Tony Elumelu, founder and chairman of Heirs Energies, is calling on the Nigerian government and security agencies to expose those responsible for stealing the country’s crude oil. In an interview with the Financial Times, Elumelu expressed frustration over the lack of transparency and accountability in addressing oil theft.
He emphasized that oil theft is a significant issue, contributing to the departure of international oil companies from Nigeria. Elumelu questioned why the government and security agencies have not identified and disclosed the perpetrators, comparing it to how quickly information is released in other countries, such as the US.
Elumelu also discussed his company’s experience with oil theft, which led to a significant loss of production. He recalled how his company, Heirs Holdings, had been seeking to purchase an oilfield since 2017 but faced obstacles, including a blocked deal by former President Muhammadu Buhari’s administration.
Elumelu expressed his frustration on social media in 2022, highlighting the severity of the issue. Recently, the Nigerian National Petroleum Company (NNPC) declared a state of emergency on crude oil production, vowing to tackle the challenges affecting production.
