Naval Forces Successfully Intercept N8.6 Billion Worth Of Stolen Crude Oil

Naval Forces Successfully Intercept N8.6 Billion Worth Of Stolen Crude Oil....KINDLY READ THE FULL STORY HERE▶

Between January and February 2024, the Nigerian Navy conducted successful operations in the Niger Delta region, resulting in the apprehension and retrieval of stolen crude oil from various criminal groups operating in the area.

During these operations, the Navy recovered a total of 60,815.77 barrels of crude oil, equivalent to approximately $5.218 million (N8.12 billion). Additionally, 557,580 liters of illegally refined Automatic Gas Oil (AGO) valued at N497 million, Dual-Purpose Kerosene (DPK) worth N5.5 million, and 9,000 liters of Premium Motor Spirit (PMS) with a value of N5.490 million were also seized.

Rear Admiral AO Ayo-Vaughan, the Director of Information of the Nigerian Navy, emphasized in a statement that these interventions prevented the oil thieves from benefiting by approximately N8.6 billion. This substantial amount could have been utilized for activities posing a threat to national security and prosperity.

Providing further details on the arrests made during this period, Admiral Ayo-Vaughan disclosed that 51 wooden boats were seized. Additionally, the Navy destroyed 105 illegal refining ovens, 85 reservoirs, and 288 dugout pits. Furthermore, 41 Illegal Refining Sites (IRS) and three fiber boats were eradicated as part of the successful operations.

The proactive measures undertaken by the Nigerian Navy underscore their commitment to curbing illegal activities in the Niger Delta, safeguarding valuable resources, and maintaining national security.

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