Read more
This book undertook a careful examination of oil bunkering in the Nigerian oil and gas sector and its effect on Nigeria's economy. It seeks to clarify the embarrassing misconception between oil bunkering and crude oil theft in Nigeria. It further reveals that, oil bunkering is a legitimate downstream business contrary to public belief as illegal on the face of it, as it primarily involves the fueling of ships with bunker oil. Oil bunkering becomes illegal when the requisite licence has not been obtained from the Department of Petroleum Resources (DPR) or where the licence is invalid. Economic sabotage becomes inevitable when over 400,000 barrels of crude oil are stolen per day, which are illegally refined and routinely sold off with a barge to bunker ships with such illegally refined bunker oil. Oil bunkering being a legitimate business undoubtedly will bring about economic prosperity where things are done according to law and the elimination of attendant factors.
About the author
M.J. Agboola earned his LLB (Hons) from the School of Law and Security Studies, Babcock University, Nigeria. He is an Associate Member of the Chartered Institute of Arbitrators (CIArb), UK. His research interest includes: Energy and Natural Resources Law, Admiralty Law and Arbitration.
