Queue at the filing station The President, Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
Above: Osifo Below: Drums of stolen crude oil
By Favour Ajibade
Oil workers are organising rally against crude oil theft nationwide, with a view to help tackle the illicit act, which has left in its wake both economic and environmental effects on Nigeria.
The workers, under the aegis of Petroleum and Senior Natural Gas Association of Nigeria, are leveraging on the rally to drum up more supports against crude oil theft , which is having delibitating effects on the government's earnings, as well produ of crude oil.
This happens as the government recently took some measures to tackle the menace. These include engagement of security agencies to guard the pipelines, regulatory bodies and captains of industry to help tackle incidence of crude thefts through policies and among other intervention programmes.
According to the PENGASSAN's President, Comrade Festus Osifo, $1billion worth of oil is shut in on daily basis, as a result of crude theft.
While engaging journalists in Abuja, Osifo said that the union has reworked its strategy on the fight against crude oil theft, having realised it has achieved the desired goals on the issue.
He said that Nigeria barely struggled to produce just one million barrels per day out of the 1.8 million barrels per day given it by the Organisation of Petroleum Exporting Countries (OPEC).
He lamented that the country is still broke, despite the about $100 oil price per barrel for months.
He stated: " As a country, we are still burrowing to fund to our appropriations. This year alone, the government has burrowed over MY trillion to N7 trillion to finance our budget."
The PENGASSAN president said if there was no crude oil theft and Nigeria was able to produce up to 1.9 million barrels per day, there would be no need to go for external and local borrowings to the extent that the manufacturing sector could no longer borrow from the banks.
He noted that PENGASSAN could no longer fold its arms after the failure of office consultations, adding that rallies would begin nationwide across the four zones today, and they would be tagged, “Chasing Oil Thieves and Vandals Out of Business.”
The oil workers’ chief explained that it was not going to be a one-off activity, but a continuous exercise, until the government acts to stop the vandals and oil thieves.
He stated that even oil companies struggling to produce got as little as two percent of what they pump in from the other end of the terminals, resulting in only the production of water sometimes.
“So from tomorrow (today), we are going to embark on these rallies. We are going to call government to action,” he stated.
Recall that the government recently renewed the deployment of security personnel, real time monitoring of activities around the pipelines, the handling over of N4 billion monthly surveillance contract to ex- militant, Government Ekpemupolo, among other initiatives taken to check crude oil theft.
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