Nigerian govt should release names of those behind crude theft – Elumelu

Nigerian billionaire businessman, Tony Elumelu has said the Nigerian government and security operatives should tell Nigerians those who steal the country’s crude oil.

Elumelu, who doubles as Chairman of Heirs Holdings stated this in an interview published by the Financial Times on Friday.

According to him, of 42,000 barrels of daily crude production, 18 percent is stolen.

“42,000 barrels of crude pumped out daily. Theft still takes away about 18 percent of production, he stated.

Asked who is behind the theft, he replied, “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?”

His statement comes amid the untamed menace of crude oil theft in Nigeria.

Nigerian National Petroleum Company Limited in June 2024 said it uncovered an additional 165 illegal refineries in various locations across the Niger Delta.

The development comes amid the crude supply crisis, facing the 650,000 barrels per day Dangote Refinery.