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October 11, 2023 Senate Condemns N2.3tn Oil Theft, Probes Security Agents

In response to mounting concerns over the illicit activities of security forces and militia groups engaged in high-tech crude oil theft within the nation, the Senate has taken a significant step forward.

The decision came to fruition following a motion presented during a plenary session by Senator Ned Nwoko. In his statement, Senator Nwoko highlighted that pipeline vandalism and oil theft had inflicted a staggering N2.3 trillion in losses upon Nigeria this year alone.

Senator Adams Oshiomhole, echoing the sentiment, emphasised the endemic nature of this issue.

The initial voice on this critical matter was Senator Ned Nwoko, who brought it to the Senate's attention. He underscored the urgency of addressing the situation.

Senate President Godswill Akpabio, in his remarks, stressed the devastating impact of oil theft on the country's oil production capacity.

As a result, the Senate promptly instructed its pertinent committees, including Petroleum Resources (Upstream, Downstream, and Gas), Host Communities, and Niger Delta Affairs, to conduct an extensive investigation. The committees were tasked with delivering their findings and recommendations within six weeks.

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