Nigeria Loses N1.29 Trillion Annually to Crude Oil Theft, Speaker Tajudeen Reveals

At the commissioning of the Nigerian Navy Training Command in Eleme, Rivers State, the Speaker of the House of Representatives, Hon. Abbas Tajudeen, revealed that Nigeria loses N1.29 trillion annually to oil theft, pipeline vandalism, and other criminal activities.
He made this statement through the Chairman, House of Representatives Committee on Defence, Hon. Babajimi Benson, on Friday.
According to the Speaker, Nigeria loses approximately 300,000 barrels of crude oil daily to theft, posing a significant challenge to the Nigerian Navy in protecting the country’s territorial waters and contributing to the survival of the national economy.
Tajudeen commended the Nigerian Navy for its efforts to address the issue of oil theft and urged the institution to sustain the momentum.
He highlighted the establishment of a special committee on Crude Oil Theft Losses to determine decisive remedial actions.
The Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, expressed gratitude to the Rivers State Government for donating the entire complex to the Nigerian Navy, emphasizing the importance of the relocation of the Headquarters Naval Training Command from Lagos to Ebubu-Eleme in Rivers State.
This move, he said, would bolster human capacity development of the Nigerian Navy personnel and strengthen cooperation towards national security and development.
Ogalla assured that the Nigerian Navy would continue to carry out operations to ensure the security of the nation’s maritime domain, as well as secure Rivers State and the entire Niger Delta region.
Rivers State Governor, Sir 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.
The event marked the completion of a development journey that began in April, 2023, when the former Governor of Rivers State, Governor Fubara, ceded the dilapidated structures of the abandoned Ambassador Nne Krukrubo Model Government Secondary School to the Nigerian Navy for use.
The Nigerian Navy Training Command is now a significant milestone in President Bola Tinubu’s efforts to strengthen the combat capabilities of the Nigerian Navy to deal with the expanded spectrum of maritime security threats in the nation.
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