No more excuses to track crude oil theft – Okonjo-Iweala

The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, says there are no more excuses for failing to track and prosecute those responsible for crude oil theft in Nigeria.

Speaking at the 2024 Annual General Conference of the Nigerian Bar Association (NBA) in Lagos, Okonjo-Iweala noted that technological innovations have made it possible to monitor and address the “intolerable” act of crude oil theft.

Okonjo-Iweala said, “A second aspect of security relates to the security of national assets. Nigerians have seen for years how organised crude oil theft on a massive scale seriously undermines the economic and financial health of the country.

“All Nigerians must agree that stealing our national assets of any type is intolerable and must be stopped.”

She said oil theft has hampered the strengthening of the foreign reserves, adding that “there is so much technology available now to track such theft and there must be no more excuses for inaction.”