Audio By Carbonatix
The main buyers of the estimated 180,000 barrels of oil stolen each day in Nigeria are based in the Balkans and Singapore, a campaigner says.
Patrick Dele Cole, a politician from the oil-rich Niger Delta region, said 90% of the stolen oil is being shipped out of the country illegally.
He has launched a "Stop The Theft" campaign to end to the practice.
Nigeria is one of the world's biggest oil producers but most of its people remain mired in poverty.
'Day of reckoning'
The campaign is seeking to have ships tracked by satellite and for the money trail to be exposed.
"Once you start asking questions and throwing light on this problem, you have solved more than 50% of the problem," said Mr Dele Cole, a veteran diplomat and former presidential adviser.
"I think you should send out a warning to those who being extremely rich, that their day of reckoning is coming."
The entire oil sector in Nigeria is riddled with corruption, says BBC Nigeria correspondent Will Ross.
Many politicians are involved, he says, with part of the proceeds being used to fund election campaigns and buy votes.
The Nigerian army is supposed to stop the thieving but, although some arrests have been made, soldiers routinely take bribes of cash or fuel to turn a blind eye to the crime, our correspondent says.
Mr Dele Cole said that about 10% of the snatched oil was being refined locally by gangs operating in the delta's creeks and swamps.
The rest is mainly going to criminal networks in Ukraine, Serbia and Bulgaria, or to Singapore, which is the world's top refiner, he said.
"It's been a problem for a long time, but when it was 50,000 barrels, people thought [it] was tolerable. Now we're at a totally different level," he told Reuters news agency
The theft of 180,000 barrels of oil a day is costing Nigeria, at current oil prices, $6bn (£3.75bn) a year, our correspondent notes.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
PKO trio eye victories at Odwira Festival
2 hours -
346 Ghana Navy recruits pass out after 26 weeks of intensive training
2 hours -
Newsfile to discuss EOCO-MP arrest, drug trafficking, speech arrests and $235m water debt
2 hours -
JoyNews gets results as listeners raise GH¢40,000 to help 17-year-old student with cerebral palsy attend SHS
3 hours -
Vice President calls for stronger local pharmaceutical production to reduce medicine imports
3 hours -
The brewing tension at KNUST; Beware the Ides of October….
3 hours -
Health Ministry moves to integrate traditional medicine into mainstream healthcare
4 hours -
550 pupils in Kintampo South get educational lifeline as ‘Seeds of Hope’ reaches farming communities
4 hours -
Opoku Mensah urges Christian Council, House of Chiefs to speak up on democratic freedoms
4 hours -
Teacher unions’ strike: Minority demands immediate payment of teacher arrears, 20% deprived area allowance
5 hours -
The Accra-Kumasi Expressway: Building it right
5 hours -
Beyond gold exports: Building value and economic resilience from Ghana’s gold
5 hours -
2027 AFCONQ: Ghana under pressure as Gambia beat Somalia 2-1
5 hours -
Eastern NPP Women’s Organiser calls on AG, Police to secure bail for Salomey Baffoe
5 hours -
Poverty, illiteracy driving acceptance of vote-buying among women – Damongo Queen Mother
6 hours