ABUJA, Nigeria – The Minister of State for Labour and Employment, Nkiruka Onyejeocha, has called for the adoption of Artificial Intelligence (AI) to combat crude oil theft in Nigeria.
Speaking at the 3rd PENGASSAN Energy and Labour Summit in Abuja, Onyejeocha emphasized that integrating AI into the sector would significantly boost the development of the nation’s energy industry.
The Minister, in her address, urged stakeholders to collaborate on innovative solutions to these pressing challenges.
While describing the summit as timely, she said that the summit provides a crucial platform for professionals, policymakers, and stakeholders in the petroleum sector to discuss the future of Nigeria’s oil and gas industry.
She stressed the importance of focusing on energy mix, security, and the fight against crude oil theft, which are essential for ensuring access to affordable energy and curbing illegal activities in the sector.
The Minister highlighted the critical role of petroleum resources in Nigeria’s economy but acknowledged the current challenges facing the industry.
This is as she called for a unified effort to redefine the country’s approach to energy security, stressing the need to explore the intersection between national security and the availability of natural resources.
“This is indeed heartwarming by all ramifications considering the present situation of the petroleum industry in our dear country and it is my earnest desire and expectation that it will be sustained in the years ahead.
“This event therefore becomes very historic and timely as it will provide the needed platform for the invited professionals, policy makers and Stakeholders in the Petroleum Sector to deliberate on the present and future of our nation’s Oil and Gas Industry focusing on Energy Mix, Security, Divestment and the menace of Crude oil theft as captured by the theme of the year’s Summit with a view to providing access to cheaper energy which has become essential to the functioning of modern economies today and also suggesting ways and means to curb the nefarious activities of oil thieves amongst others.
“As you are aware, our rich endowment of Petroleum Resources has long been the lifeblood of our national economy but sadly, today, we stand at the crossroads in dire need of its bye products such as premium motor spirit (PMS) popularly called petrol and other associated challenges, it is therefore imperative that we come together to chart a new course if our country must overcome these challenges by identifying the nexus between national security and availability of natural resources for energy consumption for our people.
“Fellow Comrades, in the spirit of unity and progress that define our great nation, let us use this Summit as a platform to exchange ideas, share knowledge, and forge partnerships that will accelerate all-round development of our Energy Sector.
“We must seize the opportunity to deliberate and proffer innovative strategies, especially the application of Artificial intelligence (AI) for our Oil Industry in line with global best practices for generations to come, and more importantly, how to harness the opportunities that abound in the nation’s hydrocarbon future for indigenous Oil Companies in view of the recent policy changes and numerous upstream divestments by some International Oil Companies (IOCs) in this country”.
Speaking earlier, President of PENGASSAN, Comrade Festus Osifo said the 3rd edition of the summit would provide framework for policy trust of government
“As we gather here, let us not lose sight of the broader state of our nation. Nigeria stands at crossroads, and our actions and decisions here in the next few days will provide a framework for a policy trust for government towards shaping the economic outlook of our country.
“It is incumbent upon us to drive positive change, foster economic growth, and ensure our people’s prosperity.
“Recent policy directions by the government has placed untold hardship on Nigerians. Chief among them is the flotation cum devaluation of the Naira, which saw our currency slide from 450 Naira officially in May 2023 to the current exchange rate of about 1600 Naira.
“This is the reason why the landing price of PMS today is over 1,000 Naira (reintroduction of subsidy), the reason why AGO is selling for over 1,300 Naira, and the reason why all Imported commodities are over the roof today. The overarching Impact of this on Nigerians can only be imagined rather than experienced.
“Part of the decisions of floatation has totally benefited the oil and gas companies in Nigeria.”
