By Seyi Odewale
The Ibenanaowei of Ekpetiama Kingdom in Bayelsa State, King Bubaraye Dakolo, has criticised the Federal Government for its failure to identify and prosecute the real perpetrators behind the massive crude oil theft plaguing the Niger Delta region.
Speaking on The Morning Brief on Channels Television, King Dakolo, who also chairs the Bayelsa State Traditional Rulers Council, expressed dismay that no high-profile individual has been convicted despite decades of persistent oil theft amounting to trillions of dollars.
“What I do know is that the Federal Government does not know who an oil thief is — or at least pretends not to know,” he said. “It is shocking that no one has been arrested, prosecuted, and jailed for this crime. Visit Kirikiri, Kuje, or Kogi prisons — you won’t find a single oil thief on the record.”
The monarch said authorities often target vulnerable residents in the Niger Delta while ignoring the major actors behind the theft. He noted that around 200,000 barrels of crude oil are stolen daily — a scale of operation that requires large ocean-going vessels, not canoes or jerrycans.
“The government is busy chasing poor, disenfranchised youths who can’t even afford basic education or meals, while the real oil thieves live lavishly — with mansions in Banana Island, luxury homes in Abuja, London, and across Europe,” he said.
He painted a vivid contrast between the stereotyped Niger Delta youth and the actual beneficiaries of oil theft.
“The real oil thief doesn’t visit the creeks. If he must, he comes heavily guarded, with a full retinue of escorts and medical personnel — just in case he gets bitten by a mosquito,” he added.
On the broader economic impact, King Dakolo alleged that over $3 trillion worth of crude oil had been extracted from Nigeria’s reserves over the years, much of it stolen outright.
“The mismanagement of oil and gas revenues is a long-standing tragedy. Until we have a clear, honest definition of who an oil thief is, nothing will change,” he said.
He likened the looted oil wealth to the infamous ‘Abacha loot,’ which continues to be recovered decades after the late dictator’s death.
“We hear of snakes swallowing money, rats eating files, and fish stealing funds — this is the depth of absurdity we’ve reached.”
His remarks come amid ongoing efforts by the military and oil sector stakeholders to meet President Bola Tinubu’s target of producing 2.5 million barrels of crude daily. Despite a three-month ultimatum issued by the Chief of Defence Staff, General Christopher Musa, in February to curb oil theft and boost output, Nigeria’s production remains stuck at 1.4 million barrels daily.
King Dakolo’s comments are a stark reminder of the deep-rooted corruption, impunity, and lack of accountability in managing Nigeria’s most valuable resource.
