Nigeria lost N76bn worth of crude to pipeline vandals in 2020 - Report

A report released by the Nigerian Navy has stated that the country has lost at least 3.1 million barrels of crude worth about $200m (about N76.3 billion) in 2020 due to activities of pipeline vandals and crude oil thieves.

The report according to Economic Confidential x-rays some of the operational activities in 2000.

A barrel of crude oil currently sells for 50 dollars per barrel at the international market.

The report also revealed that the country also lost slightly above one million metric tons of Automotive Gas Oil (AGO), 2.6m litres of premium motor spirit (PMS) and 3.6m litres of Dual Purpose Kerosene (DPK) between January and December 2020.

In the report, the Chief of the Naval Staff, Vice Admiral Ibok Ete Ekwe-Ibas noted that 339 pirate attacks were recorded in the Gulf of Guinea and out of which 214 of the attacks as well as 107 activities of sea robbers occurred within the nation’s territorial waters in 2020

The CNS noted in the report that, although there was a slight increase in 2020 piracy attacks within Nigeria Maritime Environment (NME) but that, more than 70 per cent of the attacks were unsuccessful due to Nigerian Navy robust surveillance system and response capability.

Ibas also noted that a total of 982 illegal local refineries/refining sites were deactivated with about 487 suspects arrested.

Stating further he said in the area of illegal bunkering, the Navy denied crude oil thieves a total of 3,136,877 bbls crude as well as over 7,167,831 litres of different petroleum products among others, all worth billions of naira.

“Various naval operations in 2020 led to the arrest of a total of 593 vessels/trucks/barges/boats suspected of committing various infractions within the maritime domain.

“The breakdown includes 87 vessels, 43 barges, 57-speed boats, 393 destroyed wooden boats, 13 trucks and 16 impounded vehicles.

“13 of these vessels are already forfeited to the Federal Government of Nigeria while others are handed over to various prosecuting agencies for jurisdiction.