Stakeholders under the aegis Niger Delta Roundtable have called on Bola Ahmed Tinubu to urgently decentralise pipeline surveillance contracts, warning that the current structure is failing to curb crude oil theft and is costing Nigeria billions in lost revenue.

Rising from an emergency meeting in Port Harcourt on Friday, the group resolved that pipeline security responsibilities in the Niger Delta should no longer be concentrated in the hands of a single contractor.

Instead, they advocated a system that distributes contracts across states, communities, and qualified indigenous firms with deep local knowledge of the region.

The position was contained in a statement issued by Dr. Always Taro Theophilus on behalf of the group, following deliberations at the meeting.

In the statement, the stakeholders expressed concern that despite the existence of a pipeline surveillance contract, illegal bunkering and asset vandalism remain widespread across oil-producing areas.

Citing official data from the Nigerian Upstream Petroleum Regulatory Commission and the Central Bank of Nigeria, the group said Nigeria lost approximately 93.74 million barrels of crude oil and condensates in the first eight months of 2025 alone.

At an average price of $73.06 per barrel for Bonny Light crude, the losses were valued at about $6.85 billion. They further noted that the country’s oil production has consistently fallen short of budget projections.

While the 2025 budget assumed daily production of 2.06 million barrels, actual output averaged 1.673 million barrels per day, representing a deficit of about 390,000 barrels daily.

The situation persisted into 2026, with production in January recorded at 1.459 million barrels per day against a benchmark of 1.84 million barrels.