25.8 C
Lagos
Tuesday, May 17, 2022

NNPC says local fuel consumption hits 102 mln liters per day, gear up to fight smuggling, vandalism

The Nigerian National Petroleum Corporation (NNPC) on Wednesday said the daily national petroleum products consumption rose to 102 million litres in May against the assumptive level of 60 million liters daily consumption.

The Managing Director state-owned oil firm, Mele Kyari attributed the increase in domestic consumption of fuel to smuggling and vandalisation of the corporation pipelines.

He said the NNPC is in collaborative efforts with law enforcement agencies and other relevant downstream and upstream stakeholders to curb the menace of petroleum products smuggling and crude oil theft.

According to him, the NNPC  is collaborating with the Economic and Financial Crimes Commission (EFCC), Department of State Services (DSS), Nigeria Police Force, Nigeria Customs Service (NCS) and Nigeria Security and Civil Defence Corps (NSCDC).

Kyari said in a statement that President  Muhammadu Buhari has mandated the Federal Ministry of Petroleum Resources, NNPC, EFCC and all other security agencies to do everything possible to stop crude oil theft and illicit truck-out of petroleum products.

Kyari stressed that it was obvious to all that the volume of petrol was not consumed by Nigerians alone.

READ ALSO: Nigeria raises N330.3 bln bonds at auction as yields fall across board.

“We all agree that smuggling is not a business that should be condoned because even for deregulated petroleum products, it brings extra cost burden on this country both in terms of safety and security of supply and in securing of foreign exchange.

“It even constitutes more burden to this country when the product involved is a regulated product like Premium Motor Spirit,” Kyari was quoted in the statement.

The GMD explained that with the increasing price of crude oil at the global market and the OPEC+ production cuts, the country could not afford to shoulder the cost of smuggling.

“We all know that our daily consumption is not up to 60 million litres. We all know that, and that is why we have to pull it down. We will pull it down by every means necessary,” Kyari stated.

He said NNPC would emplace advanced cargo declaration in line with global best practices to tackle the issue of crude oil theft in the country.

On his part, the Executive Chairman of EFCC, Abdulrasheed Bawa, expressed the readiness of the commission to work with the NNPC to ensure that all those involved in the economic sabotage were brought to book.

Latest news
- Advertisement -spot_img
Related news