The chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has urged major oil companies in Nigeria to implement advance cargo declaration for crude exports to discourage the theft of Nigerian crude oil.
The EFCC boss spoke while members of the Oil Producers Trade Section of the Lagos Chamber of Commerce and Industry, LCCI, were on a courtesy visit to the commission.
He suggested that this measure, which involves declaring cargo contents in advance and receiving a unique tracking note for all exports, would not only deter theft at export terminals but also discourage off-takers from accepting such cargoes.
Bawa noted that the introduction of advance cargo declaration was recommended by a committee in 2014 but was never implemented. He called on the oil chiefs to revisit the recommendation as a possible solution to the challenge of oil theft.
Bawa also expressed concern about the shutdown of Nigerian refineries and the resulting vacuum, which illegal refiners were exploiting to produce adulterated Automotive Gas Oil.
He assured IOCs of the Commission’s commitment to collaborate with all stakeholders to address the issue of oil theft.
The Managing Director of Chevron Nigeria Limited and Chairman of OPTS, Rick Kennedy, expressed the industry’s concern about crude oil theft and its impact on the environment and the economy. He appreciated the government’s efforts in reducing oil theft but acknowledged that it still persisted.
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