He claims that these thieves steal over 700,000 barrels of crude oil per day.

Sylva revealed this on Saturday while speaking to graduates of the Petroleum Training Institute (PTI) in Effurun, Delta State.

Sylva, who was represented at the event by the Ministry’s Permanent Secretary, Amb. Gabriel Aduda, said the losses are overwhelming and that the federal government is doing everything possible to combat the threat.

While assuring the government’s commitment to curbing the event, which has impacted negatively on the nation’s foreign exchange inflow, the Minister said his ministry would synergise with the National Assembly to ensure that adequate attention was given to the amendment of the PTI Act.

“Oil theft has denied the country of an estimated 700,000 barrels of crude oil per day. The adverse effect of this is the drop in crude oil production and the decline in the national income,’’ Vanguard quoted Sylva as saying.

Sylva said that the institute could achieve more if the PTI Act were amended to enable the institute to have access to more funding. He said the ministry had given PTI mandates in different research areas into using local materials in crude oil production, stoppage of gas flaring, and commercialising gas, among others.

He admonished the institute to embrace contemporary ways and methods to deliver on its mandates following global rapid changes in technology. The Minister also advised the institute to liaise with relevant parastatal agencies of government and local and international oil companies for the continued upgrade of relevant training curricula.

Sylva congratulated the graduates and assured them of opportunities in the oil and gas industry. He said “The skills you acquired will be pivotal in actualising the ever-evolving goals in the oil and gas industry.

“I am saying this confidently because the world still relies largely on hydrocarbons.”

Meanwhile, the Principal and Chief Executive Officer of PTI, Dr Henry Adimula, had said earlier that 1,156 graduates would receive diplomas and certificates for the 20220/2021 academic session.

He said: “Out of this figure, 659 will be awarded National Diploma and 501 will be awarded Higher National Diploma, while six graduates will receive the PTI General Welding Certificates.

“I am delighted to inform you that out of these numbers, 112 students graduated with distinction while 380 graduated with upper credits.”

According to him, PTI’s vision and mission, which are based on competence and capacity, have distinguished it as a Centre for human capacity development in Nigeria’s oil and gas industry and beyond.

While appealing to the National Assembly and significant stakeholders in the oil and gas sector to support the PTI Act amendment, Adimula stated that the amendment would allow the oil and gas institute to perform its duties effectively and in accordance with global trends.

According to the principal, one major challenge confronting the institute is the cost of funding its personnel’s local and international training.

“The institute’s infrastructure is presently overstretched and needs refurbishment, innovation and complete replacement of others,’’ Adimula noted.

Adimula congratulated the graduates and assured them that their training had prepared them for available opportunities in the oil and gas and allied industries and renewable new and cleaner energy sources.

One of the graduates, Miss Hope Oseh thanked God for completing her National Diploma programme successfully.