FG: 7.68m Barrels of Oil Stolen/Lost in 2023

The Federal Government says that 7.68 million crude oil barrels were either stolen or lost in 2023, urging Civil Society Organisations (CSOs) to focus on significant findings for environmental protections.

Dr. Orji Ogbonnaya Orji, Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), said this at a CSOs Roundtable in Abuja on Thursday.

The programme was organised by the NEITI in partnership with Rule of Law and Anti-Corruption (RoLAC).

According to a report by Senior Analysts Team, Orji said there was a 79 per cent drop in the crude oil theft in 2023 compared to 2022.

According to him, I urge this roundtable to focus on the significant findings in the recently released NEITI 2022/2023 Oil and Gas Industry Reports, where several critical issues call for civil society engagement.

“CSOs should monitor the government’s strategies to combat oil theft and advocate for more robust environmental protections.

” The civil societies have a crucial role in creating forums that include government, private sectors and community groups.

” This is to ensure that the concerns of impacted communities, particularly regarding environmental and social issues are considered in national resource management policies,” he said.

Orji said that CSOs must push for improved revenue collection mechanisms to ensure full value of Nigeria’s oil resources benefits the nation.

He also urged the CSOs to use the report’s environmental data to advocate stronger protections and corporate accountability, particularly in Niger Delta.

He said the CSOs have a crucial role in ensuring that Nigeria’s wealth from natural resources were managed to benefit all citizens, not just a select few.

He said that the CSOs could identify gaps in governance, revenue management and environmental protection in analysing advocacy for policy reform.

“Their issue-based advocacy helps push for legislative reforms that address these challenges.

“A key priority is to ensure that NEITI’s reports, particularly the 2022/2023 Oil and Gas Industry Reports, are used constructively to promote public debate and policy reform.

“While NEITI publishes the reports, it is the duty of civil society to ensure that the data leads to action,” he said.

The executive secretary said that the roundtable was put together to ensure that transparency and accountability lead to tangible policy changes and public welfare improvements.

He said that the NEITI would soon complete its data centre, which would serve as a one-stop shop for extractive sector information, housing all industry reports from 1999-2004 onwards.

“This centre will facilitate public access to data and analysis, enhancing NEITI’s compliance with the EITI Open Data Protocol,” he said.

Orji called on the CSOs to collaborate actively with both urban and rural people to help them share resources and strategies to ensure the voices of all Nigerians were heard.

“The future of Nigeria’s extractive industries depends on the active engagement of civil society.

“With the 2022/2023 NEITI reports providing a roadmap, we stand at a critical juncture.

“Let us seize this opportunity to empower CSOs urban and rural alike to drive the change we seek.”

Dr. Erisa Sarki, CSO Representative on the NEITI Board, said that the forum was designed to encourage open dialogue, innovative thinking and actionable steps.

Sarki said that the actionable steps aligned with NEITI’s vision of a Nigeria where extractive resources would benefit all citizens.

 

 

 

Hot this week

Stanbic IBTC Bank PMI: Strongest Growth of Output Since February 2022

September data signalled strengthening growth momentum in Nigeria's private...

Stanbic IBTC’s AAA (nga) Rating, Unbroken for a Decade, Reaffirmed by Fitch

Stanbic IBTC has been reaffirmed at 'AAA (nga)' by...

A&G Pitches 5-Point ‘Extra Mile’ CSW 2026 Strategy to Brokers Driven by Recapitalisation Strength

Alliance & General Insurance Plc has initiated a strategic...

Recapitalisation: The Road to Strong Capital Adequacy, Growth for Insurance Industry

The recent conclusion of the recapitalisation exercise in the...

AXA Mansard’s New Campaign Seeks to Deepen Insurance Penetration as Path to Economic Growth

AXA Mansard Insurance Plc has unveiled a new strategic...

Topics

NAICOM Announces Promotion of 5 Staff as Directors

The Governing Board of the National Insurance Commission, at...

DBI Boss: Govt Should Invest in ICT Skills

Dr. Ikechukwu Adinde Administrator Digital Bridge Institute Dr. Ikechukwu Adinde, Administrator of...

Nigeria’s Decade of Gas Will Support Global Energy Security – NLNG MD

(L-R) Nnamdi Anowi, GM, Production; Ms. Kadri Simson, EU...

‘Africa Must Close Science & Tech Gap to Take Advantage of AfCFTA’

H.E. Professor Ameenah Gurib-Fakim, the former President of Mauritius...

The Founder Effect: How Long-Term Industrial Builders Create Enduring Shareholder Value

    By DAVID OPUTAH Capital markets have an interesting way of...

Desmond Mathew Wins 8th Edition of Sovereign Trust Insurance Open Golf Tournament

Desmond Mathew, winner of the 8th edition of the Sovereign...

Stanbic IBTC Capital: Best Investment Bank in Nigeria-EMEA Awards 2022

Stanbic IBTC Capital, the investment banking subsidiary of Stanbic...

NAICOM Chief: The Future of Nigeria Depends on How We Manage Risks

Keynote Address by Mr. Olusegun Ayo Omosehin, Commissioner for...