Following the crash in oil prices, pipeline vandals may turn to kidnappings in order to shore up their dwindling revenue, Wall Street Journal reports.
Oil prices have taken a hit in recent times with corporations downsizing, thousands losing their jobs and nations' economy faltering.
“For many years, we fought in the creeks because we were sidelined even though Nigeria’s wealth comes from here,” said Reuben Wilson, a former Niger Delta militant according to The UK Guardian.
However oil is so cheap these days that for these militants, it isn’t even worth stealing anymore.
With prices low, the risk of getting busted by Nigeria’s navy now outweighs the get-rich rewards of sabotaging pipelines, stealing oil and smuggling vast quantities of it onto international markets. Indeed, some of these thieves have reverted to plunking fish traps in the waters they helped pollute.
With the government's clampdown on oil theft getting tighter in recent times, oil vandals might turn to kidnapping to shore up their revenue.
Already, kidnappings is on the rise, especially in the Niger Delta regions.
Although targets used to be foreigners of oil corporations, it is expected to expand to suspected rich citizens.
Recently, the brother of OPEC president, Diezani Alison-Madueke was kidnapped in Rivers state.
Oil prices have taken a hit in recent times with corporations downsizing, thousands losing their jobs and nations' economy faltering.
“For many years, we fought in the creeks because we were sidelined even though Nigeria’s wealth comes from here,” said Reuben Wilson, a former Niger Delta militant according to The UK Guardian.
However oil is so cheap these days that for these militants, it isn’t even worth stealing anymore.
With prices low, the risk of getting busted by Nigeria’s navy now outweighs the get-rich rewards of sabotaging pipelines, stealing oil and smuggling vast quantities of it onto international markets. Indeed, some of these thieves have reverted to plunking fish traps in the waters they helped pollute.
With the government's clampdown on oil theft getting tighter in recent times, oil vandals might turn to kidnapping to shore up their revenue.
Already, kidnappings is on the rise, especially in the Niger Delta regions.
Although targets used to be foreigners of oil corporations, it is expected to expand to suspected rich citizens.
Recently, the brother of OPEC president, Diezani Alison-Madueke was kidnapped in Rivers state.