Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation (WTO) and former Nigerian Finance Minister, has declared that there are no more excuses for failing to address the rampant oil theft in Nigeria. Speaking at the opening ceremony of the 2024 Annual General Conference of the Nigerian Bar Association (NBA) in Lagos, Okonjo-Iweala underscored the need for immediate action against the “intolerable” crime of crude oil theft.
In her keynote address, entitled ‘A Social Contract For Nigeria’s Future’, Okonjo-Iweala highlighted the technological innovations available to track and combat oil theft, stating, “There is so much technology available now to track such theft, and there must be no more excuses for inaction.” She emphasised that the theft of national assets undermines Nigeria’s economic and financial stability and called for a united front against the crime.
“All Nigerians must agree that stealing our national assets of any type is intolerable and must be stopped,” she asserted, noting that the widespread oil theft has hindered the country’s efforts to strengthen its foreign reserves.
Okonjo-Iweala also addressed the issue of political insecurity, urging politicians to refrain from weaponising insecurity for political gain. “We certainly cannot have security without development,” she stated, lamenting how some politicians exploit insecurity to undermine their opponents, which has led to tragic consequences for innocent citizens.
The conference, themed ‘Pressing Forward; A National Posture to Rebuilding Nigeria’, attracted notable figures, including former Ghanaian President John Mahama, the President of the Court of Appeal of Nigeria, Justice Monica Dongban-Mensem, and Vice President Kashim Shettima, who represented President Bola Tinubu. Acting Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, and Senate President Godswill Akpabio were also in attendance.
Oreoluwa is an accountant and a brand writer with a flair for journalism.
