A non-partisan advocacy group, Ayudantes Empowerment Initiatives, has lauded moves by the Chief of Defence Staff (CDS), General Christopher Musa, to combat oil theft and increase oil production to 2.1 million barrels per day.
The group also said recent report by Organisation of Petroleum Exporting Countries (OPEC) which revealed an increment in oil production in Nigeria can be attributed to ongoing military operations across the Niger-Delta.
Addressing a press conference in Abuja on Friday, the Executive Director of Ayudantes Empowerment Initiatives, Amechi Chuks Oyema, also lauded the mandate by CDS to the Services to ensure there is an improvement in crude oil production.
The statement read: “We are aware that the country has been plagued by a persistent problem of oil theft. This illegal activity has had severe consequences on the Nigerian economy, hindering growth, fostering corruption, and depriving the nation of much-needed resources for development
“For instance, oil theft directly impacts the quantity of foreign exchange accumulated in an oil-producing economy, which has a knock-on effect on the balance of payments (creating a deficit) and cost of debt service (which rises), thereby crowing out businesses from the financial market.
“Economic impacts of oil spills generally include cost of clean-up and compensation, damage to agricultural lands, fishery and wildlife. Social impact on the other hand includes community conflicts, violence and frustration which leads to militancy, reduction in tourism and hospitality industries.
“It is against this background that in July this year, President Bola Tinubu alarmed by the effect of crude oil theft on the national economy summoned helmsmen of the security agencies for a meeting in the Villa.
“After the meeting, the Chief of Defence Staff, Gen. Chris Gwabin Musa said the military is taking steps to crack down on crude oil thieves affirming that their days are numbered.
“He also assured Nigerians that the military will play its part in ensuring that the country meets its crude oil production target of 2.1 million barrels per day.
“After the meeting, the Security chiefs with leadership of the CDS harmonised their strategies toward clearing the Niger Delta of crude oil thieves, pipeline vandals and other criminal elements fleecing the country.
“The CDS followed it up with a stakeholders meeting in Port Harcourt. We are here today to assess if the Armed forces under Gen. Musa has kept their promises.
“Our assessment took us to speak to different sources related to the oil industry. We got their view on present state of affairs.
“Ayudantes Empowerment Initiatives is very happy with the recent mandate by the Chief of Defence Staff (CDS) for the Army, the Air Force and the Navy mandate to ensure there is an improvement in crude oil production from 1.35 million barrels per day, to 2.2 million barrels by December 2024.
“We are here to inform Nigerians that the July directive by the CDS is already yielding results.
“Recent OPEC reports say there is an increment in oil production in Nigeria. This group attributes it to ongoing military operations across the Niger-Delta.
“According to the report, “Nigeria’s average daily crude oil production rose by 3.4% to 1.352 million barrels in August according to the latest data published by OPEC.
“The Organisation of Petroleum Exporting Countries (OPEC) in its monthly oil market report for August reports that Nigeria’s crude oil production increased by 45 thousand barrels from 1.307 million barrels in July daily to the current figure.
“This is the eyes of the ordinary person may not be much, but it is a significant shift. Rather than going down, it is now coming up.
“We therefore appeal to residents of the oil producing areas to support our military in this operations, which will positively affect our economy.
“We urge the CDS and his team to keep up the good works. Nigerians are looking up to them.”
