Europe to ban oil stolen from Nigeria
The European Parliament is set to stop the purchase of stolen oil from Nigeria in Europe. Any crude oil meant to be sold in the European market is now to be accompanied with a certificate of origin. This was one of the landmark decisions taken at the meeting of the members of the African, Caribbean, Pacific Parliaments and their European Union counterparts (ACP-EU) at the conclusion of their three-day regional meeting in Abuja last week. Mitchell Rivasi (Acting Co- President ACP- EU) and Joyce Laboso (Co- Secretary General) told reporters that the need to stop the huge loss of Nigeria’s oil to organised syndicates of oil thieves necessitated the decision. The Federal Government said last week after the National Economic Council (NEC) meeting that 400, 000 barrels of oil, an equivalent of N7.3million, is lost daily to oil thieves. Rivasi Said: “We want to ban European refineries from buying un-certificated oil. 400, 000 barrels a day is a huge loss. We need to get traceability of oil to...