Mele Kyari, on Tuesday, have disclosed that 122 persons have been arrested for oil theft between April and August 2022. The Group Chief Executive Officer of the Nigeria National Petroleum Company, made this disclosure at the presidential villa Abuja, during the 49th Session of the State House Briefing organised by the Presidential Communications Team.
He said illegal connections of about 295 stretch of pipes for about 200km was also discovered by the operative of government.
Recall that the federal government has been complaining of high profile oil theft in Nigeria which caused revenue from the oil sector to dwindle.
According to Kyari, the operatives also discovered 344 illegal oil reservoirs, 355 cooking pots, 759 metal tanks, 37 trucks, 450 boats and 179 holding boxes used by vandals to perform their nefarious activities in the oil-producing regions of the Niger Delta.
While lamenting that oil theft robs the country of at least 700 barrels per day, he noted that the gravest consequence is the degradation of the Niger Delta environment.
Fielding questions on the high cost of fuel importation, the Group CEO revealed that the country will be PMS sufficient by mid-2023.
He said the Dangote Oil Refinery will produce at least 50 million barrels per day when it begins operations next year, making it unnecessary to import Premium Motor Spirit.
On NNPC shares, Kyari revealed that the company will be IPO-ready by the middle of 2023.
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