SEO Riders:
- – NNPC CEO says international syndicates behind crude theft—calls for continental security response
- – Pipeline receipts now near 100% following joint operations with defense and intelligence agencies
- – Stabilized oil flows could boost Nigeria’s output to over 2.5 million bpd, reviving investor confidence
At the opening of the Africa Chiefs of Defence Staff Summit in Abuja, NNPC Group CEO Bayo Ojulari warned that crude oil theft in Nigeria is not merely a local issue but a transnational crime, orchestrated by sophisticated international syndicates exploiting gaps in the continent’s security architecture. He highlighted a major turnaround, stating that pipeline and terminal receipts—once as low as 20–30% due to theft—are now approaching 100%, thanks to strengthened collaboration with defense, intelligence, and private security agencies. This security enhancement has revived prospects for increased oil production, with projections now targeting over 2.5 million barrels per day—a level last seen in 2005.
