Economy

Navy recovers over 803,000 barrels of crude oil worth 105bn

The Nigerian Navy said operatives across the country recovered a total of 803 barrels of crude oil valued at N105bn in 2023.

The service also said a total of 703 illegal refining sites, 690 Cotonou boats laden with stolen crude, and 116 speed boats were destroyed by operatives of the Nigerian Navy.

The Chief of Naval Staff, Vice Admiral Emmanuel Ogalla disclosed this at a press conference in Abuja on Friday.

He said, “I am delighted to report that between January and December 2023, the NN destroyed 703 illegal refining sites and arrested 5 barges, 690 cotonou boats laden with stolen crude, 116 speed boats as well as 232 suspects engaged in COT. During the period, 82 vehicles/trucks and 23 vessels were also arrested.  Among the vessels arrested include MT Marine Express;  MT Cecilia, MT Ufuoma, MT Vigor I, MV Barge Ayeba Eneni; FT Lamu I, and MT   Vinnalaris I  Lagos among others.

“Arising from these, 46, 369,219 ltrs of AGO, 2,472,200 ltrs of DPK and 438, 886 ltrs of PMS were recovered. Similarly, the NN recovered 803, 353.20 bbls of crude oil. At current market values, the seizures made translate to about N105bn.”

Ogalla also said the Navy recovered 692 bags of cannabis worth N1.38bn

He said, “Additionally the NN has been active in the fight against illicit-drugs trafficking especially within the maritime domain. Between April and November 2023, the NN arrested 692 bags of Cannabis Sativa, worth about One Billion, Three Hundred and Eighty-Four Thousand Naira. The products have since been handed over to the NDLEA as required by law.”

(Punch)

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Raufu Musliyu

Raufu Musliyu is the Editor-in-Chief of News Flash Media Service. He is a PhD Student of Al-Hikmah University, Ilorin in the field of Mass Communication. Musliyu holds Masters of Science (M.Sc) Degree in Mass Communication majoring in Public Relations/Advertising. He also holds Bachelor of Science (B.Sc) and Higher National Diploma (HND) in Mass Communication. The Editor-in-Chief also bagged Post-Graduate Diploma (PGD) in Public Relations. He is an Associate of Nigeria Institute of Public Relations (NIPR) and Advertising Regulatory Council of Nigeria (ARCON). Musliyu is the Head of Corporate of Affairs & Administration of Abdulrauf Jimoh & Co.

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