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Nigeria to spend N160b to fight oil theft, pipeline vandalism

24 March 2014, 21:36

Hague - The Federal government has earmarked N160 billion ($1 billion) for the implementation of a comprehensive programme to check crude oil theft, the vandalism of oil and gas infrastructure, reports Premium Times.

President Goodluck Jonathan revealed this during a meeting with the Prime Minister of the Netherlands, Mark Rutte and the Chief Executive Officer of Shell International, Ben van Beurden, in Netherlands.

Jonathan, who is attending the nuclear security summit along with other world leaders, said a technical committee has already been set up to look into all aspects of the implementation of the programme.

He said the decision was informed by government’s efforts to enhance the security of pipelines and other oil industry infrastructure, boost youth empowerment in oil-producing areas , resolve community-related issues, and enhance the commitment of oil companies to the discharge of their corporate social responsibilities.

Read more at Premium Times.

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