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President Jonathan, on Saturday, announced that the Federal Government is exploring the possibility of using an electronic pipeline surveillance to track oil theft in the country.
The president, who was represented by David Mark, the Senate President, made the revelation in his closing remarks at a two-day oil and gas investment forum in Onne, Port Harcourt, Rivers State.
Jonathan described the menace of oil theft as worrisome and reiterated government’s readiness to tackle it headlong.
“Relevant regulatory agencies are working round the clock to combat the challenge, considering the strategic position of oil and gas in the economy,” he said. “My administration has embarked on a number of far-reaching measures to combat these unwholesome activities. Government is exploring the possibility of using electronic pipeline surveillance to track down oil theft.”
The president assured that government was putting in place mechanism to ensure that vandals found it extremely difficult to access petroleum pipelines, and also promised his administration’s continuous support to an investment drive in the sector.
“To this end, I am calling on all relevant industries to ensure that all oil- and gas-related cargo are discharged only at the designated terminals,” Jonathan said.
The president ordered all agencies concerned to also ensure strict enforcement on the ban on the illegal discharge of cargo as well as the receiving of vessels at private jetties.
He said that steps should be taken to guard against the breach of national security and loss of revenue to the government.
According to him, the choice of the Onne oil and gas free trade zone was strategic, as it would showcase the investors’ confidence in the Nigerian economy.
Jonathan disclosed that government’s revenue generation in the zone increased from $5.4 billion to $7.1 billion in 2013 and the FDI from $4 billion to $4.2 billion dollars in 2013.
“Available statistics indicate that the companies operating in the free zone have increased from 150 in 2011 to 170 in 2013. Employment regeneration has increased from 30,000 in 2011 to 34,000 in 2013,” he said. “Support to family livelihood has grown from 180,000 in 2011 to 200,000 in 2013. If these indices are not indicating an attractive environment for investors, I wonder what else they are.”
Dr. Olusegun Aganga, Minister of Industry, Trade and Investment remarked that the Oil and Gas Free Zone (OGFTZ) would continue to be a catalyst for the diversification of the economy.
“The oil and gas industry remains the prime mover of Nigeria’s economy, while the OGFTZ concept continues to be strategic in the facilitation of private sector investments in the sector,” he said.
The State Governor, Rotimi Amaechi, called on investors to ensure optimum utilisation of investment opportunities in the state, in order to promote maximum economic growth in the country.
According to him, investments in the OGFTZ over the years had been successful due to the existing climate that is peaceful and conducive for business.
“I call on investors to take advantage of the peaceful investment that is conducive to the business climate put in place by the present administration,” Amaechi said.
The president, who was represented by David Mark, the Senate President, made the revelation in his closing remarks at a two-day oil and gas investment forum in Onne, Port Harcourt, Rivers State.
Jonathan described the menace of oil theft as worrisome and reiterated government’s readiness to tackle it headlong.
“Relevant regulatory agencies are working round the clock to combat the challenge, considering the strategic position of oil and gas in the economy,” he said. “My administration has embarked on a number of far-reaching measures to combat these unwholesome activities. Government is exploring the possibility of using electronic pipeline surveillance to track down oil theft.”
The president assured that government was putting in place mechanism to ensure that vandals found it extremely difficult to access petroleum pipelines, and also promised his administration’s continuous support to an investment drive in the sector.
“To this end, I am calling on all relevant industries to ensure that all oil- and gas-related cargo are discharged only at the designated terminals,” Jonathan said.
The president ordered all agencies concerned to also ensure strict enforcement on the ban on the illegal discharge of cargo as well as the receiving of vessels at private jetties.
He said that steps should be taken to guard against the breach of national security and loss of revenue to the government.
According to him, the choice of the Onne oil and gas free trade zone was strategic, as it would showcase the investors’ confidence in the Nigerian economy.
Jonathan disclosed that government’s revenue generation in the zone increased from $5.4 billion to $7.1 billion in 2013 and the FDI from $4 billion to $4.2 billion dollars in 2013.
“Available statistics indicate that the companies operating in the free zone have increased from 150 in 2011 to 170 in 2013. Employment regeneration has increased from 30,000 in 2011 to 34,000 in 2013,” he said. “Support to family livelihood has grown from 180,000 in 2011 to 200,000 in 2013. If these indices are not indicating an attractive environment for investors, I wonder what else they are.”
Dr. Olusegun Aganga, Minister of Industry, Trade and Investment remarked that the Oil and Gas Free Zone (OGFTZ) would continue to be a catalyst for the diversification of the economy.
“The oil and gas industry remains the prime mover of Nigeria’s economy, while the OGFTZ concept continues to be strategic in the facilitation of private sector investments in the sector,” he said.
The State Governor, Rotimi Amaechi, called on investors to ensure optimum utilisation of investment opportunities in the state, in order to promote maximum economic growth in the country.
According to him, investments in the OGFTZ over the years had been successful due to the existing climate that is peaceful and conducive for business.
“I call on investors to take advantage of the peaceful investment that is conducive to the business climate put in place by the present administration,” Amaechi said.
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