April 16, 2024

Crude oil theft: Nigerian Navy begins “fiscalisation” process, inspects meter reading at crude oil loading terminals

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Oredola Adeola

The Nigerian Navy has revealed the plan to collaborate with the Nigerian National Petroleum Company Limited (NNPCL) on the “fiscalisation” process, which would see personnel of the navy present at offshore oil export loading terminals to physically sight the meter readings at the point of loading of crude oil to the export vessels.

Adedotun Ayo-Vaughan, the spokesperson of the Nigerian Navy, made this known in a statement released on the backdrop of the alleged misrepresentation of statement presented by Navy’s representative before the Senate panel, on NNPC’s figure on the quantity of crude oil stolen in the country.

The army spokesperson denied the report that the Navy’s representative accused the Nigerian National Petroleum Company (NNPC) Limited of disseminating exaggerated figures on oil theft in the Niger Delta.

Speaking on the proposed fiscalisation process, Ayo-Vaughan said, “For the avoidance of doubt, the Nigerian Navy under the leadership of Vice Admiral Awwal Zubairu Gambo, will continue to work with NNCPL to fashion out solutions.

“The Navy has been finding remedies to the challenges in Nigeria’s maritime environment as it concerns the oil industry for the overall good of Nigeria and indeed for all well-meaning Nigerians.

“Foremost of these mutual efforts is the planned return of the ‘fiscalisation’ process, which was stopped in the late 1980s, whereby personnel of the navy as at then, will now again, be present at offshore oil loading terminals/platform to physically sight the meter reading at the point of loading of crude oil to tankers at sea.

Ayo-Vaughan however noted that the first set of naval personnel that would commence the task has been sponsored by NNPCL and trained in the UAE and at Uyo, Akwa Ibom state.

 

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