Oil Theft: Victory Claimed, Vigilance Needed

For years, oil theft bled Nigeria dry. It was the open secret everyone knew but nobody could stop. From crude stolen from pipelines to illicit refineries flaring across the Niger Delta, the country lost billions of dollars while officials accused each other.
Now, the Nigerian National Petroleum Company (NNPC) says the story has changed. According to its Group CEO, Bayo Ojulari, pipeline and terminal receipts are now close to 100 percent, a massive leap from the 30 percent recorded just three years ago. Reports by international and local media outlets confirm that oil theft has been “nearly eliminated.” Oil production is also projected to hit 2.5 million barrels per day, the highest since 2005.
This is good news. But Nigerians have heard good news before. We have seen too many “turning points” collapse into business as usual. While the present improvement is commendable, it must not be taken as the final word. Oil theft has not vanished completely, and the criminal networks behind it are only lying low.
The government must treat this moment as a fragile gain, not a permanent victory. First, transparency in the sector must be non-negotiable. The newly introduced real-time tracking of cargoes is a step in the right direction but must be made routine, separately audited, and shielded from politics.
Secondly, the people of Niger Delta that host these oil facilities must benefit from the joy of renewed revenue. Developmental projects such as schools, hospitals, access to clean water, and jobs must replace decades of abandonment that created resentment and sabotage as an attractive alternative. Security cannot solve an issue rooted in poverty and marginalization.
Thirdly, the masterminds of oil theft who have been shielded for long while small fry are being paraded around on TV, must face justice. Until there are prosecutions at the very top, the cycle will just keep going around.
Finally, the lesson of oil theft should remind Nigeria of the danger of depending almost entirely on oil. The same energy spent on protecting crude pipelines must be applied to building other sectors, including agriculture, gas, manufacturing, and renewables. Otherwise, the country risks being trapped again by the next crisis in oil.
NNPC and the security agencies deserve credit for the progress made. But the job is far from finished. Much more still needs to be done. Nigeria has a chance to reclaim its oil fortune from thieves. What it chooses to do with that chance, whether to cultivate it or squander it, will decide the economic fate of the nation.