oil-theft-360x218The Federal Government has begun holding a weekly meeting with stakeholders in the oil and gas industry with a view to devising holistic approach to stop oil theft and pipeline vandalism.

Speaking yesterday when the House of Representatives Committee on Upstream Petroleum led by its chairman, Muraina Ajibola, paid a working visit to the Nigerian National Petroleum Corporation (NNPC), in Abuja, the Group Managing Director of the Nigerian oil giant, Andrew Yakubu, said the meeting in conjunction with other strategies put in place by President Goodluck Jonathan, have resulted in the reduction of oil theft in the country.

He said: “I can tell you that the report I got from the stakeholders in the industry as at yesterday (Wednesday) is that oil theft and pipeline vandalism have reduced dramatically. Government has put in a lot of strategies to stem this ugly trend. We now organise weekly meetings with stakeholders with a view to stemming the tide under the watch of the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.”

Ajibola, who lauded the achievements of the NNPC, said the challenges confronting the oil sector could indeed be overcome if the executive implement the recommendations proffered by the House.


Information from The Guardian was used in this report.