GEJ Vows To End Theft Of Crude Oil

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GEJ Vows To End Theft Of Crude Oil

Post by Mark on Tue Jul 24, 2012 3:19 pm

President Goodluck Jonathan, yesterday described as extremely embarrassing, that it is only in Nigeria that crude oil is stolen, asking both the Nigerians and foreigners indulging in the criminal act should hide their heads in shame. He assured that he was not only determined to stop the act but bring the perpetrators to book.

The President spoke at the opening of the Maritime sector Presidential retreat with the theme, “Harnessing the Potential of Nigeria’s Maritime Sector for Sustainable Economic Development” at the Banquette Hall of the Presidential Villa.

“It is embarrassing that it is only in Nigeria that crude oil is stolen. It is a very bad news and I believe that Nigerians and foreigners who are indulged in that act need to throw their heads under the pillow because all over the world, it is only in Nigeria that crude oil is stolen.


We are not the only oil producing country why is it that its only in Nigeria that people steal crude oil? This must stop. We will be decisive in putting an end to this malaise. Our charge to all relevant agencies and departments of government is to work cooperatively with the required urgency this challenge deserves.”


In the same vein, it has been revealed that the insecurity in the Gulf of Guinea of which Nigeria is a major stakeholder has steadily risen from 45 per cent in 2010 to 64 per cent in 2012, creating a major economic problems for the country, threatening Nigeria’s over $600 million fishing business.

Also, the country loses over N2 trillion annually in capital flight to foreign countries following the inability of the indigenous ship owners to fully participate in the lifting of the over 150 million tons of cargo from the country, including crude oil exports, the Coordinating Minister and Minister of Finance, Dr. Ngozi Okonjo-Iweala has disclosed.


The President, while admitting that the maritime sector was a critical component in the economic development of a modern state, added, that it was in this regard that it was incorporated as a major component of the Transformation Agenda. “The sector, without doubt, facilitates approximately 90 per cent of world trade, creates millions of jobs and generates billions of dollars in economic output. The sector, to say the least, is a major engine in our national growth strategy.”

Jonathan said the sector has helped to enhance Nigeria’s position as a regional leader in several areas. “Besides improved prospects in traditional sea-related activities such as fishing, shipping, ship-building and repairs, agriculture and tourism, the sector is a major hub in offshore oil exploration and production activities and will remain so in the foreseeable future.


“Given its importance in the national economy, we have an uncompromising obligation to safeguard our territorial waters against all threats: poaching, piracy, pipeline vandalism, coastal insecurity, crude oil theft, illegal bunkering, non-payment of statutory levies and charges, illegal entry of ships into our territorial waters, illegal importation of arms and hard drugs, among other sundry crimes.

“Even though it is generally known that the West African coast has the richest fishery resources in Africa, our inability to take advantage of our endowment has been attributed to inadequate law enforcement and industry capacity.


“The cost of piracy to our economy is unacceptably high. Pirates frustrate fishing activities and threaten investments in the West African Coast. Higher insurance premiums and charges on ships sailing along the Gulf of Guinea impact negatively on our economy and image.


“Similarly, pipeline vandalism and crude oil theft result in serious loss of revenue to Government even as maritime environmental degradation from such disasters affect our people and well-being. “Government is determined to reverse this situation. We will protect our natural resources and ensure their sustainable use for the benefit of present and future generations”, he said. Okonjo-Iweala said the cost of inadequate maritime safety and security to Nigerian society and the economy “has been significant”.


“You will hear more as we look as the issue of oil theft and piracy. The numbers are up on piracy incidence in the Gulf of Guinea from 45 in 2010 to 64 now and this is worrisome. This threatens close to $600 million of fishing exports. We have unfortunately not been able to solve this issue and I wonder why. I hope today will mark the end of this illegal practices.”


Speaking also on the issue of increasing local participation in the sector and carbortage, the Minister noted that “the indigenous Ship Owners association of Nigeria said that we now lose over N2 trillion annually in capital flight to foreign countries which own vessels used to lift about 150 million tons of cargos including oil products from this country as there is no Nigerian flag ship is currently plying international routes. Nigerian own vessels make up less than one percent of the global fleets and are quite old with an average of 30 years of age”.


Issues looked at during the one day retreat that drew attendance from all the stakeholders in the sector according to the Minister, include “safety and security of our maritime waters, increasing local participation and carbortage; completing the reform of our ports; Maximizing our revenue potentials from the sector”.

Iweala disclosed that though the Presidential Retreat on Maritime Sector focus on harnessing the potentials of the Nigerian’s Maritime sector, its objective was to “come up with concrete initiatives that we can implement over the next six to 18 months to allow Nigerians to harness the opportunities we have in the sector”.

On the significance of the sector, she noted that it “ facilitate trade and commerce and enables the country to export its goods as well as earn foreign exchange amongst other. “The sector also generate significant revenue for government basically by Customs and Excise duties, and by leveraging our Maritime resources such as fishing. In addition, a significant number of Nigerians are employed by the sector”.

“However, there are challenges, preliminary analysis and interviews of some key stakeholders in this sector conducted by Mackenzie and Company highlighted some key Challenges which we must focus on addressing today’

Adding “Increasing Nigeria participation in this sector will not only ensure will not only ensure most of these factor is retained locally, but will lead to increased jobs for Nigerians.


http://www.sunnewsonline.com/article/jonathan-oil-thieves-we%E2%80%99ll-get-you shameful
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Re: GEJ Vows To End Theft Of Crude Oil

Post by Horseman on Tue Jul 24, 2012 3:50 pm

Nigerian is great thinking shameful . Bribery and coruption is not ganna end this generation maybe next two generations to come study

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Re: GEJ Vows To End Theft Of Crude Oil

Post by Monsterman on Thu Jul 26, 2012 3:48 pm

Abeg o! Let him stop this o.

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