‘Nigeria loses $7bn annually to oil thieves’ says Amaechi

Chinazor Megbolu |

The Minister of Transportation, Hon. Rotimi Chibuike Amaechi had said the federal government of Nigeria is losing $7 billion annually to oil thieves.

He said this Thursday night at Stakeholders’ Appreciation Night organized by the Nigerian Shippers’ Council (NSC).

The Minister restated its commitment towards waging war against pirates and oil thieves over their indiscriminate activities causing negative effect on the nation’s economy.

Amaechi, while stating their activities at the country’s territorial waters is annoying, noted that as part of the efforts to check the pirates, was the signing of a $195 million maritime security contract with an Israeli firm, HLSI Systems by the federal government.

He posited he was shocked by the recent kidnap of 19 crew onboard a tanker vessel on Nigeria’s territorial waters.

“My plan is to ensure that pirates and other criminals were chased out of Nigeria’s territorial waters, “he said.

Amaechi, however, pleaded with the National Assembly to support the security contract as the only way to end the security issue on the nation’s waters.

“I will not tolerate a situation in which vessels are attacked every now and then on the nation’s waters as far as I remain the nation’s Transportation Minister, “he said.