The Ibenanaowei of Ekpetiama Kingdom in Bayelsa State, King Bubaraye Dakolo, has issued a damning rebuke of the Nigerian government, accusing it of deliberately failing to prosecute those truly responsible for the decades-long looting of the country’s crude oil resources.
Speaking during a live appearance on *Channels Television’s The Morning Brief* on May 26, 2025, King Dakolo, who is also the Chairman of the Bayelsa State Traditional Rulers Council, lamented that despite the loss of over \$1 trillion in crude oil, no influential individuals have ever been convicted for oil theft.
“It is surprising that for this long, not one oil thief has been arrested, prosecuted, and jailed,” he said. “There is not one oil thief listed in Kirikiri, Kuje, or any other Nigerian prison.”
The monarch decried the lack of a clear government definition of who an oil thief is, asserting that poor, marginalised youths in the Niger Delta are wrongly scapegoated, while the true culprits—wealthy elites with luxurious lifestyles—are shielded by the state.
“The oil thief definitely is not the youth in the Niger Delta… The oil thief will have properties on Banana Island, in London, and in the U.S. He won’t set foot in the swamps without a military escort,” Dakolo said.
He cited records showing 200,000 barrels of crude oil are stolen daily—quantities too large to be hidden by impoverished locals, implying complicity from high-level actors with access to vessels and global networks.
On financial implications, King Dakolo placed the cumulative value of looted crude at around \$3 trillion, with at least \$1 trillion outright stolen and never accounted for.
“That’s why we keep receiving ‘Abacha loot’ 27 years after his death. We might even receive more this year,” he added, alluding to Nigeria’s recurrent recovery of embezzled funds from foreign governments.
He criticised the government’s excuses and satirical explanations for missing funds—blaming rats, snakes, and mysterious fires—as emblematic of a deep-rooted culture of impunity.
Despite a three-month ultimatum issued by the Chief of Defence Staff earlier this year to tackle oil theft and increase output to 2.5 million barrels per day, production has remained stagnant at 1.4 million barrels per day.
The monarch’s comments spotlight the persistent disconnect between state rhetoric and action, and the need for urgent reform, transparency, and genuine accountability in Nigeria’s oil sector.
