DPR generates N2.4tn in one year, Rues oil theft

The Department of Petroleum Resources has lamented the high rate of crude theft in the country. The agency also disclosed that it generated N2.4tn to support government revenue in 2019 despite the challenge of oil theft.

It explained that theft was still being perpetrated in five out of the 28 land terminals in the country. The DPR, however, said that the incidences of crude theft had started to reduce since “it began to barge the operations”.

The Director/Chief Executive Officer of the DPR, Sarki Auwalu, stated this when the Senate Joint Committee on Petroleum Resources embarked on oversight of the organisation’s facilities in Lagos on Friday. A statement by the joint panel on Sunday explained that the lawmakers were led by the Chairman, Senate Committee on Petroleum Resources (Downstream),

Senator Sabo Mohammed. Awualu, according to the statement, assured the lawmakers that the DPR will continue to create opportunities for both local and foreign investors. He pointed out that the DPR had the digital technology required to surpass its current performance. He also said that the Department saw itself as “an opportunity agency for foreign and local investors and poised to help government actualise its goals.”