Nigeria loses $1bn a year to oil theft and pipeline vandalism- ATOGMAN – The Sun Nigeria

From Okwe Obi, Abuja

The Association of Tank Farm Oil and Gas Marketers of Nigeria (ATOGMAN) claimed that Nigeria was losing $1 billion a year due to oil bunkering, theft and vandalism of pipelines.

ATOGMAN National Chairman Lawrence Kanu said in a statement yesterday, sympathizing with the management and staff of Matrix Energy Limited over the tank farm explosion last week in the community of Ifiekpo, in Delta State.

According to eyewitnesses, the fire started during the oil loading process at the tank farm in Ifiekporo, Ugbuwangue and parts of Edjeba communities in Warri.

Kanu, who advised the federal government to rehabilitate refineries in Kaduna, Port Harcourt and Warri to deal with the oil crisis, described the fuel subsidy as a scam.

He also pleaded with the government to issue licenses to indigenous investors to establish modular refineries to reduce fuel shortages and economic sabotage.

“Let’s try to be productive instead of depending on importing petroleum products, because the nation is losing $1 billion a month to illegal bunkering, oil theft and vandalism of pipelines.

“We advise the Federal Government to rehabilitate the refineries in Kaduna, Port Harcourt Warri.

“We also advise the government to remove oil subsidies because oil subsidies are a scam. Let’s do our best to stop it,” he said.

He, however, commended the Commanding General of Nigeria’s Security and Civil Defense Corps, Ahmed Audi Abubakar, for his efforts in tackling economic saboteurs in the country.

About Keith Tatum

Check Also

AGIP pipeline leaks large amounts of gas

September 20, 2022September 20, 2022100 Illustrative picture The Kolo-Otueke-Bayelsa Palm Road …