RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Commodities

Nigerian Navy Intercepts Ghanaian Ship Laden With Two Million Litres of Crude Oil

Akpan Edidong by Akpan Edidong
March 4, 2024
in Commodities, Economy
Reading Time: 2 mins read
A A
0
Angola Surpasses Nigeria, Becomes Africa’s Largest Oil Producer in August
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The Nigerian Navy has made a significant breakthrough in combating oil theft and illegal bunkering activities, announcing the arrest of a Ghanaian vessel carrying approximately two million litres of stolen Nigerian crude oil. The vessel, identified as Motor Tanker (MT) Sweet MIRI, was intercepted on February 25, 2024, along with its crew of 13 individuals, including one Ghanaian and 12 Nigerians.

The arrest was made possible through the Navy’s newly launched operation, ‘Operation Delta Sanity.’ Rear Admiral Ayo Vaughan, the Navy spokesman, disclosed that the interception occurred about 174 nautical miles off Nigeria’s coast, as the vessel was en route to the Benin Republic. The ship’s suspicious behavior, including turning off its Automatic Identification System (AIS) to evade detection, raised red flags for naval authorities.

AlsoRead

Nigeria’s Foreign Reserves Rise by $551 Million in Three Weeks

Is the World Underestimating Nigeria?

Dangote Refinery Reduces Aviation Fuel Price to N1,650 per Litre

The Navy swiftly deployed Nigerian Navy Ship ABA and SOKOTO to intercept the vessel, subsequently tagging it as a “Vessel of Interest” (VoI) due to its contravention of the International Ships and Port Security Code (ISPS). Rear Admiral Vaughan emphasized the importance of the Navy’s vigilance in curbing illicit activities in Nigerian waters, stating, “The infraction by the vessel contravenes the International Ships and Port Security Code (ISPS), and she was tagged a ‘Vessel of Interest’ (VoI) by the Nigerian Navy.”

The operation aligns with the directives of Vice Admiral Emmanuel Ogalla, Chief of Naval Staff, who has ordered a thorough and independent investigation into the actions of the detained ship and its crew. This crackdown on maritime infractions comes at a crucial time for Nigeria, as the government aims to bolster crude oil production to reach a projected output of 2.5 million barrels per day.

Recent data indicates a positive trend in Nigeria’s oil production, with January 2024 witnessing a significant uptick. The country’s oil output rose to 1,426,574 barrels daily, marking a notable increase from December 2023 figures. With the price of Brent crude surpassing $84 per barrel, Nigeria stands to benefit from enhanced foreign exchange earnings, alleviating the persistent foreign exchange scarcity that has plagued the nation in recent months.

The successful interception of the Ghanaian vessel underscores the Nigerian Navy’s commitment to safeguarding the nation’s maritime domain and preserving its valuable natural resources. As investigations into the incident continue, authorities remain vigilant in their efforts to combat illegal activities and uphold maritime security in the region.

Previous Post

Unlocking Investment Opportunities: A Guide to Stock Trading

Next Post

EU Hits Apple With €1.8 Billion Fine Over Allegedly Fraud Practices

Related News

Naira depreciates to N755/$ in the parallel market.

Nigeria’s Foreign Reserves Rise by $551 Million in Three Weeks

by Jide Omodele
May 25, 2026
0

Nigeria’s external reserves have recorded a notable recovery in May 2026, climbing by approximately $551 million within the first three...

Exploring the data on multidimensional and monetary poverty in Nigeria.

Is the World Underestimating Nigeria?

by Stephen Akudike
May 21, 2026
0

For years, conversations about the future of global power have sounded familiar. China. The United States. India. Perhaps the European...

Airlines Implement Time-Saving Strategies for More Efficient Operations

Dangote Refinery Reduces Aviation Fuel Price to N1,650 per Litre

by Akpan Edidong
May 21, 2026
0

Dangote Petroleum Refinery & Petrochemicals has announced a significant reduction in the price of Jet A1 (aviation fuel), slashing it...

NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Denies Heavy Intervention in FX Market, Highlights Minimal Participation

by Jide Omodele
May 21, 2026
0

The Central Bank of Nigeria (CBN) has refuted allegations of aggressive intervention in the foreign exchange market, insisting that its...

Next Post
Apple Loses $200 Billion in Valuation as China Considers Ban on iPhones for Government Employees

EU Hits Apple With €1.8 Billion Fine Over Allegedly Fraud Practices

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Airlines Implement Time-Saving Strategies for More Efficient Operations

FAAN Engages International Airlines on Improved Airport Operations and Passenger Experience

May 25, 2026
FMDQ Exchange Records N21.70 Trillion Secondary Market Turnover in October

FMDQ Turnover Hits $180.85 Billion as Trading Volume Surge

May 25, 2026

Popular Story

  • Nigeria’s Debt to China Surges by $800 Million in One Year

    31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • Q2 GDP: Analysts Unhappy With Performance Of Agriculture, Manufacturing Sectors

    0 shares
    Share 0 Tweet 0
  • The Nixon Shock of 1971 and Today’s “Cheap Japan”

    0 shares
    Share 0 Tweet 0
  • Ethereum Struggled to Clear the $4,800 Resistance Zone 

    0 shares
    Share 0 Tweet 0
  • IMF – only 24% of CBN Anchor borrowers’ loans recovered.

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>