Expose thieves, criminal gangs stealing Nigerian oil, Elemelu tells FG

He challenged him in an interview published by the Financial Times.

He noted that this development is causing international oil companies to withdraw from the country.

Pointblanknews.com reports that many multinational oil companies that have been operating in Nigeria for decades have left the country in recent times.

Elumelu has a huge investment in the oil sector through his Heirs Holdings.

According to him, the threat of criminal gangs stealing crude oil from pipelines was responsible for the development.

“I have seen first-hand why international oil companies partially withdrew from their onshore assets after criminal gangs began stealing crude oil from my pipelines,” he said.

While he was optimistic about the situation, Elumelu said during the interview with the Financial Times: “We are pumping 42,000 barrels of crude oil a day. Theft still takes about 18 percent of the production from our field.”

He said the government must be aware and be able to expose those behind the massive oil theft in the country.

“This is oil theft, we are not talking about stealing a bottle of coke that you can put in your pocket. The government should know, they should tell us. Look at America — Donald Trump was shot and very quickly they knew the background of who shot him. Our security services should tell us who is stealing our oil. You bring ships into our territorial waters and we don’t know?”