The Nigerian Navy intercepted a wooden boat carrying about 100,000 litres of stolen crude oil along the Idiogba-Mahin coastline in Ilaje Local Government Area of Ondo State.
The operation was carried out by the Forward Operating Base (FOB) in Igbokoda.
Capt. Aliyu Usman, the FOB’s Commanding Officer, disclosed this during an assessment visit to the site on Thursday, as reported by the News Agency of Nigeria (NAN).
He revealed that the operation followed credible intelligence, prompting the deployment of the base’s Quick Response Team.
“The team intercepted a large wooden boat laden with about 100,000 litres of stolen crude oil, alongside associated accessories such as discharge hoses and pumping machines,” Usman said.
He noted that the perpetrators fled upon sighting the Naval team, abandoning the boat and its equipment.
The Navy secured the recovered vessel and its contents, taking a sample of the crude oil for laboratory analysis.
Usman emphasized that the Navy followed established protocols in handling the intercepted items.
Additionally, the News Agency of Nigeria (NAN) reported that the Navy engaged with community residents, raising awareness about the environmental and security risks associated with supporting illegal bunkering activities.
What you should know
Oil theft remains a critical challenge for Nigeria, undermining revenue generation and economic stability.
- In 2022, the country lost an estimated 437,000 barrels of crude oil daily to criminal activities, equating to a staggering $23 million in daily revenue losses.
- The situation persisted into 2023, with Nigeria losing 65.7 million barrels of crude oil in March alone. At an average price of $83 per barrel at the time, this amounted to a revenue shortfall of N2.3 trillion.
- Beyond its impact on government revenue, oil theft disrupts operations for International Oil Companies (IOCs) and other stakeholders in the oil and gas sector.
- To address the issue, the Nigerian military intensified anti-theft operations through initiatives such as Operation Delta Safe and Operation Dakartada Barawo.
- These efforts, carried out in collaboration with state and local governments, security agencies, and IOCs, have begun to yield positive results.
In August 2024, Nigeria’s Chief of Naval Staff, Emmanuel Ikechukwu Ogalla, reported that crude oil production had increased to between 1.6 million and 1.7 million barrels per day due to enhanced security measures aimed at curbing theft.
He further noted that the armed forces had successfully sealed off routes used for the sale of illegally refined petroleum products, marking a significant step forward in the fight against oil theft.
