President Goodluck Jonathan speaking recently during the 2015 Presidential Debate organized by the Nigeria Elections Debate Group (NEDG), has promised that the federal government would develop a new technology to combat the activities of oil thieves in Nigeria.
Jonathan said that the issue of oil theft is a serious challenge that must be dealt with, adding that the government was developing a technology to fight it to a standstill.
He noted that private sector participation must be encouraged to make the oil sector truly profitable to the point of exporting petroleum products.
“The issue of stealing our common assets; we are developing a technology now, contract have been awarded and we must stop it. The issue of downstream is a combination of government and private sector; it has to do with refining, production of fertilizers, petrochemicals.
“The privatized companies of government especially the Eleme Petrochemicals is working very well. That is a big success story as the Eleme Petrochemicals was abandoned but now it is one of the biggest in the World. They are planning to expand and bring in fertilizer production into it,” Jonathan said.
He said that the government planned to liberalize the downstream sector for more private sector participation in the exportation of petroleum products.
Jonathan stated that the Nigerian National Petroleum Corporation, NNPC and the entire sector will have to be unbundled even without the Petroleum Industry Bill.

Johnson Alabi
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