Tantita: Group Says Court Ruling Beneficial To Nigeria’s Economy

The Ethnic Youth Leaders’ Council of Nigeria (EYLCN) has commended the Federal Capital Territory High Court for refusing to halt the renewal of Tantita Security Services Nigeria Ltd’s pipeline surveillance contract, describing the decision as beneficial to Nigeria’s economy and national security.

Speaking to journalists in Abuja on Wednesday, the group’s National Coordinator, Meliga Godwin, said the ruling reaffirmed the strategic importance of Tantita’s role in safeguarding the country’s oil infrastructure.

He warned that any attempt to split or fragment the contract could reverse gains already recorded in curbing crude oil theft and stabilising the Niger Delta.

According to him, Nigeria suffered significant losses before Tantita’s engagement, with crude oil theft estimated at about 250,000 barrels per day, costing the country billions of dollars in lost revenue.

Godwin noted that between January and September 2021, Nigeria reportedly lost over $4 billion to oil theft, while production dropped to around 900,000 barrels per day.

He, however, stated that since Tantita assumed pipeline surveillance operations, oil theft has reduced considerably, production has rebounded to nearly two million barrels per day, and investor confidence has improved.

The group added that the company’s activities have also helped reduce insecurity, limit environmental damage caused by illegal refining, and create employment opportunities for youths in oil-producing communities.

EYLCN further praised the National Assembly of Nigeria for recommending that Tantita be designated a company of strategic national interest, describing the move as recognition of its growing importance to the nation’s economy.

Godwin urged the Federal Government to renew the contract without delay and resist calls to divide it among multiple operators.

He also commended key figures in the company’s leadership, including Managing Director Kestin Pondi, Vice Chairman Matthew Tonlagha, and Government Ekpemupolo, popularly known as Tompolo, for their contributions to national development.

The group called for national honours to be conferred on the company’s leaders, citing their role in strengthening the economy, improving security, and creating wealth for Nigerians.