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Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu - Politics - Nairaland

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Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by Ptimes: 12:18pm On May 25, 2012
Nigeria losing $9 billion to oil theft annually says Ribadu

[img]http://premiumtimesng.com/thumbnail.php?file=Ribadu__820958237.jpg&size=article_large[/img]

“The truth is that depending on whose statistics you are endorsing today, our country losses about a quarter of a million barrels of crude oil per day to theft, not to mention spillage, and I challenge you all now to imagine the revenue implications of that loss, ladies and gentlemen” Mr. Ribadu told his audience of security experts.

Security is the major reason Nigeria is haemorrhaging in massive revenue Nuhu Ribadu, Chairman of the Petroleum Revenue Special Task Force, told about 100 leading security experts drawn from the state and private sectors Thursday at a critical meeting to “review existing strategies, working or failing models, and a perspective of the vision for the future” in Abuja.

“The truth is that depending on whose statistics you are endorsing today, our country loses about a quarter of a million barrels of crude oil per day to theft, not to mention spillage, and I challenge you all to imagine the revenue implications of that loss, ladies and gentlemen,” Mr. Ribadu told his audience.

He told the experts that conservative losses compute to about $25 Million dollars in revenue leakage daily, adding up to about $9 billion annually, “and at that level, brothers and friends, oil theft has become, perhaps, the leading threat to our sovereignty” he remarked.

The Task Force on Petroleum Revenue which is rounding up its work organised the meeting as a sensitization programme to elicit a new consensus from leading stakeholders in the security field on how to end the problems of bunkering, piracy, and kidnapping in the “major resource belt” of the nation, which Mr. Ribadu described as the “strategic asset base of the country which requires new models of compassionate and workable policy responses.”

Community representatives from the Niger Delta told PREMIUM TIMES that they felt “humanized as co-stakeholders, for the first time, in a government setting” to share their perspectives without “being seen merely as criminal gangs.” At least 12 international and half a dozen local oil-producing companies who also participated at the meeting thought “it had a feel of more reality and purpose than many government talk shops.”

The security meeting dovetailed into an earlier meeting, on automation of the production value chain in the oil and gas industry, which drew an equal number of IT experts seeking the best technology mechanism to ensure expanded accountability and transparency regimes in the industry.

Some of the resolutions proposed for further reflections and implementations included introduction of technology based standardised metering systems with electronic and satellite capabilities, regulated community policing mechanisms, genetic finger printing of Nigerian hydrocarbon assets, and a robust regulatory environment in the industry.


http://premiumtimesng.com/news/5285-nigeria_losing_9_trillion_to_oil_theft_annually_says_ribadu.html
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by OAM4J: 12:56pm On May 25, 2012
We know this already, we only need the way out.
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by chuks49(m): 2:44pm On May 25, 2012
Alameseigha knows those responsible for this. He recently demanded for their recognition by the Federal Government.
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by onyewec3: 2:45pm On May 25, 2012
RIBADU the PDP STOOGE
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by JimmyBoy1: 2:45pm On May 25, 2012
Most of these thefts takes place with active connivance with members of Nigerian armed finance.
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by xcolanto(m): 2:47pm On May 25, 2012
The one they have been collecting legally, what has it been used for? undecided

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Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by babaowo: 2:53pm On May 25, 2012
so! Mr robodu? What's your solution to this?
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by maasoap(m): 2:54pm On May 25, 2012
It is even better that way because we're losing the remaining one to corrupt people in govt through fake subsidy payment or white elephant projects.
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by ifihearam: 2:54pm On May 25, 2012
Ribadu should shut up
By the way what happened to the committee report he chaired along side with agbakoba
Who has heard anything about the report.
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by wqrfsddthotmai: 2:57pm On May 25, 2012
chuks49: Alameseigha knows those responsible for this. He recently demanded for their recognition by the Federal Government.
bump[img]http://www.50centloseweight.com[/img]
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by basadenet: 3:00pm On May 25, 2012
The who;e same story not news anymore. What is the way out?
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by HighChief4(m): 3:05pm On May 25, 2012
Stale news, say something new. The oil should even dry up
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by Nobody: 3:08pm On May 25, 2012
High_Chief: Stale news, say something new. The oil should even dry up
Seriously, Nigeria's oil should just dry up.
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by saydfact(m): 3:21pm On May 25, 2012
how much do we lose to ur theft?
lipsrsealed kiss lipsrsealed
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by Efizzi: 3:33pm On May 25, 2012
THIS TOPIC OFTEN CONFUSES ME.... PLEASE WHO IS THE REAL OIL THIEVES HERE, IS IT THE BUNKERS WHO STEAL OIL FROM PIELINES OR THE MULTINATIONAL OIL COMPANIES WHO STEAL THE CRUDE LEGITIMATELY BY DECLARING LESS THAN 60PERCENT OF PRODUCED OIL OR IS IT THE FEDERAL GOVERNMENT WHO STEALS THIS CRUDE BY THEIR PRIVATE COMPANIES AND OIL BLOCKS THEY SELL TO THEMSELVES?
UNTILL I KNOW THE PARTICULAR THIEF THEY ARE TALKING ABOUT I REALLY CANT COMMENT......

1 Like

Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by ebamma(m): 3:35pm On May 25, 2012
because dis bunkerers follow finance goodluck jonathan's election,is that why the cant go after them?, or abi bunkerers na spirits.
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by Nobody: 3:55pm On May 25, 2012
ribadu should tell us how much Nigeria looses everyday due to govt officials looting the treasury
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by slimming: 4:20pm On May 25, 2012
Politicians and civil servants are the most senior thieves in Nigeria.
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by PointB: 5:21pm On May 25, 2012
Who are the thieves? The Northern elites who stole several oil blocks from Niger Delta after the civil war, or the little man who bunkers oil in the dead of the night?

By the way, why is this oil theft the greatest threat to our sovereignty? On what scale did they put Boko Haram activities sponsored (financially and spiritually) by Northern elements like Buhari and co?

In any case, I only hope that this time around Niger Deltans are the ones 'stealing' their own oil!
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by stebell(m): 8:41pm On May 25, 2012
So na jus 9billion na im make we no go hear sometin. I tink he got his fact wrong. It shud be more dan dat. De so called JTF are pt of de thieves we hv in de creeks
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by Nobody: 10:53pm On May 25, 2012
Stole as in, was the money in FG accts or something?
They can only say 'Nigeria loses x barrels of crude to illegal miners' not that rubbish! angry
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by Nobody: 5:57am On May 26, 2012
Who are the oil thieves?

On a different topic, how much goes into Amnesty funds?
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by babestella: 10:13am On May 26, 2012
where did he get his data from, we all know that there are oil thieves, but who has been able to estimate what they quantity they steal, the ones that was accounted for, where is the money, what is it being used for, to run NASS and the Execu-thieves with about 80% of the budget as recurrent expenditure, and 20% dormant budget for4 capital projects which are never done.

Finally Mr. Riba-dooo, what do you plan to do to stop the loss of 30% revenue in the oil sector. Tell us the problems and proffer realistic solutions too.
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by member479760: 12:14pm On May 26, 2012
his solution is that, he has collected the money dump it at CBN in Sanusi account as usual. policeman tiv.
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by 1forall: 1:04pm On May 26, 2012
A former presidential candidate now serving under opposition government as a task force chairman is talking.

Nuhu wetin happen to your task force? Na 60 days be dis? Una no go release one yeye report at least?

Once a Naija policeman, always one. Shameless!!
Re: Nigeria Losing $9 Billion To Oil Theft Annually - Nuhu Ribadu by juman(m): 1:34pm On May 26, 2012
High_Chief: Stale news, say something new. The oil should even dry up

I agree, the oil should just dry off. It has no value to the masses.

It's better to have the unemployed guys doing bunkering than them engaging in armed robbery killing policemen and other people.

The unfortunate part is that those people that are destroying the country are also majorly the people behind the oil bunkering.

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