LAGOS OCTOBER 27TH (URHOBOTODAY)-President Goodluck Jonathan on Saturday said the Federal Government was exploring the possibility of using an electronic pipeline surveillance to track oil theft in the country.
The News Agency of Nigeria reports that the President stated this at a two-day oil and gas investment forum in Onne, Port Harcourt.
If this statement is anything to by, it means Ex-Niger Delta warlords who were awarded pipeline surveillance contracts running into billions of Naira may lose their source of huge income.
Jonathan, who was represented by the Senate President, David Mark, described the menace of oil theft as worrisome, stressing, however, that government was ready to tackle it headlong.
“Relevant regulatory agencies are working round the clock to combat the challenge, considering the strategic position of oil and gas in the economy. My administration has embarked on a number of far-reaching measures to combat these unwholesome activities. Government is exploring the possibility of using electronic pipeline surveillance to track down oil theft,” he said.
The President directed that the agencies concerned should also ensure strict enforcement of the ban on the illegal discharge of cargo and receiving of vessels at private jetties.
He said steps should be taken to guard against the breach of national security and loss of revenue to government.
According to him, government generated revenue in the zone has increased from $5.4bn to $7.1bn in 2013 and the Foreign Direct Investment from $4bn to $4.2bn dollars in 2013.
“Available statistics indicate that the companies operating in the free zone have increased from 150 in 2011 to 170 in 2013, employment regeneration has increased from 30,000 in 2011 to 34,000 in 2013. Support to family livelihood has grown from 180,000 in 2011 to 200,000 in 2013. If these indices are not indicating an attractive environment for investors, I wonder what else they are,” he said.
The Minister of Industry, Trade and Investment, Dr. Olusegun Aganga, said the Oil and Gas Free Zone would continue to be a catalyst for the diversification of the economy.
The Rivers State Governor, Mr. Rotimi Amaechi, called on investors to ensure optimum utilisation of investment opportunities in the state, to promote maximum economic growth in the country.
Source: Citizen