Stakeholders Decry $4 Billion Oil Theft Loss, Back Tantita's Surveillance Role
Stakeholders under the Ethnic Youth Leaders' Council of Nigeria (EYLCN) have expressed deep concern over Nigeria's staggering loss of over $4 billion to crude oil theft within a nine-month period. They have strongly endorsed the continued engagement of Tantita Security Services Nigeria Ltd for pipeline surveillance, citing its critical role in safeguarding the nation's oil infrastructure.
Court Ruling and Economic Impact
Comrade Meliga Godwin, the National Coordinator of EYLCN, praised the Federal Capital Territory High Court for its decision not to halt the renewal of Tantita's surveillance contract. He described the ruling as a significant boost for Nigeria's economy and national security, emphasizing that it reaffirms Tantita's strategic importance. Godwin warned that fragmenting the surveillance contract among multiple operators could reverse the substantial gains achieved in curbing crude oil theft and stabilizing the Niger Delta region.
Historical Losses and Current Improvements
According to Godwin, before Tantita's involvement, Nigeria faced massive losses with crude theft estimated at approximately 250,000 barrels per day, leading to billions of dollars in lost revenue. Specifically, between January and September 2021, the country lost more than $4 billion to oil theft, while production plummeted to nearly 900,000 barrels per day. However, since Tantita assumed surveillance operations, the situation has improved dramatically. Oil theft has declined sharply, and production has rebounded to nearly two million barrels per day.
Broader Benefits and Recognition
Godwin highlighted that Tantita's intervention has not only boosted investor confidence but also enhanced security, reduced environmental degradation from illegal refining, and created employment opportunities for youths in host communities. He commended the National Assembly for recommending that Tantita be designated a company of strategic national interest, noting that this recognition reflects its vital role in Nigeria's economic stability.
Call for Contract Renewal and Honors
Urging the Federal Government to renew the contract without delay and resist pressures to divide it, Godwin insisted that such moves could undermine ongoing progress. He further praised the firm's leadership, including Managing Director High Chief Kestin Pondi, Vice Chairman Matthew Tonlagha, and founder High Chief Government Ekpemupolo, popularly known as Tompolo, for their contributions to national development. He called for the conferment of national honors on the trio, citing their role in protecting Nigeria's economic assets.
Community Support and Political Allegations
Similarly, representatives of host communities, including Peter Ebang of the Niger Delta Youth Council, dismissed calls for the contract's division as politically motivated. Ebang alleged that certain interests are pushing for a split to create loopholes for renewed oil theft, claiming that attempts have been made to induce stakeholders with large sums of money to support this agenda. He maintained that they will resist any effort capable of destabilizing the Niger Delta or reversing the gains recorded in the fight against crude oil theft.
