Prominent Nigerian businessman Tony Elumelu has called on the Nigerian government and security agencies to reveal the identities of those responsible for stealing the country’s crude oil, particularly through vessels operating within Nigeria’s territorial waters. Elumelu made these remarks during an interview with the *Financial Times* published on Friday.
Elumelu, who has long expressed concerns about the impact of oil theft on the industry, highlighted the issue as a key factor in the divestment of international oil companies from Nigeria. He shared his personal experience, revealing that criminal gangs had stolen crude oil from pipelines owned by his company, which eventually led to the shutdown of production in 2022.
In a series of tweets during the crisis, Elumelu lamented the situation, stating, “How can we be losing over 95 percent of oil production to thieves? Look at the Bonny Terminal that should be receiving over 200,000 barrels of crude oil daily. Instead, it receives less than 3,000 barrels, leading the operator Shell to declare force majeure.”
Elumelu further argued that oil theft is the primary reason Nigeria has been unable to meet its OPEC production quota, dismissing the notion that low investment is to blame. “Oil-producing countries are smiling as their foreign reserves are rising. What is Nigeria’s problem? We need to hold our leaders more accountable!” he tweeted.
During his interview with *Financial Times*, Elumelu expressed cautious optimism, noting that while theft still accounts for 18 percent of crude oil taken from his fields, the situation has improved somewhat. “42,000 barrels of crude are pumped out daily. Theft still takes away about 18 percent of production,” he said.
When asked who might be behind the theft, Elumelu emphasized the scale of the crime, pointing out that it is far from a petty theft. “This is oil theft; we’re not talking about stealing a bottle of Coke you can put in your pocket. The government should know; they should tell us,” he insisted. Elumelu also questioned how vessels could enter Nigerian waters to steal crude oil without the authorities being aware. “Our security agencies should tell us who is stealing our oil. You bring vessels to our territorial waters and we don’t know?”
Elumelu also recounted how the previous administration under President Muhammadu Buhari allegedly prevented him from acquiring an oilfield. He claimed that despite raising $2.5 billion for the purchase, the deal was blocked by former President Buhari and his late Chief of Staff, Abba Kyari.
In a broader discussion, Elumelu addressed the ongoing trend of Nigerians relocating abroad, expressing his support for those seeking opportunities elsewhere. “I support it totally. I don’t have a problem with people saying ‘I’m going to Canada, the UK, or the US,’” he stated, adding that joblessness in Nigeria represents a betrayal of the younger generation. However, he encouraged those who choose to stay in Nigeria to strive to create an impact and build a lasting legacy.
