Nigerian Government earmarks $1b to fight oil theft

The Federal Government of Nigeria has set aside $1 billion to prosecute a comprehensive initiative aimed at combating crude oil theft, oil and gas pipeline vandalism and prosecution of culprits in related offences.

President Goodluck Jonathan, according to a statement from his Special Adviser on Media and Publicity, Rueben Abati, made the disclosure at The Hague on Sunday.

The President, who held separate meetings with the Prime Minister of Netherlands, Mr. Mark Rutte, and the Chief Executive Officer of Shell International, Mr. Ben van Beurden, ahead of the 2014 global Nuclear Security Summit, holding on Monday, noted that a technical committee has already been set up to look into all aspects of implementation of the programme.

According to him, part of the highlights of the initiative will include further action to enhance the security of pipelines and other oil industry infrastructure; resolution of community-related issues; boost of youth empowerment in oil-producing areas as well as enhanced commitment of oil companies to the discharge of their corporate social responsibilities.

He sought the cooperation of the international community in the fight against oil theft in the country.

“Oil theft is an aspect of global terrorism, which has become a big industry on its own. It has become a major threat to the Nigerian economy and we need to work with all stakeholders to curb it. The thieves must be traced, apprehended and prosecuted,” the statement quoted the President as saying.

The Dutch Prime Minister was quoted to have assured the President of the commitment of the Netherlands to concerted action against crude oil theft and global terrorism.

Rutte who remarked that Jonathan’s visit affirmed the strong ties between Nigeria and the Netherlands, also assured the President of the willingness of The Netherlands to collaborate more with Nigeria on environmental and security issues, particularly in the Niger Delta.

“The President’s visit is an open testimony of the strong ties between Nigeria and Netherlands. Nigeria is Netherlands’ main trading partner in Africa and the Netherlands is the second biggest European investor in Nigeria,” the Dutch Prime Minister said.