Nigeria is losing about 400, 000 barrels
of oil to thieves daily, Vice President
Yemi Osinbajo said Saturday.
That amounts to about N4.8 billion daily.
Vice-President Osinbajo made the
remark at the 10th Anniversary of
Crescent University, Abeokuta, where he
delivered a lecture titled “Nigerian
Economy and the Future”.
He said while Nigeria loses 400,000
barrels of oil daily, a country like Ghana
survives on less than 150, 000 barrels
per day.
Mr. Osinbajo was speaking about the
new government’s plan to revamp the
economy and increase power supply.
“The militancy in the south has also
reduced oil production significantly and
that is why any form of extremism must
be put down not only because of the
economy but for the unity and peace of
the country and that is why all the
recent initiatives are important because
we must deal with the question of
economy,” he said.
“In the petroleum sector, vandalism also
contributes in no small measure to the
drop in the output of the sector. 400, 000
barrels are stolen on daily basis while
countries like Ghana only survive on less
than 150, 000 barrels.”
He said the government will prioritize
the security of the oil sector, adding that
transparency would be the watchword of
the present administration.
On power, Mr. Osinbajo said the
government will increase Nigeria’s
current 13, 000 megawatts generating
capacity, and would also work to
increase the transmission capacity which
he said, stood at 5, 000 megawatts.
He said the 10% Gross Domestic Product
growth promised by Muhammed Buhari-
led administration can only come to
reality if the power sector is made to
produce more megawatts.
Mr. Osinbajo said the Federal
Government would consider the
privatization of transmission of power
which is still in the hands of the federal
government, saying the current
privatization only covers the distribution
aspect.
“The 10% GDP growth annually cannot
happen until we increase the supply in
power sector. While we will maintain
the generating capacity which stands at
13, 000 megawatts, we must also
increase the transmission capacity which
currently stands at 5, 000 megawatts,
without that, it doesn’t matter the
number of megawatts we generate.
“We must improve the generating
capacity and also improve the
evacuating capacity. The gas is there but
the infrastructure that can transmit the
gas is not in place, we observe that the
project has been awarded for long but
not completed; we will ensure the
completion of the infrastructures while
we also look at the privatization of the
transmission,” he said.
The Vice President appealed to Nigerians
to be patient and allow the new
government some time to put things in
good shape. He assured the
administration will deliver on its
campaign promises.
source: http://www.premiumtimesng.com/news/headlines/185016-nigeria-losing-400000-barrels-of-oil-to-thieves-daily-osinbajo.html

Okay

Haters/TANoid wil b like:
What's this "ordinary commissioner" saying
Bt me dey ur back

We know that.

Why depressing the poor masses who put you there to stop the oil thieves? You expect them to come after oil thieves armed with sticks and blunt cutlasses? As against a cabal armed and even escorted by the military?

I wish to one day read a press conference from our leaders that starts thus- As I'm speaking with you right now tanks and fighter jets and gun boats are moving into the creeks and high seas to stop them with live coverages as evidence. Until that day which may never come I elect to be a voice for the poor masses.

Fix power and many other things will fall into place. Any government that can solve our power sector quandary deserves high accolades.

Nice move by our VP

I'm sure he read that on the newspapers abi his oga don dey allow him access to files?

Known thieves or unknown thieves....cos i think the government knows exactly wat is happening....

#make una no dey deceive us abeg

Ok! So, how much do Nigeria lose from Political & Official thieves a day??..mr Irrevelant One a.k.a Osibanjo Osubande just talking nonsense..

Is it not our oyel?


Resons Why You Need To Stop Typing Amen To Facebook Posts

Where is that? The Presido must hear this.

We as a country need to stand up ooh
The leaders don't even care about us

Let's declar a on week fasting and prayer so that god will not allow any politician that steal our money to see rest

Every time Osinbade and Aregbesola will be talking about Oil ..... As if their state get oil!!


SMH

What happen to cocoa ?

But i tink this news is old.

This lagoon called "Nigeria" is not far from hell hole.




The people we called our leaders are busy loading our money like recharge card in their bank account.




Everyday the keep telling us Dsame stories.





D!ck head country

Now you are on seat, stop losing the oil, and stop singing !

Thought some dudes and puss.ys say this man ain't working...?

They need their brain checked... Even buhari is watching everybody in 4D...

Say whatever you want to say about this government, the truth is I am not in a hurry for change or transformation. They are not magicians, they need time and proper planning to set the ball rolling...


If you feel you can't be patient enough.. Abeg chad, Cameroon, Niger and Benin, are nearby go there and leave 9ja for us.



God bless Nigeria

In as much as no one should expect APC to perform magic, I think their press release these days is more like an "Opposition" statement...

We all know the rot in the oil sector, they should not be reminding of us of that, we voted them to get it fixed and not all this "My state is dying because 400,000 barrel of oil is stolen" as stated by one of the governor

Its time to start acting and quit talking...IMO

Oga commissioner is it your oil?

IdiAmin1:
I'm sure he read that on the newspapers abi his oga don dey allow him access to files?

Were you not the same hypocrite on the other VP thread. Where you were talking about some Yeeboe anx SW fight while Hausa watch on, you are here again spewing trash. Buahahahahaha Yeebhoes are funny people.

After1one:


Were you not the same hypocrite on the other VP thread. Where you were talking about some Yeeboe anx SW fight while Hausa watch on, you are here again spewing trash. Buahahahahaha Yeebhoes are funny people.

Bros, I'm not stiff-necked.

Jokes and laughs make a man live longer.

John Okafor is a s+upid man but we can't do away with him mek son of man dey laugh naa

IdiAmin1:
Bros, I'm not stiff-necked.

Jokes and laughs make a man live longer.

John Okafor is a s+upid man but we can't do away with him mek son of man dey laugh naa

Lolzzzzz. Na so

kazmanbanjoko:
But i tink this news is old.

Very old.

After1one:


Were you not the same hypocrite on the other VP thread. Where you were talking about some Yeeboe anx SW fight while Hausa watch on, you are here again spewing trash. Buahahahahaha Yeebhoes are funny people.

Hehehe. E pain am!

Fuckface! Why not attack the guy and leave igbos alone. Oh I get it, they must have been on your arse in your dream last night.

Mr Taju!

That alond can meet all our local needs of personal fuel consumption

When will APC and their chief actors realise that election
Campaigns are long over?
Why is the Prof still in research mode rather than action mode?
What is the use of tellingbus again and again what we already know
rather than what you have already done about it?

If your government has not provided any solutions yet, it is kinder
for you to pity the masses in this country and shut up rather
than deliberately reminding us of our pains just so we can hear your voice.

When did Osibande start making contribution?

Didnt his master lock him out this time?

South West slaves!