As Brent crude prices declined by 4.44 per cent to $71.92 per barrel following easing supply concerns over the Strait of Hormuz, Nigeria’s sustained increase in crude oil production is helping to cushion the impact on the economy. Amongst other measures, one of the major factor behind the production surge is the restoration of peace and stability across the Niger Delta championed by Tantita Security Services Nigeria Ltd, whose pipeline surveillance operations has helped curb crude oil theft and pipeline vandalism, thus enabling Nigeria to mitigate some of the revenue losses associated with falling global oil prices. Uzoma Mba reports
With Brent crude prices decline by 4.44 per cent to $71.92pb on easing supply concerns over Strait of Hormuz, Nigeria’s high oil production is cushioning the effects on economy. Amongst other measures, the oil production surge is linked to successful operations by the Tantita Security Services Nigeria Ltd, which for years achieved peace and stability in the the Niger Delta region and in turn accelerated oil production, helping Nigeria manage revenue shortfalls from oil prices decline.
In every thriving economy, there is always the urgent need to protect strategic assets. Doing so comes with so many benefits including building stability and confidence that lead to national prosperity. Nigeria’s experience with pipeline surveillance operations in the Niger Delta region has followed this trajectory.
