FG loses $775.2m to illegal oil and gas cargo discharge

Posted by News Express | 25 May 2016 | 2,222 times

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The Federal Government is losing a huge sum of 775.2 million dollars (N152.7 billion) annually on oil and gas cargoes discharged at undesignated terminals.

A maritime expert, Mr Emma Ugoji, made the disclosure in a statement made available to newsmen on Tuesday in Lagos.

Statistics released by the Nigerian Ports Authority (NPA) showed that Liquefied Natural Gas (LNG), Refined Petroleum; and Crude oil handled in Nigerian ports in 2015 totalled 160.5 million tonnes.

According to Ugoji, 4.83 dollars is being lost per tonne on oil and gas cargoes discharged at undesignated terminals.

He said that in a duly-designated terminal for handling oil and gas cargoes such as Intels Terminal at Onne, 5.83 dollars is currently being paid per tonne as against one dollar in other undesignated terminals.

“Maritime experts hold the opinion that all that the Federal Government needed to do over the years to sustain collectable revenue inflow from transportation, berthing and cargo discharge of vessels was to enforce the policies that have been in existence for many years.

“This would boost economic activities in the sector as well as ensure that regulatory agencies enforced rules and regulations without compromise.

“Assessing what has been happening in the sector in Nigeria, experts are of the view that Nigeria has a set of good policies guiding the conduct of players in the maritime sector.

“The challenge has been the impunity with which operators, especially owners of private jetties collaborate with shipping companies and importers to flout rules and regulations.” (NAN)                       

•Photo shows oil tanker.


Source: News Express

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