Nigerian Navy intercepts N86bn stolen crude


Nigerian Navy intercepts N86bn stolen crude

Operations of the Nigerian Navy in the Niger Delta region between January and February 2024 have led to the arrest and recovery of stolen crude oil from different criminal gangs operating in the region.

This was confirmed in a statement by Rear Admiral AO Ayo-Vaughan, Director of Information of the Nigerian Navy.

The recovered items are 60,815.77 barrels of crude oil worth about $5.218 million (N8.12bn); 557,580 litres of illegally refined Automatic Gas oil (AGO) worth N497 million; Dual-purpose Kerosene (DPK) worth N5.5 million and 9,000 litres of premium Motor Spirits (PMS) valued at N5.490 million.

Ayo-Vaughan said the oil thieves were denied about N8.6 billion, which could have been used to perpetrate criminal acts and threaten national security and prosperity.

He also said a total of 51 wooden boats were arrested while 105 illegal refining ovens, 85 reservoirs and 288 dugout pits were destroyed.
He added that 41 illegal refining sites, IRS, and three fibre boats were also destroyed during the operation.

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