Headlines
Crude Oil Theft Hurting Nigeria’s Economy, Shell Laments

Shell Petroleum Development Company (SPDC) of Nigeria has expressed concern that crude oil theft remains a major challenge affecting the Nigerian economy.
The Head, Corporate Relations, Nigeria and Director SPDC of Nigeria Limited, Mr. Igo Weli, said this on Tuesday in Port Harcourt, during an engagement with journalists on ‘Crude Theft, Pipeline Vandalism and Illegal Refineries.’
Weli, who noted how Nigeria had deteriorated to the level it was, which he stated included the degraded Niger Delta environment, described crude oil theft as an organised crime fully funded by prominent and experienced individuals in the society.
He explained that though Shell operates in over 70 countries, the multinational has never experienced the level of sabotage it has seen on its facilities in Nigeria.
According to Weli, SPDC is not leaving Nigeria, as it still has future with the country. He regretted that if all the international oil companies (IOCs) leave Nigeria, it would affect the economy worse than it is experiencing.
Weli said, “You hear a lot of people clamouring for clean-up of Niger Delta, the point I am making is simple, that people should make the end-to-end link between their actions and the impact.
“If over 90 per cent spills are caused by people with axe, saws and even explosive weapons, then you are creating a problem that will eat up the budget you would have used for education, health, etc.
“If you break pipes and the pipes leads to spills and it is very expensive to clean up and the government had to clean up for the environment to be safe for us, then you channel resources needed for other things to that. But it is avoidable.
“There is a mess in the environment which is robing everybody. And as Nigerians, people who are interested in the future of this country, that should be the focus. How do we stop that mess? That mess has caused to our currency losing value.”
Speaking further, he said, “what we (Shell) do in Nigeria to protect our resources, we don’t do anywhere else in the world. The company is in over 70 countries and we are suffering such level of attack from only one country, sometimes lined up litigations”.
Speaking on SPDC going onshore, Weli stressed that the company was pushing hard onshore to get all the community committed.
While commending effort of the Rivers State Governor, Nyesom Wike in tackling the issues of illegal refining activities and soot pollution in the state, Weli urged, “governments at all levels to help stop crude oil theft and pipeline vandalism.”
In his presentation, Mr John Okojie, Lead, Right of Way and Encroachment, SPDC, noted that the biggest problem in oil industry was crude theft.
He said to ensure the control of the sabotage and ensure safe environment, Shell has continued to collaborate with communities effectively through direct surveillance and GMoU surveillance.
He added that the company also proactively engages Government Security Agencies (GSAs) to prevent crude oil theft, illegal refineries and pipeline vandalism.
On his part, Usman Anibasa who spoke on, “crude oil theft and illegal, refining: Implication for Remediation and Environment,” disclosed that crude oil theft increased to 108,000 bpd in Q1 2022, from 103,000 bpd in 2021.
Anibasa explained that, “$1 billion was lost in Nigeria’s Q1 revenue to crude oil theft.”
Headlines
China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

China has revamped its tax refund policy for foreign tourists, shifting from a refund-upon-departure model to a more convenient refund-upon-purchase system, according to the State Taxation Administration (STA).
The STA announced on Tuesday that under the new system, foreign visitors can now claim Value Added Tax (VAT) rebates instantly at designated tax-free stores. This change allows tourists to use their refunded amount immediately for additional shopping, enhancing their overall experience in China.
Previously, VAT rebates could only be withdrawn upon departure, but with the new policy, tourists will be able to access their refunds in real-time during their stay. The policy, which was initially tested in cities like Shanghai, Beijing, and Guangdong, has now passed all operational requirements and will be rolled out nationwide.
The STA emphasized its dedication to improving policy guidance and simplifying refund procedures to better serve international visitors.
Li Xuhong, Vice-President and Professor at the Beijing National Accounting Institute, welcomed the change, stating that the nationwide implementation would raise China’s tourism service standards. “It will foster a friendly, efficient, and convenient tourism environment,” Xuhong added.
Headlines
Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan’s Trade Office Claims

Rep. Jaafaru Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, has reiterated Nigeria’s firm commitment to the One-China Policy, following recent comments by Taiwan’s Trade Mission Head in Nigeria, Andy Yih-Ping Liu.
Speaking in Abuja on Tuesday, Yakubu firmly declared that Nigeria continues to recognize Taiwan as an integral part of the People’s Republic of China. He rejected Liu’s claim that Taiwan was not part of China, labelling it as “propaganda” aimed at undermining the strong diplomatic ties between Nigeria and China.
“For the record, United Nations General Assembly Resolution 2758, adopted in 1971, recognised the People’s Republic of China as the sole legitimate representative of all of China, including Taiwan,” Yakubu stated. “The One-China Policy remains the cornerstone of China-Nigeria relations.”
He emphasized that since Nigeria and China established diplomatic ties in 1971, the country has consistently upheld this principle. “Efforts by Taiwan’s trade office to challenge this stance are futile and will not succeed,” Yakubu added.
Yakubu criticized Liu’s comments as an attempt to draw Nigeria into China’s internal matters, accusing the Taiwanese official of deliberately sowing discord and provoking a diplomatic rift. “Nigeria’s relationship with China is built on mutual respect and non-interference in each other’s political matters,” he said.
In response to Liu’s claim that China acted as a bully, Yakubu pointed to the positive trajectory of Nigeria-China relations. “Contrary to these baseless assertions, Nigeria has enjoyed a mutually beneficial partnership with China, yielding tangible results for both nations. Since 1971, our ties have grown significantly.”
He highlighted the strategic nature of the partnership, referencing the elevation of the relationship to a Comprehensive Strategic Partnership during the 2024 FOCAC Summit in Beijing. “Today, Nigeria stands as China’s second-largest trading partner in Africa, with bilateral trade surpassing 20 billion dollars,” Yakubu noted.
Furthermore, Yakubu praised China’s role in Nigeria’s infrastructural development, with investments in sectors such as rail networks, roads, ports, power stations, and water treatment facilities.
Headlines
Shettima Warns Media Against Romanticising National Challenges

Vice President Kashim Shettima has cautioned Nigerian media practitioners against the growing tendency to romanticise serious national issues, describing the trend as a dangerous departure from the media’s constitutional duty of promoting truth and accountability.
Represented by his Special Adviser on Special Duties, Modibbo Umar, the Vice President issued the warning on Tuesday while delivering a speech at the 17th LEADERSHIP Conference and Awards held at the Old Banquet Hall of the State House, Abuja.
“We must resist the temptation to romanticise serious national issues or frame them in ways that distort public understanding,” Shettima said. “Doing so only weakens the fabric of our democracy and derails our collective efforts at nation-building.”
The Vice President’s remarks came as stakeholders in governance, business, and civil society gathered to reflect on the theme of the event, “Challenges and Opportunities in Nigeria’s Fiscal Federalism.” The conference provided a platform for thoughtful engagement on some of the country’s most pressing issues, with a focus on the responsibilities of leadership at all levels.
Shettima also used the occasion to commend LEADERSHIP Newspapers Group for its consistent contributions to national discourse and its commitment to celebrating excellence in leadership.
“I commend LEADERSHIP Newspaper for the vision to convene this vital discourse and for shining the light on those who have chosen to lead with courage and competence. May we never tire of striving for a better Nigeria,” he said.
The annual LEADERSHIP Conference and Awards continues to be a major event that brings together influential voices to deliberate on national progress and honour individuals and institutions making meaningful impact in society.
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