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Nigeria Lost N2.3tn Revenue To Oil Theft in 12 Months — IOC

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Nigeria has lost an opportunity to produce and sell about 65,700,000 barrels of oil in the last one year due to issues bothering on pipeline vandalism and the resultant oil theft.

This translates to about N2.3tn loss in oil revenue if the prevailing exchange rate and average oil price are used.

The Chairman of Shell Companies in Nigeria, Dr Osagie Okubor, said at the just concluded Nigerian International Energy Summit held in Abuja, said the 180, 000 barrels per day Trans Niger Pipeline had remained shut for more than one year- March 2022 to March 2023.

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The loss from March last year to March this year brings total shut in/loss to about 65, 700, 000 barrels. Brent crude price averaged about $83 per barrel from March 2022 to March 2023, meaning the country could have lost as much as N2.3tr to the menace.

READ ALSO: $2.4bn Oil Probe: Malami To Appear Before Reps Thursday

The TNP, a Joint Venture operated by SPDC is a major pipeline capable of transporting about 180,000 barrels of crude per day to the Bonny export terminal.

Speaking at the NIES, Okunbor said the TNP remained shut for one year due to the massive crude oil theft on the pipeline.

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The pipeline, according to Shell, is part of the gas liquids evacuation infrastructure, critical for continued domestic power generation and liquefied gas exports.

He said, “What keeps me awake today as regards my onshore business in Shell is the fact that we cannot operate a pipeline, and that’s what is responsible for the 60 percent capacity. I think today that is almost just how much gas we can supply,” he said.

READ ALSO: Oil Theft, Losses Will Fuel Crisis In Nigeria If Not Checked, Osinbajo, Ndiomu Warn

“And this is because one of our key gas infrastructures — the TNP — was shut down for one year; we removed 460 illegal connections on that line. We just reopened that line. Today we are struggling to catch up with our first programme.”

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Okunbor said the loss was often viewed as affecting Nigeria’s oil production quota to the Organisation of Petroleum Exporting Countries.

He stressed that the situation was also having devastating implications on the supply of gas to the Nigeria Liquefied Natural Gas.

“So, if you ask me what the number one issue has to be for the incoming administration, it has to be the security of oil and gas infrastructure. If you don’t fix it, then we have a huge problem on our hands,” Okunbor said.

Okunbor advised the incoming administration to prioritised the security of oil infrastructure.

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READ ALSO: Oil Theft: Tompolo Uncovers More 42 Tapping Points In Delta, Bayelsa

There were reports that the Federal Government was planning to reopen the pipeline last October.

However, talks with the Bodo community in the Gokana Local Government Area of Rivers State appear to have collapsed.

Okunbor however said Nigeria was not short of frameworks and written documents on how to tackle the various challenges in the oil sector.

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He noted that the decade of gas document, for example, included steps to deepen gas use, but implementation remained a challenge.

On his part, Managing Director of Nigerian Liquefied Natural Gas Limited, Philip Mshelbila, pointed out that 40 per cent of globally renowned gas firms’ capacity had been lying fallow due to theft.

He added that the lack of power to execute the recommendations and policies in the various documents and laws of the oil sector remained a challenge to the industry.

Last year, the Nigerian National Petroleum Company said it detected an illegal connection on the Trans Escravos pipeline looped to the four-kilometre Afremo test line.
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2023: Why INEC Servers Failed To Work – Peter Obi

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The presidential candidate of the Labour Party, Peter Obi has explained why the Independent National Electoral Commission, INEC, servers failed to work during the 2023 presidential election.

He said the ‘establishment of criminality’ made the INEC servers not work during the last last general elections.

Obi stated this, while addressing the issues of the 2023 elections, including the IREV servers, in Canada during the weekend.

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READ ALSO: Underbridge Tenants: Lagos Govt Uncovers Identity Of Ring Leader

The Labour Party flagbearer in 2023 said people must intensify engagement with all the stakeholders to make the system work.

The former Anambra State governor explained that Amazon testified there were no glitches recorded globally on the day of the presidential election.

He said: “Where did we go wrong in the last election? We didn’t go wrong anywhere. We did the right things.

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“But as I can always tell people: when you bring a change, you fight all those who live off the old order. They don’t go away; they gang up. And don’t think it’s a straight race to remove an establishment.

READ ALSO: PDP Crisis: Why Party Members Are Resigning – Sule Lamido

“It’s a long-distance journey anywhere in the world. Go and check anywhere, whether you are looking at what happened in India, with Mandela in South Africa, or America. No change has happened overnight, it takes time.

“I urge all of you, if you really want change, we have just begun. We just have to continue from where we are.

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“Yes, there might be one or two things we will correct, those things we will correct. I assure you we are correcting them without naming them.It’s not going to be easy.”

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INC Vows To Internationalise Ijaw Struggle

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The Ijaw National Congress (INC) says time has come to internationalise the “Ijaw struggle” beyond rhetoric.

Prof. Benjamin Okaba, President, INC, said this in a communique of the 2024 edition of the Ijaw National Day celebration held in Bayelsa.

Okaba said that the vexatious factors that provoked grievances between the late Maj. Adaka Boro and the federal government in the improper management of the oil political economy of Nigeria, have remained unmitigated.

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He noted that the situation had worsened with its attendant impunity.

READ ALSO: Ijaw Not Biafra, Count Us Out Of Your Planned Attack Military, INC Warns IPOB

According to him, the Ijaw environment continues to bear the brunt of petroleum resources exploitation-related pollution without concomitant remediation or reparations of the heavily despoiled ecosystem.

Instead, Ijaw communities still face the adverse effects of uncontrollable spills, perennial flooding, ocean encroachment and so on,” he said.

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The INC president noted that at different forums, it had been made clear that the Ijaw agenda of self-determination was premised on resource and environmental justice.

“What all Ijaw people seek is for a fair, just and justifiable reward for our resources and sacrifices.

“The Ijaw Congress has articulated a set of prescient conditions for its continuous commitment to the Nigerian project and these include restoration of true federalism (fiscal federalism).

READ ALSO: Ijaw Group Tackles OPC, CSO Over Call For Review Of Tompolo’s Surveillance Contract

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“Devolution of power and repel of all obnoxious and discriminatory environmental and resource related laws (Land Use, PIA), as well as restoration of Ijaw Territory as non-balkanised, administrative and politically generated unit(s).

“This is for the reassurance and promotion of Ijaw developmental pursuits by creating at least two additional states, more local government areas and wards for the Ijaws.

“Remediation of our massively polluted and endangered environment and the enforcement of adherence to international environmental best practices by IOC’s operating in Ijaw territories,” he said.

Okaba also demanded for the relocation of the administrative headquarters of all oil companies and their subsidiaries to their operational bases in Ijaw territory and Niger Delta.

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READ ALSO: Ijaw Demand Environmental Clean-up Before IOCs Exit Niger Delta

He further called for proper funding and management of the Interventionist Agencies such as the Presidential Amnesty Programme and Niger Delta Development Commission.

We call for the promotion of modular refineries owned by our people.

“We also want a balance in appointment at the federal levels (the civil service, military and oil companies) as well as equitable distribution of critical infrastructure, to reflect the true principles of federal character.”

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He said it was against this backdrop that the theme of the 2024 Ijaw National Day “Re-Invigorating Our Resolve to take the Ijaw struggle for Self-determination beyond Rhetoric” was derived.

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Drake Gives Condition To Quit Music As Feud With Kendrick Lamar Thickens

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US rapper Drake has vowed to quit his music career if allegations regarding a secret daughter are substantiated.

The controversy started when rival artiste Kendrick Lamar, in his diss track ‘Meet The Grahams,’ levied accusations suggesting Drake’s involvement with an 11-year-old secret daughter.

Lamar branded the Canadian rapper a “deadbeat” for purportedly neglecting his paternal responsibilities

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Renowned American media personality Akademiks, however, disclosed rapper’s response to the allegations during a recent broadcast.

According to Akademiks, Drake denied the claims, going as far as promising to leave the music industry and work for Akademiks if any evidence of the alleged secret daughter emerged.

During his Saturday night show, Akademiks shared the rapper’s direct message, stating, “Drake hit [texted] me, he said, ‘Ak, if you or anybody can prove that I have an 11-year-old daughter, I’ll quit rapping and come work for you.’”

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