Heirs Oil and Gas is losing 50,000 barrels of crude oil to thieves every day, Heirs Holdings Chairman Tony Elumelu claimed yesterday.
Elumelu raised the alarm yesterday in Abuja when he delivered a lecture on “Strategic leadership: My business experience”. The lecture was organised for Course 30 of the National Defence College.
Describing oil theft in the Niger Delta as a national challenge, Elumelu said: “We produce sometimes about 87,000 barrels per day, thieves take 50,000 per day and to me, this requires a national seminar or dialogue.
In my view it is one of the highest levels of threat to our country because it’s so much money in the hands of people who don’t pay tax, people we don’t regulate, the country is not safe. They do that to us; they do that to other operators also.”
According to him, Nigeria lost over $4 billion to oil thieves in the last three quarters of last year. He lamented that those involved in theft use the money realised from the oil heist to acquire more lethal ammunition, thereby posing threat to Nigeria’s corporate existence.
Nation Online