The federal government has asked Britain for help to
tackle a multi-million dollar oil theft business which is run by international
crime syndicates, Minister for Petroleum Resources, Diezani Alison-Madueke said
on Tuesday.
Oil 'bunkering' -- hacking into pipelines to steal crude then
refining it or selling it abroad -- is costing Nigeria a fifth of its two
million barrels per day output, government and international oil companies say.
"The products from bunkering are not sold in (West Africa), neither are
the financial outputs ... laundered in West African banks, they are ending up
in far flung international fiscal institutions," Diezani Alison-Madueke
told an industry conference in Abuja."Mr president has begun to reach out with his colleagues around the world. A discussion was held with the prime minister of Great Britain on Monday a week ago and they are all coming on board to help sort out this particular menace."
Source: BusinessDay
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