Nigerian Navy Tuesday told the Senate Committee on Navy that the nation currently loses about 100, 000 barrels of crude oil daily at the estimated cost of N1.18 billion,amounting to N433.62 billion a year.
Chief of Naval Staff, Rear Admiral Usman Jibrin, who was represented by the Chief of Logistics, Rear Admiral Peter Agba said the information was obtained through Chatham House’s recent disclosure.
This figure contradicted the Ministry of Finance recent claim that Nigeria was losing 400, 000 barrels of crude oil per day despite President Goodluck Jonathan’s award of multi – billion dollar contracts to some private security outfits in Niger Delta to secure the waterways.
The Naval chief lamented that the Navy submitted the sum of N205.4 billion for its capital projects in 2014 but that the Federal Ministry of Finance reduced it to N8bn.
He said “The proposed capital projects for 2015 (captured in the initial N205.4 billion) include the ongoing acquisition of two OPVs, acquisition of patrol crafts and helicopters, procurement of arms and development of vital support infrastructure. The equipment are needed to improve naval operations and the welfare of personnel.”
Jibrin noted that the despite reduction in her budget, the Navy has successfully destroyed 120 illegal oil refineries, 29 barges, 93 boats and 1, 259 auxiliary equipment and tools used by the oil thieves.
He said this “deterred criminal activities in the water ways and helped in no small measure in providing the enabling environment for the continued exploration and exploitation of the nation’s oil and gas resources.”
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