We are set to ban the purchase of Nigeria’s stolen crude oil in Our Markets- says European parliament

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The European parliament has stated its readiness to ban its refineries from buying un-certificated crude oil from Nigeria in order to help put an end to the huge loss of Nigeria’s oil to organized syndicate of oil thieves.

This disclosure was made by Mitchell Rivasi, acting president, ACP- EU and Joyce Laboso, secretary general, who spoke  to journalists at the end of the  three-day regional meeting of the members of the African, Caribbean, Pacific Parliaments and their European Union counterparts (ACP-EU) held  in Abuja

“We want to ban European refineries from buying un-certificated oil. 400, 000 barrels a day is a huge loss. We need to get traceability of oil to avoid theft. The oil companies are involved in this and everybody is making big money,” Rivasi said.

She noted that the country would have been better if the nation’s refineries were performing optimally; adding that the decision was necessitated by the House of Representatives’ Speaker Aminu Tambuwal’s appeal to the international parliament to support Nigeria in addressing oil thefts.

The communiqué issued at the end of the meeting read in part:  “With particular regard to the Nigerian oil industry, members stressed the need to ensure that the revenues generated from the extractive industry are distributed transparently and equitably through the national budget in order to contribute to sustainable development and poverty reduction.”

 

 

 

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