Nigeria Loses over 300,000 Barrels of Crude Oil Per Day to Theft, Says Abbas

Fubara inaugurates new Naval Training Command Headquarters in Rivers

The Speaker of the House of Representatives, Hon. Abbas Tajudeen, has lamented that Nigeria loses an estimated 300,000 barrels of crude oil per day to theft.

The Speaker made the assertion in his remarks yesterday, at the inauguration of the New Headquarters Naval Training Command in Ebubu community, Eleme Local Government Area of Rivers State.

Represented by the Chairman, House of Representatives Committee on Defence, Hon. Babajimi Benson, Abbas said the challenge has led to the call for the Nigerian Navy to rise up to its mandate of contributing to the survival of the national economy.

He further urged the Nigerian Navy to defend and protect the sovereignty of Nigeria's territorial waters against all forms of threats.

He said: "Unfortunately, it is estimated that Nigeria loses over 300,000 barrels of crude oil daily to oil theft, pipeline vandalism and other forms of criminality. This has led to revenue losses estimated at

N1.29 trillion annually.

"Therefore, concerned about the adverse effects of oil theft in Nigeria, I inaugurated a Special Committee on Crude Oil Theft Losses on November 22, 2023, to determine decisive remedial actions to be taken.

"I commend the Nigerian Navy on the steps taken so far, and I urge the Navy to sustain the momentum."

Inaugurating the new headquarters of the training command, Governor Siminalayi Fubara urged the Nigerian Navy to ensure that its investment in the professional development of naval personnel translated into visible advancement in the security and prosperity of the nation’s maritime interests and blue economy.

Noting that the event completed a development journey that started in April, 2023, Governor Fubara said his predecessor ceded the dilapidated structures of the abandoned former Ambassador Nne Krukrubo Model Government Secondary School to the Nigerian Navy for use.

"Today, we have seen the results of that noble and progressive decision with the comprehensive transformation and upgrading of the facilities as the Nigerian Navy’s new Headquarters Training Command, which was hitherto domiciled in Lagos State.

"This magnificent training command stands as a testament to the commitment of the leadership of the Nigerian Navy to invest in the professional development of our naval personnel with the singular objective of cultivating a highly skilled, proficient and motivated naval force capable of advancing the security and prosperity of the nation’s maritime interests."