Komolafe: Nigeria Lost $1bn Revenue to Crude Oil Theft in Q1 World’s richest billionaires lose $1.4tn in worst half-year ever Emmanuel Addeh in Abuja Nigeria lost $1 billion in revenue during the first quarter of this year due to crude oil theft, the Chief Executive Officer of the Nigerian Upstream Petroleum
Regulatory Commission (NUPRC), Mr Gbenga Komolafe, said at the weekend, warning that the development was a threat to the country’s economy. This is coming as the world’s 500 richest people lost $1.4 trillion
in the first half of this year, a dizzying decline that marks the steepest six-month drop the worst ever for the global billionaire class. Nigeria loses millions of barrels of crude oil a year because of theft and vandalism, including
the tapping of crude from a maze of pipelines owned by oil majors. Komolafe, according to Reuters, said that of the 141 million barrels of oil produced in the first quarter of 2022, only about 132 million barrels of oil were received at
export terminals. "This indicates that over nine million barrels of oil were lost to crude oil theft ... this amounts to a loss in government revenue of about $1 billion ... in just one quarter," Komolafe said in a
statement. "This trend poses an existential threat to the oil and gas sector and by extension, the Nigerian economy if not curbed," he added. Continued on page 5
FIRS Can Collect VAT from Lagos Hotel Owners, Appeal Court Rules…
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Defend Yourselves against Attackers, Adeboye Tells Followers Festus Akanbi in Lagos and Francis Sardauna in Katsina
L-R: Former First Lady of Oyo State, Mrs. Florence Ajimobi; Representative of the Orodje of Okpe Kingdom, Chief Godwin Egbagba; Celebrant and Author, Chief Jonathan Boytie Ogufere; the Obi of Onitsha, Igwe Nnaemeka Alfred Achebe; and Chairman of the occasion, President General, Urhobo Progressive Union Worldwide, Olorogun KUNLE OGUNFUYI Moses Taiga, during Chief Ogufere's 90th birthday and book launch reception at the Muson Centre, Lagos ...yesterday
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has spoken against the high rate of insecurity in the country and told the members of his Church to defend themselves against attackers. Continued on page 8
2023 Elections: INEC Receives 216 Requests for Particulars of Candidates Electoral umpire recognises Akpabio-backed APC faction in Akwa Ibom Vote-buying may mar Osun governorship poll, say INEC, NSA Chuks Okocha and Alex Enumah in Abuja As presidential candidates and other politicians seeking elective offices in the 2023 general election continue to claim that their certificates are missing,
the Independent National Electoral Commission (INEC) has disclosed that 216 requests have so far been received demanding the particulars of some of the candidates. Continued on page 6
Police Rescue 77 Hypnotised People from Church Basement in Ondo...Page 8
ACHIEVING A MILESTONE… L-R: Managing Director of Nigerian Ports Authority, Mr. Mohammed Bello Koko; Chairman of Board of Directors, Lekki Port, Mr. Abiodun Dabiri; and Managing Director of Lekki Port, Mr. Du Ruogang, during the reception of vessel conveying STS Cranes and RTGs at Lekki Deep Seaport…weekend