ado Doguwa, the speaker said if decisive action was not taken to address the issue, the country may be thrown into a deeper fiscal crisis due to dwindling revenue from the oil and gas sector.
Quoting data from the Nigeria Extractive Industries Transparency Initiative (NEITI), the speaker said Nigeria’s oil production declined from 2.51 million barrels per day in 2005 to 1.77 million barrels per day in 2020.
He said: “NEITI reports also show that 619 million barrels of crude valued at $46 billion were stolen in the period 2009-2020”, adding that “Nigeria has continually failed to meet its daily production quota as set by the Organisation of the Petroleum Exporting Countries (OPEC).”
Abass said further that “recently, Nigeria’s OPEC quota was reduced from 1.742 million barrels per day to 1.38 million barrels per day. Yet, the country is still struggling to meet this quota as daily production output was 1.184 million barrels per day and 1.249 million barrels per day in May and June 2023 respectively.
“On average, current daily production output is a far cry from the budget assumption of 1.69 million per day. The implication is clearly manifest in the economic crisis that the country is facing.”
While saying that the nation faces a major fiscal crisis, the Speaker said that global recovery from the COVID-19 pandemic and the ongoing war between Russia and Ukraine has continued to cast a cloud of uncertainty on the oil and gas industry in the country.
He noted: “While the average international price for Brent crude oil has hovered slightly above the set benchmark price since January, Nigeria’s daily oil production has performed poorly due to a number of reasons.
“It is common knowledge that investment in the oil and gas sector has declined in the past few years owing to global financing constraints and the overall response to energy transition considerations.
“However, we must agree that the greatest challenge to optimising crude oil production in Nigeria is the grand scale oil theft that has plagued the sector for the past 2 decades.
Abbas stated that the House is aware of several efforts by past – administrations to address the menace of crude oil theft with a number of task forces, special committees, and investigative panels set up in the past, each with a wide range of findings and recommendations.
He said: “NEITI provides yearly updates on the amount of crude oil stolen or lost through sabotage. Yet, the menace of oil theft has continued unabated despite the enormous resources already committed to addressing it.”
The chairman of the committee, Hon. Alhassa Usman Rumrum the volume of losses occasioned by oil theft in the country and its associated impact on the economy is completely unacceptable and cannot be tolerated by any government that sincerely loves its citizens.
Rumrum: “The way and manner this act of sabotage and breach on our national security and sovereignty is carried out daily makes a caricature of our pride as a nation and even a mockery of the acclaimed status of our armed forces.
“It is an affront to government and its institutions, which must be tackled without further delay.
“It is in the light of these that the House constituted this committee and is determined to bring this ugly trend to an end otherwise there may be no future for our remaining children who have not yet” jumped” to other countries in search of survival.
“To members of the armed forces/security agencies, all Nigerians in the various states, host communities, and even in the diaspora who are involved in this practice, I challenge you all to have a rethink. We have no other country to call our own, let us therefore not push this madness to a point of no return where we may find nowhere to run to.”
While commending the President for the courageous steps so far taken to rebuild the country, Rumrum said: “These efforts will be in vain unless we make a resolute statement and send a powerful message through both words and actions, declaring that oil theft and all form of hydrocarbon unaccountability will not be tolerated under this administration. Only then can our people confidently and joyfully embrace a renewed sense of hope and purpose.”

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I Won’t Allow Spoils Of Office To Change Me – Fubara …As Rivers People Mark Gov’s 50th Birthday With Prayers

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Rivers State Governor, Sir Siminalayi Fubara, has declared that he will not be drunk with power or allow the associated advantages and benefits that come with holding a lofty position in government to change him.

 

Rather, the governor assured that he will remain committed to his vows made to Rivers people when he got their mandate, to completely put things in place that will transform the State to become what they dreamt it to become.

 

Governor Fubara made the remark when some leaders, elders and critical stakeholders of the State paid him a birthday visit to celebrate him as he attains 50 years at Government House in Port Harcourt on Tuesday morning.

 

The governor, according to a statement by his Chief Press Secretary, Nelson Chukwudi, explained that he had never subscribed to celebrating  birthdays but seeing leaders of the State gather to celebrate him pulled out tears of joy from his eyes.

 

Governor Fubara said: “I want to say that I will still be the Fubara that you know; power will not change me. I will still make sure that what I hold dear in life remains, which is God and my respect for people. I will continue to maintain it.

 

“Power will come, power will go, but I will still remain the Fubara that you know. With your support, that Rivers State that we all yearn for, we will definitely, even if we don’t get it completely, we will put those things in place that will channel and drive us to that Rivers State with your support.”

 

Governor Fubara emphasised: “That is the only thing that I know I can assure you. I will not do anything, act in any manner that will bring disgrace to myself or to everyone of you that have decided and ready to sacrifice everything for us.

 

“This morning is a birthday morning. It is not a morning to discuss politics. It is a morning to say I am happy, I am 50 years, according to you. But the most important thing is: I am celebrating my Golden Jubilee. It means that I have joined the league of the old men from today.”

 

Fubara, on behalf of his wife, Lady Valerie and family, expressed gratitude to God for divine grace, and thanked all the leaders who made sacrifices to be in attendance so early to wish him well.

 

In his remark, former Governor of Rivers State, Sir Celestine Omehia, thanked God for installing Governor Fubara, who has become a deliverer of the State and its people from the hands of those bent on destroying Rivers State.

 

He said, it is, therefore, worthwhile to celebrate such a patient and meticulous leader, loved by all Nigerians on his 50th birthday because he has continued to prioritise the interest of the State and protect it.

 

The former Governor recounted the strength of faith in God that Governor Fubara has demonstrated, enjoyed divine direction in governance, and pledged the continued support of  Rivers people to ensure the success of his administration.

 

In his speech, former National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, said regardless of who a kingmaker is, as soon as the king is crowned, such person must give way to the king to perform his duties but regretted that

the immediate past Governor, who styled himself as kingmaker had continued to do things to distract the king.

 

But Prince Secondus, noted that amidst the brewing crisis, Rivers people, and indeed, Nigerians have come to admire and love the character of steel, fear and total trust in God that Governor Fubara has demonstrated, including forging unity, and inclusivity, which are evidence of his mandate as divine.

 

Highlights of the event were prayers by the clergy for the Governor, his administration and the State; a toast; the cutting of the 50th Birthday cake by the Governor, who was supported by his wife; presentation of gifts to the Governor; rendition of special birthday songs; and a special birthday party organised by the elders and stakeholders to celebrate the Liberator of Rivers people at 50.

 

Later in the morning, members of the State Executive Council; Local Government Council chairmen; Permanent Secretaries; Government House staff; Service Commanders; and many others visited the Governor to wish him a glorious birthday, and presented gifts to celebrate his Golden Jubilee birthday.

 

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Tinubu Seeks Multifaceted Response To Terrorism, Other Security Threats

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President Bola Tinubu, on Wednesday called for a multifaceted response to terrorism, insurgency and other forms of security threats in the Lake Chad Basin region.

Tinubu, represented by the Vice-President Kashim Shettima, made the call when he declare open the 5th meeting of the Lake Chad Basin Governors’ Forum in Maiduguri, the Borno capital.

The Tide source reports that the meeting, which was hosted by the Yobe State Government brings together eight Governors from Nigeria, Cameroon, Chad, and the Republic of the Niger.

The event also brings humanitarian organisations, and local and international communities to address pressing security challenges and explore solutions for stability in the region.

The president said the chain of events that disrupted the stability of the region over the past 15 years demands that power must be wielded responsibly to guarantee the safety and prosperity of the people.

The Nigerian leader noted that while military power was necessary to contain the security threats, it must be accompanied by strategies that address their root causes.

This, according to him, in include poverty, inequality, and lack of job opportunities for the region’s young population.

“Your Excellencies, distinguished ladies and gentlemen, our response to these threats must be multifaceted.

“While military solutions are indispensable, they must be complemented by strategies that address the root causes of insecurity – poverty, inequality, and the lack of opportunities for our youth.

“It is a tragic irony that Africa, a continent with the youngest population in the world, sees its youth become cannon fodder for destructive ideologies and the drivers of conflict.

“This is the challenge before us: to transform this demographic dividend into a force for good. Power’s true essence lies not in its possession but in its application.

“Hard power may secure borders, but it is soft power—through diplomacy, culture, and shared values—that builds bridges and binds us together,” he said.

Tinubu said every part of the world was entangled in its own unique security challenges, resulting in the global military gulping “a historic 2.4 trillion dollars in 2023, with no signs of slowing.”

He, however, observed that: “hard power, detached from the moral imperatives of justice and diplomacy, only widens the very divide it seeks to bridge.”

Tinubu told the Lake Chad Basin Governors’ Forum that it was only by sticking to the vision for which the forum was created that pursuing and adopting partnerships that benefit the people could be achieved.

Such partnerships, he said, include the collective commitment to the African Continental Free Trade Area (AfCFTA) and advancing the United Nations’ Sustainable Development Goals.

He noted that the choices made “today will echo through generations, shaping the future of this region.”

He recalled the successes recorded so far in repelling threats to the region’s borders and sovereignty by elements of terror.

The President attributed past victories by member countries to the joint missions they had embarked on.

Tinubu cautioned the governors and other stakeholders against allowing “the geopolitical tensions across the world to sow discord” in the region, and submitting themselves “to become tools in any proxy agenda.

“The salvation of the Lake Chad region is neither in Europe nor in the Americas. It lies in the hands of all those gathered here today.

“You, distinguished representatives of this forum, embody not only our collective will to protect the region but also the transformative potential that stability brings.

“The true enemy remains the non-state actors—those who exploit weak borders, poor governance, and fragile economies to challenge our claim to civilization.

” However, the worst threat we may face is not the insurgents or terrorists at odds with our humanity.

” It is the absence of cooperation, sincerity, and fidelity to our shared pact as brothers’ keepers.

“We undermine this pact when we renege on agreements to secure our borders when misinformation and falsehoods breed mistrust, and when we jeopardize the freedom and choices of our people.”

Earlier, Gov. Mai Mala Buni of Yobe, had said that the forum was an opportunity for states around the Lake Chad Basin region across Nigeria, Niger, Chad, and Cameroon Republics to discuss and reflect on the journey so far.

He noted that as partners in progress, the Yobe Government provided the platform for participants to strengthen contact and collaboration towards ensuring stabilisation, recovery, and resilience across the Lake Chad Basin in the months and years ahead.

Also, Gov. Babagana Zulum of Borno, commended the strategic partners of the forum, saying their contributions have enabled governments of the forum to tackle some of their challenges to strengthen and rebuild the region.

He said the platform was a rallying point for political cohesion, fostering regional interaction, sustaining the socio-economic development of the region, and regional integration.

On his part, Gov. Umaru Fintri of Adamawa, noted that the Basin had passed through the worst environmental moment, leading to the shrinking of the Lake Chad

“The United Nations Environmental Programme has recently revealed that Lake Chad has shrunk 90 per cent in six years and blamed the situation on climate change, irrigation and construction of dams and population increase.”

The Executive Secretary of Lake Chad Basin Commission, Amb. Mamman Nuhu, said the forum’s meeting “serves as a critical platform for fostering dialogue and enhanced collaboration.”

He also said that the meeting reaffirmed the collective commitment to addressing the multifaceted challenges facing the lake chad basin.

He noted that the theme of the meeting reflects the immense progress achieved so far and the equally immense work that needs to be done.

Ms Cynthia Rowe, Development Director for the British High Commission, Nigeria, and Representative of International Support Group, commended the governors of the region.

Rowe stressed that the region had recorded marked improvement in the face of daunting challenges.

She, however, pledged the support of the funding partners to continue in their efforts towards assisting the forum achieve its objectives.

 

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FG Suspends Max Air Operations For Three Months Over Kano Incident 

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The Federal Government, through the Nigeria Civil Aviation Authority, has suspended Max Air’s domestic flight operations following a tyre burst incident involving one of its aircraft in Kano on Tuesday night.

The affected Boeing 737-400 aircraft, with registration number 5N-MBD, suffered a tyre burst while landing at Mallam Aminu Kano International Airport at about 10:51 p.m. on 28 January 2025.

Although all 53 passengers on board were evacuated safely, the aircraft was temporarily grounded before the Federal Airports Authority of Nigeria reopened the runway around 8:00 a.m. on Wednesday.

The Nigerian Safety Investigation Bureau has since launched an investigation into the incident — the third involving Max Air in three months.

Confirming the suspension, NCAA’s Director of Public Affairs and Consumer Protection, Michael Achimugu, in a statement released yesterday, stated that the regulatory body would support NSIB’s probe while also conducting its own assessment of the airline.

“It must be stated that the specific cause(s) of this incident can only be established after the NSIB has conducted its investigation,” Achimugu said.

He noted that the NCAA had already been carrying out an organisational risk assessment for all scheduled airlines, including Max Air, before the latest incident.

However, as a result of this incident, Max Air is suspending its domestic flight operations for three months, effective from midnight on 31 January 2025, to allow for an internal review of its operations,” he stated.

During the suspension period, the NCAA will conduct a comprehensive safety and economic audit of the airline.

“The safety audit will involve a re-inspection of Max Air’s organisation, procedures, personnel, and aircraft, as specified by the Nigeria Civil Aviation Regulations,” Achimugu explained.

He added that the economic audit would assess the airline’s financial health to ensure it can sustain safe flight operations.

“The resumption of Max Air’s domestic flights will depend on the satisfactory completion of this audit,” he added.

While acknowledging the potential disruption to passengers, the NCAA reassured the public that safety remained its top priority.

“The NCAA is aware of the inconvenience this action may cause Max Air’s intending passengers. However, the safety and well-being of passengers is paramount. We appeal for patience and understanding while we ensure the protection of passenger rights,” the statement added.

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