Nigeria losing 100,000 bpd to oil theft - Saraki

Former governor of Kwara State, Senator Bukola Saraki has raised the alarm that the country is losing an estimated 100,000 barrels a day, worth about 100 dollars per barrel to oil theft.

Calling for urgent attention from the Federal Government, Saraki on his twitter handle yesterday said there is an organised (international) network of oil thieves, which has to be identified and cut off.

Noting that the Economic and Financial Crimes Commission (EFCC), came after him when after he raised the fuel subsidy motion, Saraki said he would not be dettered.

Stressing that “oil theft affects everyone, leads to pollution in Niger-Delta, funds are used to promote domestic and international terrorism, and ruins the economy,” he added that the “National Assembly might have its shortcoming but you can rest assured that oil theft and fuelsubsidy will be brought before the Federal Government.
“Our NASS has continually exposed fuel subsidy and the Federal government has acknowledged saving 1.7 trillion from actions taken on it.
“Together we must demand that the Federal Government bring those responsible for the abuse of fuel subsidy scheme to face the law,” Saraki stated.