Emmanuel Kachikwu, the group managing director of the Nigerian National Petroleum Corporation (NNPC), has stated that oil theft will be completely eradicated in the next eight months.
Vanguard reports that Kachikwu claimed this while speaking at a one-day seminar on Security in the Gulf of Guinea, which was organized by the Gusau Institute in Abuja.
The NNPC boss said that the corporation under his leadership would introduce a number of measures to check oil theft and to bring perpetrators to book.
According to him, some of the measures include the introduction of drones to monitor the pipelines as well as patrol the country’s coastal waters, equipping and increasing the capabilities of the security services to carry out their responsibilities, and the engagement of communities to police pipelines in their areas.
Kachikwu also revealed that the Petroleum and Product Marketing Company would be broken up into several companies. One company will be in charge of pipelines while others will be in charge of products.
The NNPC boss noted that these measures were necessary to ensure greater efficiency and transparency in the oil sector.
A week ago Kachikwu expressed his assurance that Nigerians want fuel subsidy to be removed. He said the removal of subsidy would not cause protests as observed in January 2012, emphasizing that over 90% of Nigerians do not benefit from the subsidy regime.