Theft of oil costs oil companies, governments (and the communities
they serve) hundreds of millions of dollars each year in Nigeria
alone. In addition to loss of revenue, oil theft fuels violence and
insecurity, feeds corruption, finances the purchase of weapons,
corrupts youth, escalates youth unemployment, causes environmental
pollution and destabilizes communal life.
The concept of oil certification follows the success of the
“conflict diamonds” initiative and aims to hit the
well-organised theft of oil by choking off the market for the
stolen oil and interrupting the supply chain.