The Director General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has emphasised that technological innovations are sufficient to track and prosecute those responsible for crude oil theft in Nigeria.
Speaking at the opening ceremony of the 2024 Annual General Conference of the Nigerian Bar Association (NBA) at the Eko Hotel & Suites in Lagos on Sunday, the former Nigerian finance minister declared that those tasked with ending the “intolerable” practice of crude oil theft no longer have any excuses for inaction.
In her keynote address titled “A Social Contract for Nigeria’s Future,” Okonjo-Iweala highlighted the severe impact of large-scale, organized oil theft on Nigeria’s economic and financial stability.
“For years, Nigerians have witnessed how massive organized crude oil theft has severely weakened the country’s economic and financial health. All Nigerians must come together to declare that the theft of our national assets, in any form, is intolerable and must be stopped,” she said.
She also pointed out that oil theft has hindered the growth of Nigeria’s foreign reserves, adding, “There is abundant technology available to track this theft, and no more excuses can be made for inaction.”
The event, themed “Pressing Forward: A National Posture to Rebuilding Nigeria,” drew notable personalities from both Nigeria and abroad. Former Ghanaian President John Mahama and Justice Monica Dongban-Mensem, President of Nigeria’s Court of Appeal, attended in person. President Bola Tinubu was represented by Vice President Kashim Shettima, while other key figures such as Acting Chief Justice Kudirat Kekere-Ekun, Senate President Godswill Akpabio, and Speaker Tajudeen Abbas were also represented at the conference.