Minister of State for Petroleum Resources, Timipre Sylva, disclosed, weekend, that the Federal Government has acquired “state of the art software and gadgets” to tackle the growing oil theft in the oil-bearing region

The minister spoke during the 2022 graduation of the Petroleum Training Institute (PTI), Effurun, Delta State. He was represented by the Permanent Secretary, Ministry of Petroleum Resources, Gabriel Aduda.

A total of 1,166 graduates received the institute’s diploma.

Sylva said: “This administration is making concerted efforts to curtail crude oil theft, which has reduced government’s revenue and foreign exchange income. Oil theft has denied the country of estimated 700,000 barrels per day. The adverse effect of this is the drop in the production of crude oil.

“These criminal activities are not taking place in oblivion. Therefore, the involvement of locals in tackling the problem is very essential. Similarly, Federal Government has acquired state of the art software and gadgets to detect, monitor crude oil theft in real time”

According to minister, the Federal Government is facilitating the creation of the Nigerian Oil and Gas Park at Odukpani, Cross River State.

He said the foundation of the park was laid in 2018 and was expected to be completed by the fourth quarter of 2022.

Sylva said the park would create an environment for low-cost manufacturing that would produce equipment components and spare parts that will be used in the Nigerian Oil and Gas industry.

He added that completion of the project would benefit the national economy because it would reduce demand for foreign exchange for importation of equipment and provide employment opportunities for graduates of PTI.

Earlier, the Principal and Chief Executive Officer of the PTI, Dr. Henry Adimula, said PTI, which is also celebrating 50 years of existence, had remained steadfast on its vision and mission, anchored on competence and capacity.

Credit: Guardian