Navy Recovers 803 Barrels Of Crude Oil Worth 105bn

Posted by African Examiner Business News, Latest Headlines Friday, December 22nd, 2023

(AFRICAN EXAMINER) – The Nigerian Navy has stated that operatives across the country have found a total of 803 barrels of crude oil valued at N105bn in 2023.

The service also disclosed that a total of 703 illegal refining sites, 690 Cotonou boats laden with stolen crude, and 116 speed boats were damaged by its operatives.

The Chief of Naval Staff, Vice Admiral Emmanuel Ogalla made this known in 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 stated that 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.”