Nigerian businessman, Tony Elumelu says the government and security agents in Nigeria should be able to tell Nigerians who steal the country’s crude oil, especially using vessels that move through the territorial waters.
In an interview published by the Financial Times on Friday, the 61-year-old founder of Heirs Holdings stated that the menace contributed to the divestment of international oil companies in Nigeria.
He revealed that he made the first-hand discovery of why international oil companies were partly divesting from onshore assets after criminal gangs began stealing crude from his pipelines.
In 2022, Elumelu noted via a tweet on social media: “How can we be losing over 95 per cent of oil production to thieves? Look at the Bonny Terminal which should be receiving over 200,000 barrels of crude oil daily, instead, it receives less than 3,000 barrels, leading the operator Shell to declare force majeure. The reason Nigeria is unable to meet its OPEC production quota is not because of low investment but because of theft, pure and simple!
“Meanwhile, oil-producing countries are smiling as their foreign reserve is rising. What is Nigeria’s problem? We need to hold our leaders more accountable!”
That was at the time when things got to a point where his company had to shut down production.
In the interview, Elumelu, expressed optimism, saying, however, that oil thieves still take away 18 per cent of crude from his field.
“42,000 barrels of crude pumped out daily. Theft still takes away about 18 per cent of production, he stated.
“This is oil theft, we’re not talking about stealing a bottle of Coke you can put in your pocket. The government should know, they should tell us. Look at America — Donald Trump was shot at and quickly they knew the background of who shot him. Our security agencies should tell us who is stealing our oil. You bring vessels to our territorial waters and we don’t know?”
Recalling how the previous administration of President Muhammadu Buhari allegedly stopped him from acquiring an oilfield, he claimed that Heirs Holdings had been looking to purchase the oilfield since 2017, having raised $2.5bn to purchase a different one.
But in a twist, former president Buhari and his late Chief of Staff, Abba Kyari, blocked the deal.
He said he was told Nigeria could not allow something of such strategic importance to fall into the hands of a private operator.
“This defied logic,” he added since he would have been purchasing it from a foreign company.
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