• Oil & Gas - News
  • Updated: March 12, 2024

NNPC seeks EFCC support in tackling crude oil theft

NNPC seeks EFCC support in tackling crude oil theft

The Nigerian National Petroleum Company Limited (NNPCL) has approached the Economic and Financial Crimes Commission (EFCC) for assistance in tackling crude oil theft, stressing its adverse impact on oil sector investment.

The Group Chief Executive Officer of NNPCL, Mele Kyari, urged for the EFCC's support in combating the menace during a meeting at the NNPC Towers in Abuja on Monday.

The appeal comes amidst heightened concerns over corruption, crude oil theft, and pipeline vandalism plaguing the industry.

In a statement by NNPC spokesperson Olufemi Soneye, Kyari emphasised the company's relentless efforts to eradicate corruption and address the rampant theft of crude oil and vandalism of pipelines.

He highlighted the urgent need for concerted action to curtail these illegal activities, which undermine national resources and deter potential investors.

Kyari underscored the magnitude of the challenge posed by crude oil theft, citing the deactivation of thousands of illegal refineries and the disconnection of numerous illegal pipeline connections in the Niger Delta region.

He stressed the need for collaborative efforts to tackle the root causes of these crimes, calling on EFCC to play a pivotal role in curbing economic sabotage.

Furthermore, Kyari emphasised NNPC Ltd.'s commitment to upholding high ethical standards and implementing stringent measures to prevent corrupt practices within the organisation.

He highlighted the company's adoption of automated systems and processes to minimise discretionary actions that could facilitate corruption.

Responding to Kyari's remarks, EFCC Executive Chairman Ola Olukoyede, commended NNPC Ltd.'s dedication to promoting ethics and adherence to regulatory frameworks.

However, he urged the company's management to complement these efforts with robust monitoring and enforcement mechanisms to enhance deterrence against corruption and economic crimes.

The collaboration between the NNPC and EFCC underscores the importance of collective action in safeguarding Nigeria's oil assets and fostering transparency and integrity within the petroleum industry.

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