Nigerian Billionaire Tony Elumelu Demands Government Transparency on Oil Theft
Nigerian billionaire Tony Elumelu has called on the Nigerian government and security agencies to disclose the identities of those responsible for stealing the country’s crude oil. Elumelu, who is also the Chairman of Heirs Holdings, made this statement in an interview featured in the Financial Times on Friday.
Elumelu highlighted the severity of the situation, noting that out of Nigeria’s daily production of 42,000 barrels of crude oil, approximately 18 percent is stolen.
When questioned about the perpetrators, Elumelu emphasized the scale of the problem, stating, “This isn’t just about someone pocketing a bottle of Coke. The government should be aware of who is behind this theft and should inform the public. In the United States, even when a high-profile incident occurs, authorities quickly identify those involved. Our security forces should provide similar transparency about who is pilfering our oil. How is it possible for vessels to operate in our waters without our knowledge?”
Elumelu’s comments come amid ongoing issues with crude oil theft in Nigeria. In June 2024, the Nigerian National Petroleum Company Limited revealed it had discovered an additional 165 illegal refineries scattered throughout the Niger Delta. This discovery comes at a time when the country is grappling with a crude supply shortage affecting the 650,000 barrels per day Dangote Refinery.
Add comment