The President of the Senate Ahmad Lawan says Nigeria loses one million barrels of crude oil daily to crude theft.


He made the remarks at the presentation of the 2023 Appropriation Bill to a joint session of the National Assembly by President Muhammadu Buhari in Abuja on Friday.

Lawan said that the Nigerian economy was still challenged by a dearth of revenues and the situation was worsened recently, culminating in the loss of one million barrels of crude per day.

He said: “Translated into monetary terms, our loss is monumental. The large scale and massive stealing of our oil are concerning as this reduces drastically, the revenues available to the government.

“With conflicting figures, projections have put our losses from this malaise at between 700, 000 to 900, 000 barrels of crude oil per day, leading to about 29 to 35 per cent loss in oil revenue in the first quarter of 2022.”

The senate president also said that the figure represented an estimated total revenue fall from N1.1 trillion recorded in the last quarter of 2021 to N790 billion in the first quarter of this year.

“The figures show we are not able to meet the Organisation of the Petroleum Exporting Countries (OPEC) daily quota of 1.8 million barrels per day.

"I consider the oil thieves the worst enemies of our country. The thieves have declared war on our country and our people.

“I strongly feel that if we do not take the necessary measures to stop the thieves immediately, our economy will be devastated, as efforts to provide infrastructure and diversify the economy will be thwarted.


"The idea of deploying our revenues from oil and gas to support diversification into real sectors like agriculture, manufacturing, mining etc is now under serious threat.

“It is time to take drastic and desperate measures against the thieves,” Lawan said.

He said the situation had become more worrisome if factored in, an estimated budget deficit of N7 trillion with its grim prospect of increasing to about N11.30 trillion, as presented in the 2023 – 2025 Medium Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP).

The senate president, however, said that the budget deficit could be reduced by stopping the theft.

“We can also consider other options to source more revenues for government through the review of waivers and concessions government has granted to the tune of N6 trillion,” he added.

Other options, he said, included removing some major revenue-generating agencies from direct funding by placing them on the cost of collection of revenues, as was done for the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service (NCS).

“In this regard, agencies like Nigeria Ports Authority (NPA), Nigeria Communications Commission (NCC), Nigeria Maritime Administration and Safety Agency (NIMASA), etc can be given the encouraging cost of collections of revenues,” he said.


https://www.vanguardngr.com/2022/10/one-million-barrels-of-crude-stolen-daily-ahmad-lawan/

This is what Thifnubu without primary and secondary school education want to continue.

GOD FORBID BATthing.

Buhari we later give an update on progress made in challenging corruptions

Thieves.. Barawo

Thieves... Barawo!

I dont think this man knows the meaning of 1million barrels?

It will takes about about the size of the biggest cargo ship in the world, bigger than the popular titanic movie cruise ship to carry 500,000 barrels at once.
That means the mighty cargo ship will need to go two times.


Now

If they are implying that 1m barrel is being stolen daily, it means it will take over 200 big motor tankers to go like 14-15 trips go-come daily. Because the transporting crude oil tanker can only takes about 350 barrels per movement or less self.

If true...How can they always make that trip daily to and fro without been noticed?


NAIJA..... AHHHHHHHHHHHH

It is safe to say that Buhari is Collecting his Retirement Benefits from the Stolen Crude Oil sales...

He has a hand in it...

Since he still cannot arrest those that are robbing the Nation of her natural resources..

After watching on channels TV where oil bunkering had been taking place for decades covertly in the creeks last night , I was like, Nigeria is a joke. See how these professional thieves went and drilled 2 holes on the main crude-conveying thick pipe and connected 2 pipes on top of it, channelled it to the ocean where the bunkering had been taking place for nearly 3 decades. Meeehn!

No wonder Obi said there's connivance of some big and mighty in the society in the deal. He's been saying this from day one. Yesterday's revelation was a proof. Mr GO AND VERIFY was right. I can't wait to vote this man. He's also proffered a solution to the menace in his manifesto, Lobatan

A better Nigeria is possible.

Buhari is a mistake meant not to have happened......
Amo oye Olorun.......

Eriokanmi:
After watching on channels TV where oil bunkering had been taking place for decades covertly in the creeks last night , I was like, Nigeria is a joke. See how these professional thieves went and drilled 2 holes on the main crude-conveying thick pipe and connected 2 pipes on top of it, channelled it to the ocean where the bunkering had been taking place for nearly 3 decades. Meeehn!

No wonder Obi said there's connivance of some big and mighty in the society in the deal. He's been saying this from day one. Yesterday's revelation was a proof. Mr GO AND VERIFY was right. I can't wait to vote this man. He's also proffered a solution to the menace in his manifesto, Lobatan

A better Nigeria is possible.

Obi will be worse than Buhari......
No Governor, House of Assembly....
Majority of us know how Nigeria runs....
One tree doesn't change anything remarkable.....

.

1,000,000 barrels ×$116×N740 = N85,840,000,000
Over 85Billion Naira stolen every day.

No wonder Oyinbo rightly tagged us FANTASTICALLY corrupt.

Keep brandishing figures anyhow.

Do these people know the magnitude of these figures?

1 million barrels of crude oil is not quantity you move easily without authority.

LeoDeKing:
Keep brandishing figures anyhow.

Do these people know the magnitude of these figures?

1 million barrels of crude oil is not quantity you move easily without authority.

Who tells you.....
The vessel that loaded in Akpo field and arrested in a neighbouring country nko, only God knows how many are working free our water...
In the year of GEJ, the so called corruption and inefficient buffoon, our daily was averaged 2.2millon barrels per day.....
Check how much we turn out now and asked where are the remaining........

Courtesy of APC corrupt and failed government

Omooba77:


Obi will be worse than Buhari......
No Governor, House of Assembly....
Majority of us know how Nigeria runs....
One tree doesn't change anything remarkable.....

I differ. Why did they wait until obi bursted their bubbles before discovering the mess?

Eriokanmi:
I differ. Why did they wait until obi bursted their bubbles before discovering the mess?

Did you heard Baba Adeboye's message early in the year....I like the way you hyped Obi....Only a Dundee don't know oil theft is highest since 4 years ago.....

1 million multiply by 365 multiply $92.5......
Kindly do the Maths of what is stolen......

OKOO

Omooba77:


Did you heard Baba Adeboye's message early in the year....I like the way you hyped Obi....Only a Dundee don't know oil theft is highest since 4 years ago.....

Pastor Adeboye isn't a politician. Why didn't our politicians talk about it for ages? Didn't tinubu or atiku know about it? Why keep silent? During the covid-19 lockdown in 2020, malami was fingered in the oil vessel sold to China when there was no activity worldwide, which he denied. Wasn't the national aware of it? What happened eventually? Obi bursted their bubbles during one of his speeches abroad and they began searching everywhere in the creeks until they discovered one. There are still more.

According to channels TV, those illegal pipelines channelled into the ocean had been there for decades. Why act after Obi's outburst?

Eriokanmi:
Pastor Adeboye isn't a politician. Why didn't our politicians talk about it for ages? Didn't tinubu or atiku know about it? Why keep silent? During the covid-19 lockdown in 2020, malami was fingered in the oil vessel sold to China when there was no activity worldwide, which he denied. Wasn't the national aware of it? What happened eventually? Obi bursted their bubbles during one of his speeches abroad and they began searching everywhere in the creeks until they discovered one. There are still more.

According to channels TV, those illegal pipelines channelled into the ocean had been there for decades. Why act after Obi's outburst?

Everyone knows bros,..... How can you have 4km line connections to Forcados line and nobody knows, even if it is 2inches.....

Omooba77:


Everyone knows bros,..... How can you have 4km line connections to Forcados line and nobody knows, even if it is 2inches.....

My point is, not everyone knows. Only some key politicians do. Before yesterday's discovery, did you know a thing like that ever existed in that place? They had to dig it out sef. Even those who know didn't say pim. But obi came to the open and said it. He also said he'd stop the nonsense if elected....sharply, we started seeing actions. Why wait for decades?

Is Buhari not the minister of petroleum?He ought to be sanctioned for incompetency.

Eriokanmi:
My point is, not everyone knows. Only some key politicians do. Before yesterday's discovery, did you know a thing like that ever existed in that place? They had to dig it out sef. Even those who know didn't say pim. But obi came to the open and said it. He also said he'd stop the nonsense if elected....sharply, we started seeing actions. Why wait for decades?

Oga, not everything is good for the media.....

Revolution2022:
Is Buhari not the minister of petroleum?He ought to be sanctioned for incompetency.

In Nigeria, where nobody is sanctioned...In UK Minister of Trade just got sacked........

1 million barrels per day, Nigeria is a special case.......

You call it theft, they call it resource control.

omowolewa:
You call it theft, they call it resource control.

Are they just waking up......

Hope they have discovered others......