Elumelu has called on the Nigerian government to disclose the names of individuals involved in crude theft, demanding transparency and accountability to address the issue effectively.
Tony Elumelu, a billionaire entrepreneur from Nigeria, has called on the Nigerian authorities and security forces to reveal the identities of individuals responsible for stealing their oil reserves.
On Friday, Elumelu, who simultaneously acts as the Chairman of Heirs Holdings was quoted in an interview featured by the Financial Times.
He stated that out of the daily production of 42,000 barrels of crude, 18 percent is being stolen.
According to him, despite a daily production of 42,000 barrels of crude oil being pumped out, theft still manages to strip away approximately 18% of the output.
When asked about the identity of those responsible for the theft, he explained that it was not comparable to stealing a small item. As oil theft is ongoing, he urged authorities to inform citizens and referenced how quickly information regarding an attack on Donald Trump in America became public knowledge. He suggested security agencies should identify who enters their territorial waters without permission.
Amidst the rampant danger of crude oil theft in Nigeria, he made his statement.
In June 2024, the Nigerian National Petroleum Company Limited announced that it had discovered an extra165 unauthorized refineries situated in different regions throughout the Niger Delta.
The development arises against the backdrop of crude supply challenges confronting Dangote Refinery, which processes 650,000 barrels per day.
