Minister Lokpobiri Explains Why Fuel Smuggling And Oil Theft Persist In Nigeria

Minister Lokpobiri Explains Why Fuel Smuggling And Oil Theft Persist In Nigeria....KINDLY READ THE FULL STORY HERE▶

Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources, has highlighted the persistent issues of fuel smuggling and pipeline vandalism, attributing these problems to fuel subsidies and outdated infrastructure…….CONTINUE READING

Speaking at the Energy and Labour Summit 2024 in Abuja, organized by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Lokpobiri explained that fuel smuggling persists because the Nigerian Petroleum Company Limited (NNPC) sells petrol below its actual landing cost. He noted, “Nigeria plays a crucial role in Africa’s energy security. Therefore, any petrol imported into Nigeria ends up across West Africa, making it difficult to stop smuggling. If NNPC sells PMS to marketers at around N600 or less, smuggling is inevitable.”

Addressing pipeline vandalism and oil theft, Lokpobiri cited the outdated and corroded state of Nigeria’s crude oil pipelines, which makes them vulnerable to criminal activities. He remarked, “Pipeline vandalism is rampant because the pipelines are old and completely corroded, making them easy targets. While there are more advanced and costly technologies available, we need to update our infrastructure.”

Lokpobiri emphasized the importance of public-private partnerships (PPP) to modernize the country’s pipeline system. “We need to adopt a global model through PPP to involve the private sector in upgrading our infrastructure,” he said.

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