Ngozi Okonjo-Iweala, Director General of the World Trade Organization (WTO), has issued a stern call to action against the persistent problem of crude oil theft in Nigeria. Speaking at the 2024 Annual General Conference of the Nigerian Bar Association (NBA), Okonjo-Iweala emphasized that the theft of Nigeria’s national assets, particularly crude oil, is “intolerable” and must be stopped immediately. She stressed that there are no longer any excuses for inaction, given the availability of advanced technology that can track and prevent such theft.
Addressing a room filled with legal professionals at the Eko Hotel & Suites in Lagos, Okonjo-Iweala delivered her keynote speech titled, “A Social Contract For Nigeria’s Future.” In it, she underscored the critical importance of safeguarding Nigeria’s national resources to ensure the country’s economic stability. According to the WTO chief, the large-scale theft of crude oil has severely undermined Nigeria’s economic and financial health, weakening its foreign reserves and impeding national development.
“All Nigerians must agree that stealing of our national assets of any type is intolerable and must be stopped,” Okonjo-Iweala declared. She highlighted that technological innovations available today provide the tools necessary to track and prevent crude oil theft. However, she expressed frustration that despite these advancements, the problem persists. “There is so much technology available now to track such theft, and there must be no more excuses for inaction,” she stated, urging immediate and decisive action from those responsible for protecting Nigeria’s resources.
The NBA conference, themed “Pressing Forward: A National Posture to Rebuilding Nigeria,” brought together prominent figures from both within Nigeria and abroad. Among those in attendance were former Ghanaian President John Mahama, Justice Monica Dongban-Mensem, President of the Court of Appeal of Nigeria, and Vice President Kashim Shettima, who represented President Bola Tinubu. The event also saw the participation of Acting Chief Justice of Nigeria Justice Kudirat Kekere-Ekun, Senate President Godswill Akpabio, and House of Representatives Speaker Tajudeen Abbas.
In her address, Okonjo-Iweala linked the issue of oil theft to the broader challenge of national security. She argued that the protection of Nigeria’s national assets is as crucial to the country’s stability as its defense against external threats. The loss of revenue from crude oil theft not only weakens Nigeria’s economy but also diminishes the government’s ability to fund critical public services and infrastructure projects. This, in turn, has a ripple effect on the nation’s overall security, making it vulnerable to both internal and external threats.
Despite numerous efforts by successive governments to tackle the issue, including the deployment of military forces to protect oil installations, the problem has persisted. The lack of effective monitoring and enforcement, coupled with widespread corruption, has made it difficult to stem the tide of oil theft. Okonjo-Iweala’s speech highlights the need for a more comprehensive approach that combines technology, transparency, and accountability to address this critical issue.
