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The Federal Government has revealed that it has spent $1.5 billion since 2020 to safeguard the country’s oil installations and combat crude oil theft.
This disclosure was made by the Secretary to the Government of the Federation (SGF), George Akume, who was represented by the Permanent Secretary, Public Service, Maurice Nandi, at a House of Representatives open hearing on crude oil theft, on Thursday.
Akume cited an alarming report from the Nigerian Extractive Industries Transparency Initiative (NEITI), which estimated that more than $46 billion worth of crude oil was stolen between 2009 and 2020.
In response, he said, the House of Representatives formed a special committee chaired by Ado Doguwa to investigate losses in the oil and gas sector.
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“The Federal Government is concerned by a report by the Nigeria Extractive Industries Transparency Initiative (NEITI), which shows that over $46 billion worth of crude oil was stolen between 2009 and 2020.
“The House of Representatives has formed a special committee led by the Chairman of the House Upstream Oil Committee, Ado Doguwa, to investigate losses in the oil and gas sector,” Akume said.
The government’s significant spending underscores its commitment to tackling the problem of crude oil theft and protecting the country’s vital oil installations.
SGF, Akume, reveals Nigerian govt spends $1.5bn to combat crude oil theft, protect installations first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.
