- Chief of Army Staff Lt. Gen. Olufemi Oluyede directed troops to reduce illegal oil bunkering significantly within one month to boost oil revenue
- Oluyede emphasized that increased oil production is vital for stabilizing Nigeria’s economy, warning troops against involvement in illegal activities
The Chief of Army Staff, Lt. Gen. Olufemi Oluyede, has directed troops guarding oil installations in Port Harcourt to reduce illegal oil bunkering within one month significantly.
Speaking to the 6 Division of the Nigerian Army in Port Harcourt, Oluyede emphasized the critical role of oil production in stabilizing Nigeria’s economy.
He warned that without increased revenue from oil, the exchange rate would continue to rise, leading to higher living costs.
Nigeria currently produces slightly above 1.5 million barrels of crude oil daily, with a federal target of 2 million barrels daily.
Oluyede charged the troops to intensify efforts to safeguard oil installations in the Niger Delta and ensure production meets the target.
“There is no other way to bring down the dollar if the government doesn’t earn from oil. Oil is the backbone of Nigeria’s economy,” Oluyede stated.
He cautioned troops against involvement in illegal bunkering, warning that anyone caught would face strict disciplinary measures.
“If anyone tells you to engage in illegal activities, tell them the Chief of Army Staff has forbidden it,” he added.
The Army Chief stressed the importance of patriotism, urging the troops to prioritize national interest. “Nigeria is our only country, and we must work to make it better.
I’ve directed your commanders to lead effectively. In one month, I expect tangible progress in oil production,” Oluyede concluded.
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