ONSA: Gen Monguno Receives Report on Oil Theft, Losses from Investigative Panel

ONSA: Gen Monguno Receives Report on Oil Theft, Losses from Investigative Panel

The Special Investigative Panel on Oil Theft/Losses in Nigeria submitted its report to the National Security Adviser (NSA), retired Maj.-Gen. Babagana Monguno, on Monday, March 27, 2023.
According to a statement signed by Mr Zakari Usman, Head, Strategic Communication, Office of the National Security Adviser (ONSA), and made available to journalists on Tuesday in Abuja, the panel engaged key stakeholders both within and outside the oil and gas industry, including state governments; ministries, departments and agencies; security agencies; regulatory agencies; international and indigenous oil companies; traditional institutions; host communities; artisanal refiners; among others.
The statement also read that, in discharging the responsibility of the panel, it received and reviewed several memoranda and reports on oil theft and losses.
During the assignment, the panel discovered several layers of involvement in the illegal theft of crude oil despite the best efforts of the Armed Forces and other security agencies to combat the activities of the oil thieves.
The panel also observed that crude oil losses arose from a lack of proper reporting of crude oil production; illegal refining; theft from wellheads; and diversion from sophisticated pipelines network. The panel also attributed losses to the absence of a robust industry-wide metering system; and an unworkable security arrangement. The confusing roles of regulatory agencies was also cited as being responsible for making the detection of theft/losses difficult.
While submitting the report, the chairman of the investigative panel, retired Maj.-Gen. Barry Ndiomu, called for quick implementation of the report and asserted that if the government implements the recommendations in the report, oil theft/losses would be adequately addressed. He also said prompt implementation of the report would not only create an immediate impact on crude oil production levels to meet OPEC’s quota but would also attract foreign direct investment and serve Nigeria’s economic and national security concerns.
Receiving the report, NSA Monguno thanked the panel for keeping to the timeframe and for addressing the issues of oil theft and losses comprehensively. He assured that government would study the report and see to its immediate implementation, especially the recommendations with short-term perspectives.
Recall that NSA inaugurated the investigative panel on December 6, 2022, and was given 10 weeks to complete the assignment with extensive terms of reference to investigate all aspects of crude oil theft/losses in all its ramifications. The panel commenced work the same day.

By PRNigeria