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FG Should Release Names Of Those Behind Crude Theft- Elumelu

Nigerian billionaire Tony Elumelu has urged the government and security agencies to reveal those responsible for stealing the country’s crude oil.

Elumelu, who is also the Chairman of Heirs Holdings, shared this in a Friday interview with the Financial Times, noting that 18 percent of the 42,000 barrels produced daily is stolen.

“42,000 barrels of crude pumped out daily. Theft still takes away about 18 percent of production, he stated.

Asked who is behind the theft, he replied, “This is oil theft, we’re not talking about stealing a bottle of coke you can put in your pocket. The government should know, they should tell us. Look at America — Donald Trump was shot at and quickly they knew the background of who shot him. Our security agencies should tell us who is stealing our oil. You bring vessels to our territorial waters and we don’t know?”

His statement comes as Nigeria continues to grapple with the unchecked problem of crude oil theft. In June 2024, the Nigerian National Petroleum Company Limited revealed the discovery of 165 more illegal refineries scattered across the Niger Delta.

This development coincides with the crude supply crisis impacting the 650,000 barrels-per-day Dangote Refinery.

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