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Stolen Nigerian oil sold in the Balkans and Singapore.

ABUJA (CyHAN)- Oil campaigners in Nigeria say that the majority of buyers of the estimated 180 000 stolen barrels of oil are located in the Balkans and Singapore.

A prominent politician and oil activist from the countries oil rich Niger Delta region says that 90% of the stolen oil from the area is shipped off to other countries illegally.

Patrick Dele Cole has launched the "Stop The Theft" campaign, with the aim of creating awareness and putting an end to this phenomenon.

According to Dele Cole, the campaign has called on authorities to track these vessels via satellite, in addition to exposing the money trail which it creates.

"Once you start asking questions and throwing light on this problem, you have solved more than 50% of the problem," said Dele Cole, a well-known 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," he added.

Over the past few years the countries oil industry has been marred by a series of scandals and has been tainted with corruption and fraud, with many prominent politicians being involved.

Even thou the Nigerian army suppose to stop the theft of oil, many soldiers are involved in the thieving of crude oil, being bribed and paid to turn a blind eye.

Campaigners say that 10% of the stolen oil is refined by local gangs operating in secret through the Niger Delta, with the rest of the snatched oil being illegally shipped out to countries such as the Ukraine, Serbia and Bulgaria, along with Singapore, known as world's best refiner of crude into fuel.

The theft of 180 000 barrels of oil per day is costing the Nigerian economy around US$ 6 billion a year. The country is one of the world's largest oil producers, and the biggest on the African continent.

CyHAN

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Publication:Cihan News Agency (CNA)
Geographic Code:9SING
Date:Oct 23, 2012
Words:331
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