Abuja - Nigeria Extractive Industries Transparency Initiative
(NEITI) said it would rework strategies aimed at curbing oil theft.
This was revealed in a press statement the agency
released from Abuja.
“The Chairman of NEITI, Ledum Mittee unveiled NEITI’s
next target at a Meeting on NEITI and its activities with the Political and
Economic Counsellors of the European Union member countries.
"He explained that
absence of reliable baseline information and data on the actual quantity of
crude either lost through theft, bunkering or pipeline vandalisation is
responsible for the poor response and speculations over facts and figures
required to deal with these complex problem,” the statement read.
It added that understanding of the quantity of crude oil
either lost through vandalisation will help draw national and international
attention to the urgent need for solutions. “Full disclosure and public
understanding of the quantity of crude oil either lost through vandalisation,
bunkering or outright stealing and the enormous cost to the economy in
financial terms will help draw national and international attention to the
urgent need for solutions.”
The NEITI chairman added that his organisation hoped to
include as part of its independent audit template to capture the quantity of
crude stolen, quantity lost through bunkering and others through vandalisation
By such an exercise, it would be easier to quantify the
loss and provide information publicly to raise the public consciousness.
Mittee disclosed that NEITI’s target was to transit its
activities from mere focusing on transparency through accountability to
ensuring measurable impact arising from its operations with a view to ensuring
that oil and gas revenues translate to good roads, electricity, water,
employment opportunities and poverty reduction.
– CAJ News