Billionaire Tony Elumelu challenges Tinubu over this one thing

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Nigerian billionaire businessman Tony Elumelu has urged the federal government and security agencies to identify and expose those involved in smuggling the nation's crude oil.

In an interview with the Financial Times, Elumelu highlighted that this issue has led to the withdrawal of international oil companies from Nigeria.

Drama as Tony Elumelu urges FG to name those stealing Nigeria's crude oil
Source: UGC

Elumelu, whose company Heirs Holdings has substantial investments in the oil industry, attributed this situation to the activities of criminal gangs siphoning crude oil from pipelines.

He stated that the government ought to be aware of and capable of identifying those responsible for the large-scale oil theft in the country.

Elumelu said:

“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?”

Elumelu shared that he personally understood why international oil companies were partially divesting from onshore assets after criminal gangs started siphoning crude from his pipelines.

He revealed that 42,000 barrels of crude are pumped daily, but theft still accounts for roughly 18 percent of the production from his field.

Source: Legit.ng