Ogoni Oil: Nigeria Has Lost over $226.73bn In 32 Years, Says Firm

A pipeline surveillance firm, Pipeline Infrastructure Nigeria Limited (PINL), has said available data shows that Nigeria has lost over $226.734 billion due to the suspension of crude oil production from 96 oil wells in Ogoni land over the past 32 years.

The Ogoni oil wells, located within Oil Mining Lease (OML) 11 and capable of producing 500,000 barrels per day, have been inactive since 1993.

PINL’s general manager, Community and Government Relations, Dr.Akpos Mezeh, spoke yesterday at the company’s monthly stakeholders’ engagement in Port Harcourt, the Rivers State capital.

Mezeh described the planned resumption of crude oil production in Ogoniland as a major national priority that demands the collective attention of all stakeholders.

“A major national priority that demands our collective attention is the resumption of crude oil production in Ogoni land, targeting approximately over 500,000 potential barrels per day from OML 11, which has remained inactive since 1993. This development is not only strategic; it is long overdue.

“Available data shows that over $226.734 billion has been lost due to the suspension of crude oil production from 96 oil wells in Ogoni land over the past 32 years. This clearly underscores both the economic cost of inaction and the immense opportunity that lies ahead.

“However, let me emphasise that the path to resumption must be guided by inclusive community participation. The Ogoni people must be fully involved as critical stakeholders in all decisions,” he said.

The general manager stated that the collaborative efforts of stakeholders, including communities, have significantly reduced pipeline vandalism in the eastern corridor of the Trans Niger Pipeline (TNP).

In his goodwill message, former chairman of the Rivers State Traditional Rulers’ Council, King Sergeant Awuse, called on the federal government to ensure that the people of Ogoni are carried along in every move to resume crude oil production in their land.