Nigerian billionaire and Chairman of Heirs Holdings, Tony Elumelu, has called on the Nigerian government and security agencies to reveal the identities of those responsible for the theft of the country’s crude oil.
Elumelu made this appeal during an interview published by the Financial Times on Friday.
Elumelu expressed concern over the significant loss of crude oil due to theft, highlighting that of the 42,000 barrels of crude produced daily, approximately 18 percent is stolen.
He emphasized the severity of the situation, noting that the scale of the theft is far beyond petty crime.
Elumelu stated, “42,000 barrels of crude pumped out daily. Theft still takes away about 18 percent of production.
Asked who is behind the theft, he replied, “This is oil theft, we’re not talking about stealing a bottle of coke you can put in your pocket. The government should know, they should tell us. Look at America — Donald Trump was shot at and quickly they knew the background of who shot him. Our security agencies should tell us who is stealing our oil. You bring vessels to our territorial waters and we don’t know?”
His comments come amid the ongoing issue of crude oil theft in Nigeria, a problem that has plagued the country for years.
In June 2024, the Nigerian National Petroleum Company Limited (NNPCL) reported the discovery of an additional 165 illegal refineries across various locations in the Niger Delta.
The increase in illegal refineries and the continuous theft of crude oil pose significant challenges to Nigeria’s oil production and refining capacity, with the recently inaugurated 650,000 barrels per day.
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