June 4, 2024

‘Oil production would’ve been down to 500k barrels per day if not for efforts of Tantita’

‘Oil production would’ve been down to 500k barrels per day if not for efforts of Tantita’

The Northern coalition under the auspices of Arewa Renaissance Congress has commended Tantita Security Services Nigeria Limited for its efforts in securing Nigerian oil pipelines and curbing oil theft in the Niger Delta region.

In a statement released by the coalition’s convener, Malam Abdulrazak Abdulmuminu, the group noted that if not for the intervention of private security companies like Tantita, Nigeria’s crude oil production would have plummeted to less than 500,000 barrels per day.

The coalition attributed the relative peace and improved oil production witnessed in the Niger Delta to the collaborative efforts of private security companies and state actors, such as the Nigerian security operatives. This partnership, the group said, has yielded the much-needed results, leading to a significant reduction in oil theft.

Oil theft has been a longstanding challenge in Nigeria, with the Nigerian National Petroleum Company (NNPC) Limited uncovering an illegal oil connection that had been operating for nine years, resulting in the loss of about 600,000 barrels of oil per day during the same period.

According to the Organisation of Petroleum Exporting Countries (OPEC), of which Nigeria is a member, the country loses an estimated 2.3 million barrels of crude oil monthly, amounting to over $1 billion every three months.

The Arewa Renaissance Congress convener, Abdulrazak, called on the Nigerian government, under the leadership of President Bola Ahmed Tinubu, to prosecute those involved in oil theft and bunkering activities. The coalition also urged the government to provide more support to private security firms like Tantita, as their efforts are crucial in improving Nigeria’s oil production.

“Without the efforts of these private security firms, the country would be producing less than 500,000 barrels per day. They understand the swampy terrain of the Niger Delta very well, and more collaboration between them and Nigerian security agencies will help boost oil production in the country,” Abdulrazak stated.

The coalition’s commendation of Tantita’s efforts and call for government action against oil theft come at a crucial time when Nigeria’s oil industry is grappling with the longstanding challenge of oil theft and its impact on the country’s economy.