The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has decried the rising level of insecurity in the Gulf of Guinea, saying the impact on the Nigerian oil and gas industry is huge.

The minister, in a remark at the First Nigerian Navy Offshore Patrol Vessel Africa Conference in Lagos, on Thursday, condemned the increasing cases of hijacking, unauthorised vessel boarding and kidnapping in the region.

A statement signed by the Group General Manager, Group Public Affairs Division, Nigerian National Petroleum Corporation, Ms. Tumini Green, quoted the minister as saying that crude oil theft and illegal oil bunkering in the Gulf of Guinea had become a major source of concern to the Federal Government.

The minister was represented by the Group Managing Director, NNPC, Mr. Andrew Yakubu.

Citing a United States Naval Intelligence Report, Alison-Madueke said the region, in the first half of 2013, witnessed nine hijacking incidents in addition to 55 incidents of unauthorised vessel boarding, vessels fired upon and kidnappings.

According to her, maritime security is not only essential to maintaining the flow of revenue from oil and gas, but also impacts greatly on the region’s broader economic development.

She explained that maritime resources such as fish, aquaculture and an intact ecosystem directly contributed to the livelihood of many Africans.

Providing a breakdown of oil and gas operations in the region, Alison-Madueke noted that the Gulf of Guinea consisted of 15 countries with oil production exceeding 5.4 million barrels per day in 2012.

She stressed that oil supply from the Gulf of Guinea region in 2011 was equivalent to 27 per cent of the European Union’s consumption and 29 per cent of the total United States consumption in the same period.

Nigeria and Angola, according to her, account for 47 per cent and 34 per cent of total Gulf of Guinea oil supply, respectively.

As such, the minister emphasised the need for the Gulf of Guinea countries and their allies to  collaborate to police the sea lanes of the region, stressing that disruptions in crude oil supply would not only affect countries such as Nigeria, but will ultimately have  an impact on the global economy.

While calling for increased domestic efforts in addressing the menace, she said tackling illegal crude oil bunkering was multidimensional and required multilateralism.

Alison-Madueke added that resurrecting the Gulf of Guinea security protocol and collaboration with Nigeria and other countries would go a long way in addressing the maritime security issues.

-Punch