• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, June 28, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Oil Theft: Panel Submits Report, Cites Poor Metering System, Unworkable Security Arrangement

by Leadership News
2 years ago
in News
Oil Theft
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

The Special Investigative Panel on Oil Theft and Losses in Nigeria, has submitted its report to the National Security Adviser (NSA), Maj.-Gen. Babagana Monguno (retired), on Monday, March 27, 2023.

The panel attributed oil losses to the absence of a robust industry-wide metering system and an unworkable security arrangement in the sector.

According to a statement signed by Mr Zakari Usman, Head, Strategic Communication, Office of the National Security Adviser (ONSA), the  chairman of the investigative panel, Maj.-Gen. Barry Ndiomu (retired) called for quick implementation of the report, adding that if the government implements the recommendations in the report, oil theft/losses would be adequately addressed.

Ndiomu 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 investments (FDIs) and serve Nigeria’s economic and national security concerns.

RELATED

Celebrating Bukola Saraki@ 61

Defections: ‘The Worst Yet To Happen,They Can Leave, We Are Rebuilding PDP’, Says Saraki

46 minutes ago
Periwinkle Empire Tackles Insecurity, Power Outages, Others In Lagos

Periwinkle Empire Tackles Insecurity, Power Outages, Others In Lagos

1 hour ago

The statement made available to journalists on Tuesday in Abuja, said 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.

LEADERSHIP had reported that the 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 statement also noted that the panel in discharging its responsibility received and reviewed several memoranda and reports on oil theft and losses.

The statement added that the panel during the assignment “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 wasalso cited as being responsible for making the detection of theft/losses difficult.”

NSA Monguno while receiving the report 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.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


SendShareTweetShare
Previous Post

FIFA U-20 World Cup Draw Cancelled Amid Growing Opposition To Israel’s Participation

Next Post

JUST-IN: Again, Fire Razes Lagos Market, Destroys Multi-billion Naira Goods, Properties

Leadership News

Leadership News

You May Like

Celebrating Bukola Saraki@ 61
News

Defections: ‘The Worst Yet To Happen,They Can Leave, We Are Rebuilding PDP’, Says Saraki

2025/06/28
Periwinkle Empire Tackles Insecurity, Power Outages, Others In Lagos
News

Periwinkle Empire Tackles Insecurity, Power Outages, Others In Lagos

2025/06/28
Diadem Group CEO Olaitan Gbenga Honoured In Zambia
Business

Diadem Group CEO Olaitan Gbenga Honoured In Zambia

2025/06/28
Lagos Nightclubs: From Party Spots To Crime Hotbeds
Feature

Lagos Nightclubs: From Party Spots To Crime Hotbeds

2025/06/28
Ghanaian-based Filmmaker To Premiere ‘Badagry’ In Benin
Entertainment

Ghanaian-based Filmmaker To Premiere ‘Badagry’ In Benin

2025/06/28
Disrespecting Music Legends Could Threaten Afrobeats’ Future – Terry G
Entertainment

Disrespecting Music Legends Could Threaten Afrobeats’ Future – Terry G

2025/06/28
Leadership Conference advertisement

LATEST

Defections: ‘The Worst Yet To Happen,They Can Leave, We Are Rebuilding PDP’, Says Saraki

Periwinkle Empire Tackles Insecurity, Power Outages, Others In Lagos

Diadem Group CEO Olaitan Gbenga Honoured In Zambia

African U18/U20 Athletics Championships: 5 Team Nigeria Starlets To Watch

President Federation Cup: Danjuma Confident Of Nasarawa Amazons Victory Against Rivers Angels

WAFCON 2024: Waldrum Tips Super Falcons To Win 10th Title

Brighton Sign Super Falcons Goalkeeper Nnadozie From Paris FC

Brentford Appoint Andrews As New Head Coach

NPFL: Rangers In Talks To Sign Inter Lagos Defender Samson

Wimbledon Open: Raducanu To Face Teenager Xu In First Round

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.