The Group Chief Executive Officer of the Nigeria National Petroleum Company, Mele Kyari, said on Tuesday that 122 people had been arrested for oil theft between April and August 2022.

He also revealed that government officials have discovered at least 295 illegal connections attached to a 200 km pipeline.

This has hampered the company’s production capacity on several fronts, he said.

Kyari made this known during the 49th session of the State House Briefing, hosted by the presidential communications team, at the presidential villa, Abuja.

The Group CEO also noted that security agents discovered 344 illegal oil reservoirs, 355 cooking pots, 759 metal tanks, 37 trucks, 450 boats and 179 storage boxes used by vandals to carry out their nefarious activities in the oil-producing regions of the Niger Delta.

However, Kyari argued that it is not the responsibility of the NNPC to reveal the names of those arrested.

Complaining that oil theft is robbing the country of at least 700 barrels a day, Kyari said the most serious impact is environmental degradation in the Niger Delta.

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He noted that property seized by Vandals was burned to prevent them from resuming operations.

The Group’s CEO raised questions about the high cost of fuel imports and revealed that the country will be PMS-sufficient by mid-2023.

He said the Dangote Oil Refinery will produce at least 50 million barrels per day when it becomes operational next year, eliminating the need to import Premium Motor Spirit.

On NNPC shares, Kyari announced that the company will be ready for IPO by mid-2023.

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