Tony Elumelu, the founder and chairman of Heirs Oil and Gas, has called on the Nigerian government and security agencies to publicly identify those responsible for the rampant oil theft in the country.
In an interview with the Financial Times, Elumelu linked the divestment of international oil companies to the pervasive issue of oil theft. He expressed frustration at the lack of accountability, stating, “Who is behind the theft, I ask? It’s a question that has confounded many Nigerians.”
Elumelu emphasized the scale of the problem, comparing it to stealing a bottle of Coke, and questioned the government’s inability to identify perpetrators. He cited the swift investigation into an attempted attack on former U.S. President Donald Trump as an example of effective law enforcement.
The businessman also revealed that his own company has been a victim of oil theft, with criminal gangs siphoning off a significant portion of its production. This firsthand experience, he said, provided insight into the challenges faced by international oil companies.
Elumelu further accused the previous administration of blocking his company’s bid to acquire an oilfield, a move he described as illogical given the foreign ownership of the asset.
His comments come amid a declared state of emergency on crude oil production by the Nigerian National Petroleum Company.
