Nigerian government earmarks N160 billion to curb crude oil theft Talatu Usman Published: March 24,2014 Illegally refined diesel is transported to market Mr. Jonathan said a technical committee has already been set up to look into all aspects of implementation of the programme to curb menaces in the oil and gas sector. The Nigerian government will spend $1 billion (N160 billion) to implement a comprehensive programme to check oil theft and vandalism of oil and gas infrastructure, that has cost Nigeria hundreds of billions of dollars in lost revenues, President Goodluck Jonathan on Sunday at The Hague. The huge sum will be used to curb crude oil theft, the vandalism of oil and gas infrastructure; and apprehend and prosecute crude oil thieves, the president said. Speaking at separate meetings with the Prime Minister of the Netherlands, Mark Rutte and the Chief Executive Officer of Shell International, Ben van Beurden, Mr. Jonathan said a technical committee has already been set up to look into all aspects of the implementation of the programme. The president said this will include further action to enhance the security of pipelines and other oil industry infrastructure, resolve community-related issues, boost youth empowerment in oil-producing areas and enhance the commitment of oil companies to the discharge of their corporate social responsibilities. President Jonathan said that new effort against oil theft planned by his administration will require the maximum co-operation of the international community, especially countries like the Netherlands which are major stakeholders in the global oil industry. “Oil theft is an aspect of global terrorism, which has become a big industry on its own. It has become a major threat to the Nigerian economy and we need to work with all stakeholders to curb it. The thieves must be traced, apprehended and prosecuted,” the president who is in the Netherlands for the 2014 global Nuclear Security Summit, said. The Dutch prime minister assured the president of the commitment of the Netherlands to action against crude oil theft and global terrorism. Mr. Rutte said that President Jonathan’s visit affirmed the strong ties between Nigeria and the Netherlands and assured the president of the willingness of Netherlands to collaborate with Nigeria on environmental and security issues, particularly in the Niger Delta. He praised Nigeria for its leadership role in promoting regional security in West Africa, and welcomed the signing of an agreement on immigration between both countries as well as the strong trade relations between Nigeria and The Netherlands. “The President’s visit is an open testimony of the strong ties between Nigeria and Netherlands. Nigeria is Netherlands’ main trading partner in Africa and the Netherlands is the second biggest European investor in Nigeria,” the Dutch Prime Minister said.
Posted on: Mon, 24 Mar 2014 19:46:24 +0000
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