House of Representatives Adhoc Committee on Oil Theft, yesterday, alleged that 329,420,319 barrels valued at over $20 billion were not accounted for between 2005 and 2012.

Chairman of the committee, Mr. Peter Akpatason, who spoke during hearing on the matter, accused Department of Petroleum Resources (DPR) of not doing enough to render account of the alleged missing monies.

The committee alleged that similar trend of infractions was also observed between 2016 and 2019. Akpatason, therefore, demanded explanation from DPR on the alleged stolen crude oil.

Akpatason said: “The effects of crude oil theft cannot be overemphasized, and this has lasted for too long. As patriots, it is our collective responsibility to see to the end of this stealing. The adhoc committee has identified the key role of DPR, as the agency of government in the sector, hence your re-invitation today to enable us work together and come up with a common front on ways to tackle this matter. If not completely put an end to it, we must reduce it to its barest minimum.

“DPR is the agency of government saddled with the responsibility of monitoring crude oil production and lifting. The committee requested and obtained schedules of crude oil produced and lifted between 2005 and 2019.

“Forensic analysis of the data revealed a very wide margin between what was reported produced and what was lifted. Between 2005 and 2012, DPR reported production of 1,746,621,167 barrels from four sampled oil terminals of Egeravos, Bonny, Forcados and Bonga. Out of this production volume, only 1,417,200,848 barrels were accounted for as having been lifted officially. A whopping volume of 329,420,319 barrels, valued at over $20 billion, could not be accounted for. The same trend of infractions was observed in the years 2016-2019.”

According to him, the adhoc panel, through analysis of submissions made to it, raised issues requiring clarifications from DPR. “These issues range from unprocessed crude oil to suspected stolen/diverted crude oil, discrepancies in records, use of inappropriate devices and technologies for measurement and gauging despite huge budgetary provisions”.

Welcoming the officials earlier, Akpatason said the mandate of the committee was not to witch-hunt anyone but to proffer lasting solution to “this lingering cancer bedeviling us as a nation.”

Director and Chief Executive Officer of DPR, Mr. Sarki Auwalu, explained how crude oil was stolen. According to him, most of the thefts usually come from land terminals because the producers have to use pipelines to transport the crude into the terminals for export.He briefed the legislators on how to account for hydrocarbon in the country.

https://m.guardian.ng/News/Reps-panel-alleges-theft-of-$20b-crude-oil-in-seven-years

Expect twice the figure the gave you

Nigeria is drowning

post=98733173:

May it never be well with the evil party of looters, thieves criminals that raped and looted our nation and ran it to the ground totally.
And may it never be well in life with the swines castigating the over 15 million honest, good and hardworking Nigerians for voting out the party of looters and criminals.

And the blame game continues, look at them, if you guys were elected to fix the system, why haven't you guys fixed it up till now, Joe biden became president last month, I have not heard anywhere he is blaming trump for incapability of fixing america, because that was why he was elected, so if he fails it has nothing to do with trump, so why is buhari's failure tied with jonathan's own, failure is failure and is personalized to only the current captain of the ship and not the previous captain who sailed it...

Damn niggar

stealing is their birthright

That one na distraction from Fulani headsmen?

It’s ok

Okay, Next news please.

Everybody entering government or working with any ministry have a mindset to steal and nothing more again.

The house probing them only want their own share nothing more

Toothless bulldogs in efcc we expect you to parade these criminals in front of camera , Yahoo boys are just puppy criminals these are the bulldozers of crime, the El Chapo of Nigeria

g

Nigeria is slowly moving to the era of Trillion $ no more naira theft na dollar be d new drip. Naija my country I hail o

House of Representatives Adhoc Committee on Oil Theft, yesterday, alleged that 329,420,319 barrels valued at over $20 billion were not accounted for between 2005 and 2012.

May it never be well with the evil party of looters, thieves criminals that raped and looted our nation and ran it to the ground totally.
And may it never be well in life with the swines castigating the over 15 million honest, good and hardworking Nigerians for voting out the party of looters and criminals.

SpecialAdviser:
Reps should enact a law prescribing 20 years jail term for anybody who have ever call Buhar "Mr Integrity"

Quote : Illiteracy is not a disease, it's something worse.

House of Representatives Adhoc Committee on Oil Theft, yesterday, alleged that 329,420,319 barrels valued at over $20 billion were not accounted for between 2005 and 2012.

This people keep taking us back.

To be sincere, this is nobe of our business, it will be a waste of time to try to recover this money.

the system of governance was set up as a cash cow for the elites

Wow

Na now dem know ni?
The thing is, when the the meal doesn't go round or one feel cheated that's when this kind of shady deals are opened. Nigeria is a big country but with 'little mind' leaders. They recuperate the toils of holding public offices from looting the public space, public servants too.
The question is, can we conclude that most Nigerians are...?

Maybe because of this syndrome, "You no fit dey chop make i no chop"? Even if you don dey do mumu/holy before, immediately you realise "Nothing go happen if everyone chop" Mentality to public service may change. My observation

The most painful thing is that these may never be recovered. Nigeria is gradually gravitating towards a state of jamboree.

adenigga:

https://m.guardian.ng/News/Reps-panel-alleges-theft-of-$20b-crude-oil-in-seven-years

Story. A generation of politicians who believe that cheap cash from crude oil and gas deposits is all there’s for a country to survive. The richest countries of the world are not rich because of crude oil in and gas deposits in their domains.

according to fela... arangee government

post=98733173:

May it never be well with the evil party of looters, thieves criminals that raped and looted our nation and ran it to the ground totally.
And may it never be well in life with the swines castigating the over 15 million honest, good and hardworking Nigerians for voting out the party of looters and criminals.

Have you blamed Jonathan today?

Mtsheew

They speak like we citizens should now handle the matter for them..
Mtsheew again..