There are reports that the European Union (EU) is prepared to stop the purchase of stolen oil from Nigeria in Europe.
According to reports, any crude oil meant to be sold in the European market is now to be accompanied with a certificate of origin.
Acting Co- President African, Caribbean, Pacific Parliaments- European Union (ACP- EU), Mitchell Rivasi said: “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.
“The bunkering tankers are better equipped than the Nigerian Navy, This is a huge international organised crime. We did it with diamond; we can also do it with oil.”
“Could someone please explain why you don’t have refineries in Nigeria?” She asked, describing Nigeria as a “paradox”.
“There is a paradox in Nigeria. There’s a seven per cent growth in the economy, but growth and employment are not going hand-in-hand. We need to respond to this paradox.”
The communique issued at the end of the ACP- EU meeting in Abuja last week read: “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.
“Members also expressed concern at the high rates of oil thefts, wastage and illegal bunkering which lead to substantial revenue losses and environmental degradation. Members called on the Nigerian government to put in place appropriate mechanisms and measures to fight against this organised crime.”
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