A public affairs analyst, Comrade Ovasa Ogaga, has said that in a remarkable turn of events, Nigeria has witnessed a significant upturn in its battle against crude oil theft, thanks to the efforts of the security firm in-charge of securing the crude oil pipelines in the Niger-Delta region, Tantita Security Service Nigeria Ltd and its affiliate agencies.
Ogaga, who stated this in an opinion article published at the weekend, said, After years of struggling with organised syndicates of oil thieves, Nigeria’s crude oil production is on the rise again, and this success story is poised to have far-reaching positive effects on the nation’s economy.
For many years, Nigeria’s vast crude oil reserves have been plundered by criminal networks, both local and international. This grave economic crime has deprived the nation of its rightful wealth and eroded its fiscal and monetary base. The consequences were dire, including production outages, disruptions, and even the country’s inability to meet its OPEC quota.
However, the tide began to turn when Tantita Security Service Nigeria Limited was awarded a multi-billion-naira pipeline surveillance contract in August 2022. Since then, their efforts have yielded impressive results. Daily crude oil production, which had fallen to an alarming low of approximately 1.1 million barrels per day in 2022, has rebounded to over 1.47 million barrels per day in August 2023. This remarkable increase of over 300,000 barrels per day signifies a substantial improvement in Nigeria’s oil production.
According to him, the impact of Tantita’s security measures goes beyond production figures, saying, They have effectively curtailed the activities of crude oil thieves who previously had unfettered access to the nation’s oil reserves. Over 68 vessels engaged in crude oil theft have been apprehended, and 638 illegal refineries out of 763 have been dismantled. This robust action has disrupted the illicit activities of oil thieves and safeguarded Nigeria’s precious oil resources.
One of the most astonishing revelations was the discovery of a trunk pipeline connected to the Forcados export crude oil terminal, which had remained undetected for over a decade. This discovery, along with the interception of an 800,000-litre capacity vessel loaded with stolen crude oil, has showcased the dedication and effectiveness of Tantita Security Service Nigeria Limited in safeguarding Nigeria’s oil assets.
The significance of these achievements cannot be overstated. Nigeria’s economy heavily relies on crude oil exports, and any disruption in this sector has wide-ranging implications, including fiscal allocations to federating states. The losses incurred due to oil theft were staggering, amounting to approximately $24.55 billion in revenue loss to the Nigerian State”.
Ogaga, who wrote from Asaba, Delta State, stated: “In light of these remarkable results, it is imperative that President Tinubu considers renewing the contract of Tantita Security Service Nigeria Limited and its affiliate agencies. Sustaining and building upon this progress is crucial for Nigeria’s economic resurgence.
