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

NAICOM, NCAA Ink MoU on Aviation Insurance, Safety, Growth

REMARKS BY THE COMMISSIONER FOR INSURANCE/CEO, NATIONAL INSURANCE COMMISSION...

NAICOM Partners ISSP to Advance Insurance Penetration, Financial Inclusion

From left: Mr. Victor Inedu, Special Assistant to the...

NLNG: Mary-Brenda Akoda Wins 2026 NPSI for GenScan AI, Becoming First Millennial Individual Winner

Dr. Sophia Horsfall (middle), External Relations and Sustainable Development,...

CBN Strengthens Supervisory Focus on Terrorism Financing Risk

 The Central Bank of Nigeria (CBN) has elevated terrorism...

Stanbic IBTC Drives Nigeria–China Collaboration for Sustainable Growth at Business Without Borders

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings,...

Topics

Profit Taking in Bellwethers Drag Benchmark Index… ASI down 15bps

In yesterday’s trading session, profit taking in bellwethers - GUARANTY (-2.6%), ACCESS (-6.3%)...

Tinubu Appoints Board of Nigerian Consumer Credit Corporation

To further expedite the process of expanding consumer credit...

NIA Plans Greater Contribution of Insurance to Economy

The Nigerian Insurers Association (NIA) says it is working...

Rhapsody of Realities Hits 7,000 Languages, Hosts #ReachOutWorldLive

At a global programme tagged REACHOUT WORLD LIVE WITH...

NCDMB ES, SPDC Officials Visit Brightwaters Energy, Laud firm’s Capabilities for Industry Projects

Executive Secretary NCDMB, Engr. Felix Omatsola Ogbe leading top...

Jeremy Awori, CEO of Ecobank Group Rings Closing Gong at NGX

(L-R) Bunmi Bajomo, Head, Group Corporate Bank, Ecobank Transnational...

Anchor Insurance MD, Austin Ebose, Bags Insurance CEO of the Year Award

Augustine Ebose Managing Director/CEO Anchor Insurance Company Limited The Managing Director, Anchor...

NCC Director, Yakubu Gontor Honoured by Northern Youth Organisation

From right: Yakubu Gontor, Director, Financial Services, Nigerian Communications Commission...