Nigeria risks missing oil windfall as Navy uncovers 17,500 Litres of stolen crude
By Abiodun Folarin
Nigeria, Africa’s leading oil exporter, shipping approximately 2.3 million barrels of oil per day, might miss out in the oil windfall triggered by the ongoing US-Iran war, if oil theft in its creeks is not checked.
Recent operations by the Nigerian Navy in the Niger Delta revealed four dug-out pits containing 17,500 litres of suspected stolen crude oil at the Forward Operating Base (FOB) Bonny in Rivers State, underscoring how persistent theft and production disruptions continue to drain the nation’s coffers.
Without stronger enforcement and systemic reforms, Nigeria may fail to capitalize on the current oil price rally, leaving billions in potential revenue uncollected.
A statement on Friday by the Director, Naval Information, Captain Abiodun Folorunsho, said that following the directive from the Chief of the Naval Staff, Vice Admiral Idi Abbas, the Nigerian Navy has intensified its efforts under Operation DELTA SENTINEL.
The ongoing efforts to combat crude oil theft and illegal bunkering under Operation DELTA SENTINEL have begun to yield gains, as the Nigerian Navy has destroyed an illegal crude oil storage site within the Forward Operating Base (FOB) Bonny Area of Operations in Rivers State.
The naval unit, leveraging the Nigerian Navy’s maritime surveillance technology, uncovered concealed dugout pits hidden beneath thick vegetation within creeks in the Opotumbi general area. FOB Bonny elements moved swiftly to the site and discovered four dug-out pits containing a cumulative 17,500 litres of products suspected to be stolen crude oil. The recovered products were subsequently destroyed in accordance with extant operational guidelines.
This move demonstrates the Nigerian Navy’s renewed momentum in combating crude oil theft and maritime crimes, emphasizing continuous patrols, enhanced surveillance, and inter-agency collaboration to protect critical national assets and Nigeria’s economic interests in the country’s maritime environment.
